The Appraisal Institute has released a form intended to help analyze values of commercial buildings' energy efficient features.
The Institute’s Commercial Green and Energy Efficient Addendum offers a communication tool that lenders can use as part of the scope of work. The addendum also assists investors in communicating the construction features of the property that impact income.
Appraisers, builders, energy modelers, green certifiers, architects and investors can use the addendum if a property has green features even if it is not certified. Water and energy efficient features are keys to a higher net income, and appraisers should take care to identify these features, the institute says.
"The market has many different ideas of what makes a property green, and this addendum will assist in understanding actual green features," said Institute president M. Lance Coyle, MAI, SRA. "After the construction of a building, the construction features are often forgotten, and the blueprints and specifications are often misplaced or overlooked." The form is a concise document that records green features for easy reference.
Related Stories
Codes and Standards | Apr 27, 2021
Ten real estate groups sign on to New York State’s high-rise decarbonization challenge
Each signee commits to carbon neutrality in one or more high-rise buildings it owns.
Codes and Standards | Apr 26, 2021
Dozens of companies, organizations call for Congress to double Energy Star funding
Despite broad support, program’s budget has steadily declined in recent years.
Codes and Standards | Apr 22, 2021
Alabama fire chiefs oppose proposal to change school building code oversight
Bill would move code compliance control from state to local boards.
Codes and Standards | Apr 21, 2021
After dry winter, California ramps up wildfire prevention efforts
State to spend half a billion dollars on projects including making buildings more fire resistant.
Codes and Standards | Apr 20, 2021
U.S. electric grid is halfway to zero carbon
Other sectors including buildings lag power industry.
Codes and Standards | Apr 19, 2021
Failed landmark preservation effort in Chicago provides lessons for planners
Gentrification fears heightened among Pilsen neighborhood residents doomed ambitious preservation plan.
Codes and Standards | Apr 14, 2021
New Phase 1 Environmental Site Assessment standard debuts in 2021
Will affect 250,000 commercial real estate deals a year.
Codes and Standards | Apr 13, 2021
British Columbia moves to accelerate mass timber construction
Province funds demonstration projects as part of economic recovery.
Codes and Standards | Apr 12, 2021
WoodWorks and Think Wood release first Mass Timber Design Manual
Interactive collection of information on mass timber products, design best practices, taller wood construction and sustainability.
Codes and Standards | Apr 8, 2021
Sensors used in tunable lighting systems found to have high reliability
DOE study investigated items used to control lumen depreciation, chromaticity shifts, and changes in drivers.