CITY OF RICHMOND
Office of the Assessor of Real Estate
900 East Broad Street
Room 802, City Hall
Richmond, Virginia 23219
(804) 646-7500
ANNUAL INCOME AND EXPENSE SURVEY
INFORMATION SUBMITTED ON THIS FORM WILL NOT BE DIVULGED TO ANY UNAUTHORIZED PERSON, UNDER PENALTY
OF LAW, § 58.1-3 CODE OF VIRGINIA
Owner Name: ________________________________________________
Property Name: ________________________________________________
Map Reference #(s): ________________________________
Property Address: _______________________________________
Is this property designated as a Section 42 (LIHTC) property? (Y) ______ (N) ______
If
yes, a copy of the Extended Use Regulatory Agreement must be supplied to this office.
Current Rents
In an effort to best reflect the market value of apartment buildings and projects in the city of Richmond it is
requested the owner and/or the representative of the owner of these properties provide the following documentation:
A detailed
rent roll (excel spread sheet) that would include a listing of all individual units identified by their
assigned number within the building, each unit’s size, each unit’s number of rooms, bedrooms, baths, the date of
lease and its expiration, the current rent, any extra charges. If the property is mixed use (having apartment and/or
commercial and office space please list these areas separately.
A brief description of amenities included in the base rent (paid by the owner/landlord) and those for which an
additional cost to the tenant may be charged.
A copy of the property’s Income and Expenses for the same time period of the rent roll with each category identified
and cost related to that category stated.
A listing of the following: available parking spaces on site, garages, carports and the monthly charge for those
amenities.
Income/Expense Statement
A copy o
f the property’s Income and Expenses (NOT IRS form 8825) for the same time period of the rent roll
above with each category identified and the cost related to that category listed.
List of owner paid utilities_______________________________________________________
Notes on Expenses: Only legitimate expenses necessa
ry to the operation of the real property will be considered. Do
not include business related expenses, mortgage related expenses, depreciation allowances, etc. The annual expense
items must coincide with the same annual period specified for the gross income estimate. You may have to allocate
certain expense items that are not incurred annually. For example, exterior painting may be needed every 7 years. Do
not include the total expense for such items if the expense was incurred during this annual reporting period. If painting
is done every 7 years and the cost is $21,000, the amount to report would be $3,000 ($21,000 divided by 7 years).
Sale Information
PLEASE INDICATE ANY RECENT SALE (within the last 5 years)
DATE OF SALE_______________
SALE PRICE $__________________________
TERMS OF SALE:
(1) Was the sale arm’s length? (unrelated parties, etc) Y N ____
(2) Was th
ere Personal Property involved in the transfer? (FF&E) Y____ N____
If Yes, estimate amount $__________________ Description ____________________________
(3) What was the general condition of the property at the time of sale? ______________________
(4) Was there a major renovation to the property after the sale? Y____ N____
If yes, describe work and estimate the dollar amount spent:
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
Signature and Verification
The undersigned declares under penalties provided by law, this return (including any accompanying schedules and
statements) has been examined and is believed to be a true, correct and complete return.
_____________________________________________________________________________________
Owner
or Agent Title Date
_____________________________________________________________________________________
Contact Name (if different from above)
Contact Num ber
_____________________________________________________________________________________
Email Address of Contact
*
Extra forms are available on our website at: www.richmondgo
v.com\Assessor\forms.aspx.
Please save and email completed survey to asktheassessor@richmondgov.com
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