Seminar: How Tenants Create or Destroy Value – Leasehold Valuation and its Impact on Value

Developer and Instructor: Gary DeWeese, MAI

If you’re involved in the valuation of commercial real estate, it’s crucial to know how the terms of a lease affect value. This seminar goes beyond methodology to explore how to measure a property rights adjustment, the theory

underlying the use of a leasehold yield rate (Y_LH) to value the leasehold, as well as the application of a property rights adjustment in all three approaches to value.

• Recognize how the terms of a tenant’s lease impact value—either positively or negatively.
• Identify situations that require a valuation of a leasehold.
• Identify methodologies in valuing a leasehold, including examples and exercises.
• Recognize the impact of a leasehold in the valuation of property using all applicable approaches.
• Identify challenges facing appraisers performing leasehold valuation assignments.

A Special Note About Registering:

• Never attended an Appraisal Institute Offering or not yet updated your password / log-in since October 1, 2019 – follow these simple steps before registering.
• Those seeking credit from states outside of California are strongly encouraged to check directly with their state licensing board(s) to confirm that the specific state(s) will (1) accept virtual / classroom education, (2) accepts education from an out-of-state provider and/or (3) offers reciprocal credit since the offering is approved by the CA BREA.
• This virtual program is approved for 7-hours of Appraisal Institute, BREA and State Board of Equalization (SBE) CEC.
• Instruction will be held via Interactive Technology (ZOOM) and is based on the “live” classroom version that falls under the temporary exemption for virtual / classroom education due to COVID / SIP restrictions.
• It is the student’s responsibility to have the required equipment – dependable Internet access, computer, webcam and microphone, agrees that attendance will be monitored and to to forward their Photo ID/ Driver’s License to the Chapter Office upon completing your online registration.