Method of Appraising Rental Property

• US 20140289136A1
• Filed: 03/24/2014
• Published: 09/25/2014
• Est. Priority Date: 03/22/2013
• Status: Abandoned Application

• Current Assignee: Gary M. Godbee
• Original Assignee: Gary M. Godbee
• Inventors: Godbee, Gary M.
• Application Number:
  US14/222,714
• Publication Number:
  US 20140289136A1
• Time in Patent Office: Days
• US Class Current: 705/306
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A method of appraising rental properties is provided that provides guidelines for government agency when determining rental subsidies to be paid to landlords and property owners. The method comprises cataloging and storing data related to the property and the tenants themselves, wherein the condition of the property, its amenities, the anticipated utilities for the property, and the local real estate market are accounted for in determining a reasonable rent to be paid to the landlord or property owner offering subsided housing to low income families. In carrying out the these objects, the present invention provides an application layer executed on a computer or other like programmable apparatus, a network, and a storage database for cataloging external data from public sources and from agency personnel directly. The method provides a reasonable rent calculation that is adapted to incentivize property owners to maintain their property and to prevent government agency waste.

Claims

1. A method of appraising rental property, comprising the steps of:

initiating an application layer executed on a computer or other like programmable apparatus;

inputting directly gathered property-specific data related to a specific rental property;

said property-specific data comprising one or more of the following;

bibliographic data of said specific rental property;

fair market rent;

feature factors;

building factors;

general property factors;

amenities;

utility expenses;

physical layout of said specific rental property;

loading external property data related to said specific rental property from one or more servers over a network;

said external property data comprising one or more of the following;

bibliographic data of said specific rental property;

fair market rent;

feature factors;

building factors;

general property factors;

amenities;

utility expenses;

compiling said property-specific data and said external property data in a database;

using said computer or other like programmable apparatus to calculate an estimated rent for said specific rental property from said property-specific data and said external property data.

2. The method claim 1, wherein said step of using said computer or other like programmable apparatus to calculate further comprises:

determining said estimated rent according to the equation;

3. The method claim 1, wherein said step of inputting property-specific data related to a specific rental property further comprises the steps of:

evaluating said specific rental property to generate said property-specific data.

4. The method claim 1, wherein said step of loading external property data further comprises the steps of:

accessing one or more an external servers storing public or government agency housing data;

requesting said external property data related to a specific rental property;

compiling and loading said external property data related to a specific rental property on said computer or other like programmable apparatus.