We are a property management company. How to evaluate the value of the company?

Mainly according to the income method, we have done many evaluations of property companies.

Brief introduction of evaluation method

For the stock of operating real estate, the applicable evaluation methods are market comparison method and income method. After investigating the surrounding areas of the entrusted property and analyzing relevant data, the appraisers think that the rent level determined by the existing lease of the entrusted property is far from the objective market situation on the benchmark date, and the lease time is too long, so it is not appropriate to use the market comparison method to evaluate the entrusted property. Therefore, this time only the entrusted property is evaluated by income method.

Income method is a method to estimate the future normal income of the appraised object, discount it at an appropriate capitalization rate and then accumulate it, so as to estimate the objective and reasonable price or value of the appraised object.

1 2 n

Calculation formula of annual net income discount: P 1)]

i 1 2 1 1

P: the value representing the attribute; A: represents annual net income; I 1: indicates the capitalization rate; I2: indicates the increasing rate of annuity;

N: indicates the number of years of remaining income.

The income method evaluation work is mainly divided into the following three stages:

The first stage: investigate and evaluate the characteristics of the object. According to the Application Form for Building Appraisal provided by the entrusting party, the appraisers, with the cooperation of the asset management personnel of the appraised unit, verify, investigate and evaluate the buildings listed in the application form one by one, so as to understand the present situation of the buildings, including surface layer, internal structure, decoration standard, function and performance, quantity and quality, geographical location, etc., and make detailed evaluation records. Adjust the difference to ensure that the accounts are consistent with the facts.

The second stage: collecting information. According to the general criteria of asset appraisal, the appraisers collect the information needed for this appraisal, including the real estate transaction information of the real estate transaction management department, all kinds of newspapers and magazines, yearbooks and real estate online related information, and collect the real estate rental case information directly from the real estate property management department.

The third stage: evaluation, analysis and calculation. According to the field investigation results and the investigation of the real estate rental market, the appraisers

Beijing Zhongtonghua Assets Appraisal Co., Ltd. 13 Page

The fifth part analyzes the technical description of the asset-based approach, and the differences between the main houses and buildings entrusted for evaluation and the real estate where the lease information in the real estate market is located in terms of location, area, use, transaction time, service life, environmental conditions, housing conditions and transaction conditions. , analysis, combining the income determined by the entrusted real estate with the rental price of the real estate rental market, and calculating the investment income value (evaluation value).

Evaluation process of intransitive verbs

1, determination of capitalization rate

There are several ways to determine the capitalization rate:

(1) market extraction method

This method is suitable for the situation that the real estate market is mature, the transaction is active, and the market rent and transaction price are easy to collect. This method is easy to understand and accurate, so it is widely used.

This method is to collect the price and income information of several real estates in the same real estate market and calculate the capitalization rate according to the calculation formula of income method.

(2) Risk-free interest rate plus risk adjustment method

Its theoretical basis is that investment should have a return, and the return is proportional to the risk. The higher the investment risk, the higher the return. If you don't want to take risks, you can only get a lower return on investment. The formula of capitalization rate under this method is: capitalization rate = safe interest rate+risk adjustment value.

The difficulty in the application of this method is that there is no uniform standard for determining the risk adjustment value, and different appraisers will take different values, which will directly affect the valuation results.

(3) compound investment income method

The premise of its use is to determine the mortgage interest rate of real estate financing, the return on investment of its own funds and its proportion in the total value. The compound investment rate of return method takes the weighted average of the mortgage rate of real estate purchase and the rate of return on its own capital as the capitalization rate.

(4) Sorting and inserting method of return on investment.

This method requires finding out other investment types related to real estate investment and their corresponding rates of return, and then comparing and judging according to their risk degree to determine the capitalization rate of real estate investment. The basic idea of determining the capital return rate by the investment return rate sorting insertion method is: first, find out all kinds of investments and their returns related to the real estate to be evaluated in society, then draw the return rate-investment type curve, and then compare the investments in the real estate to be evaluated.