Property Management Company Charging for Project Information

[EliJr]

What is the name of your state (only U.S. law)? Connecticut

I'm a real estate appraiser, and I've run into a first-time issue...

When doing appraisals for condos and co-ops, we usually need to contact the property management company for the subject's complex to supply some very basic, very quick information. Today, I reached out to a property manager for just the number of owner-occupied and renter-occupied units in the complex. This information is required on most appraisal forms to render them compliant with UAD (Uniform Appraisal Dataset), and nearly all PMs will provide the info over the phone. Today's company asked me to email them the question... I did, and they replied by saying I needed to complete their attached questionnaire, and submit a payment of $125. When I asked if they were serious, the reply I received was "Sorry, if we have to stop what we are doing and look up information for you we charge for it. Flat fee." (Kind of ironic considering it probably took them more time to email me the questionnaire and the snarky reply.)

My question is if this is legal... it seems information like this should be readily available to the public, especially if a lender requires it. And to be clear, I'm not being cheap by refusing to pay... my fee for the appraisal is only $175 to begin with.

 

[STEPHAN]

Who ordered the appraisal? Let them deal with it.

 

[EliJr]

The order came from an appraisal management company, who handles orders for the lender. I found a way around these people by accessing information from a local MLS... this works for me, but not for homeowners and others who don't have MLS access.

I think the answer here is that they can probably charge for anything... probably legal, definitely unethical.

 

[Zigner]

I think the answer here is that they can probably charge for anything... probably legal, definitely unethical.

Very legal and definitely NOT unethical. The amount may be a bit steep, but the concept makes total sense.

 

[festival]

Next time contact the board of directors, who can provide the same information for free.

Explain how getting a mortgage is necessary to uphold property values.

I'm curious, how is it that MLS knows the number of rental units?

 

[justalayman]

Why would a homeowner or others that don't have mls access need such information?

Of course you are aware mls does not guarantee accuracy, right?

The info you said you needed is available to everybody if te know where to look. Given you have such a problem finding the info suggests you are very new appraiser, especially given your fee is only $175. The median charge in my area has been over twice that for decades and I live in Podunk.

in the years I have used mls, they have never had the data you were looking for.