Operating expenses for maintenance from the cost of the building. Current operating costs for the operation of the building, income tax and property tax. Federal Agency for Education

Federal Agency for Education.

Department of Economics and Management.

Test No. 1 by discipline

Real estate economy

1. Determination of expenditures for the operation of real estate.

1.1 Classification and composition of spending on the operation of real estate.

1.2 Calculation of expenses for the operation of real estate objects.

1.3 Trends in the size of the cost of operation with an increase in the service life of the building.

1.4 The impairment of depreciation on the cost of real estate objects.

Practical part.

List of sources used and literature.

1. Determination of expenditures for the operation of real estate

1.1 Classification and composition of spending on the operation of real estate

Operation of objects - Activities including the following processes: Checking and evaluating data on the object and inform users about the technical status of the object, the process of regulating the functioning of the object and maintain its workable state, the process of maintenance of the object and the current repair of the object, and other object operation processes.

Interest in commercial real estate is consistently high, the number and quality of new facilities is constantly growing, and the owners of the real estate are aware of the need for professional exploitation, which contributes to an increase in the service life of the building, and also increases its market value. According to estimates of the real estate market specialists, more than 85% of all costs fall on operating costs.

1. Operating expenses - periodic expenses to ensure the normal functioning of the object of real estate and reproduction of income.

The operating (or operational) expenditures include the cost of the operation of the facility, the provision of services to the user and maintain the flow of income. The operational cost of real estate objects includes: wage and service personnel awards, social insurance of workers, utilities (electricity, gas, telephone, water, etc.), the cost of maintenance of the object (payment of services of security and fire services, for the service of elevator, engineering communications, telephone, etc.), representative Costs, advertising costs, banking services, as well as transportation costs.

Operating costs can be two types:

a) permanent expenses (fixed, conditionally constant) - these costs do not change with the change in the factor of the property of the property (for example, property taxes, insurance payments, management costs);

b) variable expenses (conditionally variables) - depend on the factor of the property of the property: the greater the loading of the property, the higher these expenses (for example, utilities, garbage collection, electricity pay, etc.).

Some expenses are not included in the operational costs or because they are taken into account by the capitalization ratio (depreciation deductions - the return of fixed capital), or because they are not considered as costs related to the operation of the real estate object (for example, payments of the principal amount and percentage of mortgage loan , insurance of mortgage loans, business insurance and personal responsibility, etc.).

In each case, the list of operating expenses may be greater or less. It should be borne in mind that when analyzing the nefactic expenses of the owner must be taken into account over the past period, and the projected typical costs for next year After the date of the assessment.

When operating real estate, there are such expenses that are rare enough. If they do not consider them, then the appraiser will be wrong. For their accounting, the concept of reserves is introduced under which the annual delay (reservation) of money for long-term expenses is understood.

2. Reserve (expenses) for substitution - these costs or have 1-2 times in a few years or much change the year from year to year. This is usually the cost of reimbursement of items with a short life (blinds, air conditioners, kitchen equipment, etc.). Usually include such subjects:

Roof, floor covering, other building elements with a short term;

Sanitary, Kitchen Equipment, Electrical Appliances;

Mechanical equipment (blinds, air conditioning);

Basin equipment;

Sidewalks, access roads, etc.

These costs make up significant one-time amounts that need to accumulate on a special account. If these costs do not take into account, then the income will turn out to be overstated. If during the period of the estimated duration of ownership does not provide for the replacement of the hosting components, the costs of their substitution are not taken into account, and their wear will be compensated for the sale of the real estate object.

1.2 Calculation of expenditures for the operation of real estate

Real estate owners are puzzled today, how to reduce the cost of operation of their objects and at the same time protect them in "Faxing and Conservation". But in order to spend less, the owner needs to be represented, as the costs of operation are generally emerging.

Profitable method of calculating costs.

In order to substantiate the cost of exploitation, it is necessary to represent what approaches are the professional operating companies in expense planning.

To ensure the planned profitability of the object, it is necessary, first of all, to clarify how much the owner is ready to spend on the operation of the property. In this case, when calculating the cost of operation (based on the volume of gross income) uses an income method. The amount of gross income is taken for 100%, and a strictly defined percentage is spent on each expense article. On average, the cost of operating the object of real estate is 10-12% of the gross income of the owner. In the winter period, this amount increases due to the increase in the volume of costs of electricity and heat. Not all owners of real estate objects are ready to pay so much, so everyone in its own way solves the problem of reducing the cost of operation, while trying to preserve decent quality of service. After all, the service life of the building depends on the operating conditions.

The income method for fixed returns ensures the maximum set of operational services. At the same time, the cost of operation is a certain proportion from gross income that the owner itself is ready to spend.

As part of an increasing approach to the assessment of the real estate object, direct capitalization method or the method of discounting cash flows is applied. When using a direct capitalization method, the amount of net income for the year of operation is divided into an appropriate rate of income. When applying the discount income method, the future cash flows of pure income of each period are recalculated at the current cost by discounting using the discount rate corresponding to it.

Depending on which method is used to calculate the value of the object of revenue real estate - capitalization or discounting - to determine net income it is necessary to make a forecast of gross income and the reasonable value of operating costs, respectively, on the typical ("normal") year of the functioning of the building or for the entire period alleged commercial use.

Forecasting costs for the technical operation of the property of the property can also be made on the basis of calculating resources for operation using SNIPs, providing construction design, standards and reference books.

POSSIBLE METHOD.

According to experts, it is not always advisable to use an income method for calculating the cost of operation. In addition to it, there is also a costly method for calculating operating costs. This method is based on the use of enlarged indicators of resource costs - per unit volume or area for various commercial real estate objects. Regardless of the volume of the gross income of the property, one or another expense article will always be the same amount.

As a rule, it is convenient to use the owners of commercial real estate, which plan to use their object before the expiration date. Not only fixed income from the object is important for such owners, but also the state of the building and its engineering. The main thing in this case so that the object is operated as long as possible. At the same time, the owner also does not intend to pay more than other real estate owners. The desire does not overpay quite naturally. Therefore, in order to reasonably use your resources and allocate the necessary part of the gross income into operation, one more method of calculating the cost of operation can be applied - comparative.

Comparative method.

A comparative analysis of analog facilities is to use open and affordable integrated resource costs for similar real estate. If the first two ways to estimate the cost of the real estate operation require a certain number of specific information and time for calculations, then the comparative method is useful as an express assessment. On the other hand, to obtain information on the cost of the operation of similar objects is most often difficult. Such information is rarely freely available, but they are more important because they allow the owner to instantly appreciate its financial potential for operating costs compared to operating costs that allow themselves "colleagues".

What method to choose?

It is necessary to take into account the fact that the cost of operation is the value that changes from the month per month. Operation is seasonal, therefore the cost of it, depending on the season, differ. When preparing for the heating season - in August-September - the cost of operation is higher than in April-May. To say exactly what method is effective and what owners are adhered to, it is impossible in view of the many factors affecting the cost calculation (seasonality, the list of maintenance of equipment, the class of object, etc.). As a rule, all indicators are combined by multiple methods Estimates, and a general denominator is derived satisfying the owner.

The choice of the method of calculating the cost of operation is exclusively the prerogative of the owner of the property based on data, forecasts and documents compiled by a professional operating company. The choice of method depends on many parameters. Let's say, developers are ready to allocate its object from gross income a strictly defined amount and therefore most often choose a profitable method for determining costs. At the same time, developers are not ready to pay more than "colleagues" ( comparative method). Owners of commercial facilities that suggest that they will use the object themselves, and are interested in the office or shopping center operated as long as possible, most often choose the cost method. However, there are also some nuances.

The fact is that today is completely and nearby it turns out that at the construction stage in the project there are constantly changes, other materials and equipment are used instead of those who planned the owner. There is a problem: for operation, for example, a single value is reserved, but it turns out that it will have to pay much more.

And here, every property owner independently determines that it is more important for it - to save on exploitation and maintain the planned yield of the object or, having reduced the yield, spending as much as necessary. In addition, the owner also does not want to overpay and is ready to pay no more than "neighbors".

Thus, the panaceans for the owner does not exist - it is necessary to determine the cost of operation in each case separately.

1.3 Trends in the size of the cost of operation with an increase in the service life of the building

Interest in real estate is consistently high, the number and quality of new objects is constantly growing, and real estate owners are aware of the need for professional exploitation, which contributes to an increase in the service life of the building, and also increases its market value. According to estimates of the real estate market specialists, more than 85% of all costs fall on operating costs.

Operation of objects - Activities including object operation processes: Processes for verifying and evaluating data on the object and inform users about the technical condition of the object, the process of regulating the functioning of the object and maintaining its operational state, the process of carrying out the maintenance of the object and the current repair of the object, and other object operation processes .

The following works and services are included in the scope of operation:

ü Servicing engineering networks (electrician, water supply, sewage, heating, ventilation, telephony, etc.);

ü service air conditioners;

ü Service of elevator equipment;

ü Current and planned repairs (interior, roofing, facades), as well as landscaping;

ü Conducting planned warning events;

ü eliminating possible accidents and their consequences by the united repair brigade of the engineering and operational service;

ü Development of instructions for maintenance, repair, labor protection and safety, electro- and fire safety;

ü performing regulatory acts, regulations and instructions for operation accepted in Russia;

ü Introduction of technical documentation for the object, preparation technical tasks, coordination of project documentation, the adoption of current engineering solutions;

ü Conclusion of subcontract contracts with specialized servicing organizations;

ü Interaction with contractors and suppliers. Implementation of all necessary purchases of consumables and equipment. Choosing on a tender-based contractors providing specialized work and services, and quality control of work performed;

ü Interaction with shutdown bodies and administration.

In addition, the safety of people in it in the quality of operation and trouble-free operation of the building is depends on the safety of engineering systems. The technological "filling" on modern real estate objects is complex and requires serious practical training from specialists serving the engineering infrastructure of the building.

Experts also argue that today on the Russian market there is still no clear understanding of quality standards in the field of operation and management of objects. The need to develop uniform "rules of the game" at this stage of market development is sufficiently high.

The exchange of experience in the field of maintenance of buildings and managing operations between professional market participants is necessary.

Over time, each structure gradually flashes and loses the ability to perform its functions. A difficult permitted task is to determine the term of the physical life of the building.

The building is exploited - built and commissioned engineering and construction object, towering above the surface of the Earth, having engineering systems to continuously maintain the climatic parameters of the interior environment. Operated buildings for appointment are divided into: residential, industrial and public.

Many buildings that are designed to say, for 100 years, stand and function much longer. There are tables that define these deadlines for individual buildings and structures. However, they can only serve as a guideline in determining the life of the building.

The term of economic life ─ is the term during which the building brings profit. The building reaches the end of economic life when it ceases to contribute to the value of the site.

The term of physical life is a deadline during which the building really exists, that is, it is possible to accommodate and work.

Effective age is based on the evaluation of the appearance of the building, taking into account its condition, design and economic factors affecting its value.

Depending on what was care for the building, whether work was carried out on repair, modernization, refitting or not, the effective age of the building may be greater or less of its physical age.

In the accounting accrual of depreciation proceed from the assumption about the uniform aging of the building. This approach is unacceptable. The appraiser must first of all proceed from effective age and determine the remaining time of economic life. For the term of economic life, many factors are influenced, such as: economic conditions, consumer tastes, etc., which can dramatically change the remaining period of economic life. However, the calculations proceed from the fact that there will be no significant changes in the remaining period of economic life.

The method of calculating wear suggests that an effective age, expressed as a percentage, reflects the typical period of economic life in the same way as the percentage of accumulated wear reflects the total reproduction costs, that is:

where From ─.wear, PVS ─ Complete Replacement Cost, EV Effective Age, SEU ─ Economic Life Life.

1.4 Impact of depreciation on the cost of real estate objects

Any object of real estate (except land under normal use) is subject to wear. As a result, its technical and economic characteristics deteriorate, and the cost is transferred by parts for manufactured products or services rendered. The transferred cost leaves the real estate scope and accumulates in the form of depreciation deductions to restore the capital invested in the object or other purposes.

Wear is closely related to real estate depreciation, i.e. With gradual transfer of its value throughout the service life on the benefit obtained in the process (products, services, etc.). Depreciation accounting is carried out using depreciation deductions - the monetary expression of the transferred value.

The new depreciation policy in Russia considers depreciations as an element of the current costs taken into account when determining financial results, and in the form of the right to tax deductions, and not the obligations to implement capital investments in renovation of the same real estate (scheme 1.41.)

Scheme 1.41. Real estate price turnover.

where on ─ the rate of depreciation,%; St. Petersburg ─ Initial Balance Cost of the Object, rub.

2). The method of a decreasing residue ─ Depreciation based on the residual (and not initial) value of the object, i.e. The amount of depreciation consistently from year to year decreases in accordance with the decrease in the residual value (the initial minus transferred).

3). The way to write off the cost of the number of numberstime useful use It provides for calculations based on the initial cost of the object and the annual relation, where in the numerator ─ the number of years remaining until the end of the service life of the object, and in the denominator ─ the amount of the number of years of the service life of the object.

four). The way to write off the cost is proportional to the volume of products (works) ─allows you to speed up or reduce the actual depreciation accrual in accordance with the actual use of the object.

In world practice is used cumulative method(Method of the amount of numbers), which uses a variable rate of depreciation. It is determined by dividing the number of years remaining until the end of the physical life of real estate, for a cumulative number, equal amount members of arithmetic progression. For example, under the service life of the object in 100 years, the cumulative number will be:

b) at 10nd (90 years of life of the object remained)

In accordance with paragraph 3 of Art. 259 Second part of the Tax Code of the Russian Federation from 01/01/2002 Accrual of depreciation for tax purposes on real estate objects can be carried out by a linear manner under the formula: K \u003d (1 / N) * 100%, for objects included in 8-10 amortization groups, and by other means Production ─ nonlinear method according to the formula: K \u003d (2 / N) * 100%, where to ─ monthly depreciation rate as a percentage to the initial (reducing) value of the object; N ─ Useful use of this object, month.

Practical part

Option 5.

Task 1. Evaluation of the land plot based on the analysis of the best and most effective use

Determine the best way Development of a land plot of three possible strategies based on the analysis of the best and most efficient use: a - residential apartment building, b - shopping center, in - office complex. The source data is shown in Table 1.

Table 1.

Build version	Development Indicators
	Annual gross income, D.E.	Amendment on the shortcip. and loss when assessing payments,%	Other income, D.E.	Current operating costs,% of annual gross income	Reserve for substitution, D.E.	The cost of building buildings and structures, D.E.	Capitalization ratio, %
							For buildings	For land

Decision

Clean operating income Calculate in accordance with Scheme 1.

Annual gross income

Other income

Valid (effective) gross income

Operating expenses

Reserve for substitution

Pure operating income

To determine the estimated value of the property, it is necessary to apply the coefficient of capitalization. It expresses inversely proportional dependence between the value of annual net income from the operation of the property and its market value. That is, the capitalization coefficient is a parameter that converts net income to the cost of the property:

Calculations on the choice of the most efficient use of the land plot will be submitted as table 2.

Indicators	Residential complex	Shopping center	Office building
Annual gross income, D.E.
Amendment for short-use and loss when assembling payments, D.E.		1290*0,051=65,79
Other income, D.E.
TOTAL: Valid gross income, D.E.	515−19,57+5,5=	1290−65,79+11,5=
Operating expenses, D.E.
Reserve for substitution, D.E.
TOTAL: Pure operating income, D.E.	500,93−169,95−14=	1235,71−490,2−41=	655,90−238−20=
Income related to buildings and facilities, D.E.
Clean residual income, D.E.	316,98−288=28,98	704,51−674,5=30,01	437,90−391,5=46,4
Established value of land, D.E.		30,01/0,09=333,45	46,4/0,09=515,56

Since the net residual income from the Earth (the estimated value of the Earth) is the largest for office building - 46.4 (515.56) D.E., it is the most efficient use of the site.

Task 2. Assessment of the value of the land base based on a market approach.

Rate the market value of the land plot based on the sale of three comparable areas. The source data is shown in Table 3. Each month the value of the land increases by 1.5% (by a simple percentage).

Table 3.

The main characteristics of the estimated (OC) and comparable (1,2,3) land plots.

	Chen, D.E.	Area, G.		Placement		Topography	Resource quality	Sales time, back ...
			2% better		at 5 k.e. it is better
				6% worse			10% better
				2% better	1% better	on 3 d. worse

Note. Abbreviations: n- normal; x - good.

Decision

In sales prices, the opinions of typical vendors and buyers are reflected. If there is a sufficient number of data on similar sales in determining market value The property object is advisable to be based on the results of its assessment with a comparative approach.

Comparative (market) approach is a way to determine the market value of the real estate object, based on the data on recent real estate transactions, that is, it is based on a direct comparison of the real estate object with other objects that were sold or included in the sales registry.

The basis of the application of this approach is the principle of substitution, in the presence of real estate objects on its free and competitive market, the rational buyer will not pay more for a specific real estate than the acquisition of another similar real estate object with the same utility and quality and quality. appointment.

1. So as land Have a different area, then the price of sale per unit comparison is determined. In our example, the comparison unit adopted 1 hectare.

2. All subsequent adjustments will be held relative to the price for 1 hectare. If the parameters of the comparable area is better than estimated, then the amendment is introduced with the sign "-", if worse - with the sign "+".

The amendments are shown in Table 4.

Table 4.

Correction table for assessing a plot based on a market approach, D.E.

Indicators	Plot for evaluation	Comparable sites
Area, G.
Price for 1 hectare
		─51,11*0,02=─1,02
Location			51,11*0,06=+3,07	─49*0,02=─0,98
				─49*0,01=─0,49
Topography
Resource quality			─51,11*0,1=─5,1
Sales time
Calculated value		48,57─1,02+0,97	51,11+3,07─5,1+,051	49─0,98─0,49+

The lowest settlement value has a 1-section, although it is less than the area estimated in area, but better in shape and has more profitable characteristics of the soil.

In the price of the 2nd site, three amendments were also made, however, one of them ─ location is obviously subjective.

The 3rd plot is much more measured by area. In its price the most adjustments are made.

Therefore, larger trust causes the first plot. Its calculated value can be taken as a basis when appointing the value of the site under consideration.

Since the registration of documents can be given to the 1st month, then with a monthly price increase of 1.5%, the cost of 1 hectare of the area of \u200b\u200bthe area is equal to:

44.54 * 1.015 \u003d 45.21 D.E.

The cost of the entire site: 45.21 * 1,6 \u003d 72.34 D.E.

List of used sources and literature

1. Asaul, A.N. Real Estate Economy: Textbook / A.N. Asaul. - SPb.: Peter, 2004. - 512 p.

2. Goremichkin, V.A. Real Estate: Economics, Management, Taxation, Accounting: Textbook / V.A. Goremykin. - M.: Knorus, 2006. - 672 p.

3. Ignatov, L.L. Real Estate Economy: Educational and Method. Manual / L.L. Ignatov. - M.: MSTU, 2003. -168 p.

4. Novikov, B.D. Market and real estate assessment in Russia / B.D. Novikov. - M.: Exam, 2000. - 512 p.

5. Real estate assessment: textbook / under. ed. A.G. M. M.A. Fedotova. - M.: Finance and Statistics, 2002. - 496 p.

6. Stroverova, G.S. Real Estate Economy: Tutorial / GS Stroverova, A.Yu. Medvedev, I.V. Sorokina. - Vologda: Voge, 2006. - 238 p.

7. Shcherbakova N.A. Real Estate Economy: Educational Breakfast. R / D: Phoenix, 2002, - 320 p.

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Author (Evgeny Yakushin, gene. Director of the UK "Sistema"), taking part in the development of business plans for the implementation of commercial real estate projects and issuing recommendations for the choice of engineering infrastructure and finishing materialsAs well as recommendations for predicting the costs related to their operation, in practice, assessed the effectiveness of the adopted standards and the correctness of the selected costs. Analysis of the results revealed some patterns and trends, on the basis of which methods for calculating current and forecasting future operating costs were developed (while the author used the general methodology and terminology of professional appraisers). 1. Profitable method. The cost of operation, taking into account the profitability of the object. Profitable method: The cost of operation is regulated by the profitability indicators.

The income method for calculating and predicting operating costs is based on the use of enlarged indicators of the ratio of operational costs, the planned (expected) profitability and gross income of commercial real estate objects of various grades. That is, the value of operating costs is determined in strict dependence on the return on the business plan - to earn x, it is necessary to spend Y.

The share of operating costs for the maintenance of the property from gross income

1. The cost of exploitation of the property is 10 - 16% of gross income, and under the exploitation of real estate, we understand the presence of all its seven components. Here we consider control of the technical condition, maintenance, Planning and preventive work, regulatory activities, sanitary and hygienic services (Cleaning), technical consulting, resource provision, planning and budgeting, as well as salary of employees. Moreover, the distribution of relations, depending on the classification of business centers, is: BC class "A" 10 - 12%; BC class "B" 12 - 14%; class BC of the "C" 14 - 16%.

2. The management costs are 5 - 10% of gross income.

Governed by commercial real estate It is recommended to understand the following set of events:

Current brokerage (search and attract tenants in a functioning object);

Management (interaction with tenants, settlement of current issues);

Representing the interests of the owner of the object;

Legal support (signing, prolongation, termination of contracts and their subsequent registration in government agencies);

Accounting support (billing; rental payments, debt collection; rendering of funds to the owner);

Preparation of financial statements.

3. Costs for utility services (water, heat -, gas -, power supply) make up 6 - 8% of gross income. 4. Safety costs 4 - 7% of gross income (salary Co-workers security service, purchase of workwear, installation and operation of video surveillance cameras, maintenance of the fire alarm).

Take for example a class "B" business center, located in the Vyborg district of St. Petersburg.

Total area - 5411 sq.m.

Availanchable area - 4058 sq.m.

Exchange rate - 100%.

Rental rate - 30 cu sq. m / month.

Gross monthly income - 22.5 cu sq. m / month.

The cost of operation is determined by the incremental method of calculating the cost of operation (12-4% of gross income) and amounts to a specific business center 2.7 - 3, 15 USD per sq.m. per month.

2. Post method. The cost of operation is based on costs.

POSSIBLE METHOD: The cost of operation is regulated by the conditions for servicing construction constructs, finishing materials and engineering infrastructure of the real estate object. The costly method for calculating the cost of operation and prediction of operating costs is based on the use of enlarged indicators on the costs of expenses - per unit area for various types and functional real estate purposes. At the same time, the values \u200b\u200bof the enlarged indicators are determined on the basis of technical characteristics Engineering infrastructure and construction constructors of the object of real estate corresponding to the adopted class of real estate object and their total physical wear. That is, the value of operating costs is determined by creating a estimate - should spend Y to ensure a certain list of operational indicators. At the same time, performance indicators are a combination of technical, volume-planning, sanitary and hygienic, economic and aesthetic characteristics that determine its operational qualities.

Turn to the same example:

Business center (class "in"):

Heating systems, cold and hot water supply, sewage (elevator assembly, waterway assembly, plumbing equipment, sewer risers, wells); - electrical systems (wiring, electrical distribution shields, rchitters, lighting, electrical equipment); - systems of ventilation and air conditioning; - fire-fighting, Security, monitoring systems; - SCS systems. Physical deterioration Engineering infrastructure 10% - 20%. Table 8. The cost of operating a business center calculated on the cost method

Total square sq.m.	21 300
Square of public seats sq.m.	5 400
Priest territory	15 580
Expenditures	in the month (rub.)
PODER OPERATION MANAGEMENT SUPPORT TAXES
Operator Operator (1)	34 020
Energy Engineer (1)	31 500
Operation Engineer OVIVK (0.5)	15 120
Total photo management service:	80 640
PODER OPERATION SUPPORT TAXES
Electrician (2)	45 360
Plumbing (2)	45 360
Duty Worker (2)	30 240
Total Photo Service:	120 960
Total photos:	201 600
ETO and PPR Engineering Systems and Networks (Cost Limits)
System of internal, external and emergency lighting (with replacement of lamps)	15 400
Fire alarm system, fire alert system, automatic fire extinguishing system, security alarm system	30 400
Ventilation and air conditioning systems, supply and exhaust installations, chiller, air conditioning and fan coil, smoke removal system	35 200
Elevators and escalators	31 600
Heat supply system, water supply system and fireproof water supply; drainage system; Air-thermal curtain system	28 800
Services of emergency brigade	12 000
Monthly costs for inventory and tools	4 800
Monthly consumables	8 500
Depreciation of overalls	5 586
TOTAL:	172 286
Whole exploitation	373 886
CLINING CLINING CLINGE
Brigadier (1)	22 680
Internal cleaning specialist (10)	100 800
External cleaning specialist (3)	37 800
TOTAL CLINING CLINE:	161 280
Costs for cleaning
Equipment (shock absorption)	8 600
Inventory (depreciation)	5 250
Overalls (depreciation)	7 655
Monthly consumables (detergents and cleaning products)	37 500
TOTAL:	59 005
Total customer costs:	220 285
Total direct costs:	594 171
overhead (10% of direct expenses)	59 417
profitability (12% of direct expenses)	78 431
Total cost of services without VAT	732 019
VAT 18%	131 763
TOTAL with VAT per month	863 782
tOTAL with VAT for 1 sq.m per month	40,55
The cost of operation and cleaning services BC "_______" per 1 sq.m. common Square Monthly USD (course 27 rubles)	1,50

It is also worth considering that the cost of operation is a non-permanent value. It changes from month a month, because the cost of it, depending on the season, differ. When preparing for the heating season in August-September, the cost of operation is higher than in April-May. Therefore, it is not entirely true to use averaged value (this error is inherent in many business consultants). You can specify an average value that is spent on operation, for example, $ 2.5 per square meter. m per month. But it should always be remembered that in the summer it can decrease to $ 1.5, and in the fall rise to $ 3.5 per square meter. m per month.

The operational expenses include actual and current The costs of maintaining an object in a working condition. Operating expenses differ significantly from such a well-known concept as "cost." The main difference is the absence of such an article in operational expenditures as "depreciation deductions".

Operating expenses, as well as in other industries, can be divided into permanent and variables.

TO permanent expenditurerefers independent of the degree of loading of the property:

- Taxes on real estate;

- property insurance costs;

- expenses for ensuring fire safety, protection of the building as a whole;

- part of the management costs;

- Part of the operating costs, when, for example, under the central heating of the building, the owner is not possible to turn off the heating from unused premises, etc.

TO variable expensesrefer to directly depending on the degree of loading of the object:

- utilities;

- expenses on the earned service fee;

- the main part of the management costs;

- expenses to attract tenants and concluding lease agreements (advertising, legal services);

- costs for the content and cosmetic premises repair;

- costs of maintaining the territory;

- security costs;

- Reserve for substitution is a reserve for the upcoming costs associated with the replacement of those elements of the real estate object, which are less durable and which are periodically (although not annually) should be updated to ensure the normal functioning of the object (roof, floor, decoration elements, elevator, plumbing elements , electrical equipment, furniture, etc.).

Bibliographic list

1. Civil Code Russian Federation. Parts first, second and third. Official text. M.: IKF Omega, 2011.

2. Federal Law "On Assessment in the Russian Federation". From 06.08.98 No. 135 - FZ with additions in the 2013 revision.

5. Federal Evaluation Standard (FSO No. 1) " General concepts Estimates, approaches and evaluation requirements. " Approved by order of the Ministry of Economic Development of Russia of July 20, 2007. № 256.

6. Federal Standard of Estimation (FSO No. 2) "The purpose of assessment and types of value". Approved by order of the Ministry of Economic Development of Russia of July 20, 2007. № 255.

7. Federal Standard of Evaluation (FSO No. 3) "Requirements for Evaluation Report". Approved by order of the Ministry of Economic Development of Russia of July 20, 2007. № 254.

8. Federal Standard Estimation (FSO No. 4 "Definition cadastral value"(FSO №4). Approved by order of the Ministry of Economic Development on 10/22/2010. № 508.

9. Federal Law "On State Cadastre of Real Estate" of 24.07.2007. № 221-FZ. Adopted state Duma and approved by the Federation Council 11.07.2007.

10. International rating standards 2003 / Ed. Tip: I.L.Artemenkov, G.I.Mikerin: Per. with ang. - 7th ed. M.: OO "Ros. Society of appraisers ", 2009.

11. Land Code of the Russian Federation No. 136-FZ of 25.10.2001. Adopted by the State Duma of the Russian Federation, approved by the Federation Council 10.10.2001, signed by the President of the Russian Federation on October 25, 2001. M., 2002.

12. Asaul A.N. Real estate economics: Textbook for universities. St. Petersburg: SPbgas 2013.

13. Goremykin V.A. Real Estate Economy: Textbook. M.: Yuraight, 2012.

14. Mribovsky S.V. Mathematical methods for estimating the value of real estate: Tutorial / S.V. Mribovsky, S.A. Sivets; Ed. S.V. Mushroom, M.A. Fedotova. M: Finance and statistics, 2008.

15. Gryaznova A.G., Fedotova MA Property valuation. M.: Finance and Statistics, 2013.

16. Ivanova E. N. Real estate value assessment. Collection of tasks: Tutorial / E. N. Ivanova. M., 2009.

17. Nagaev R.T. Real estate: Encyclopedic dictionary. M.: Ideal press, 2013.

18. Evaluation of real estate: from value to value; per. from English G.I.Mikerina, A.I.Atemmenkov. M.: Roo, 2009.

19. Popova L. V. Evaluation and taxation of real estate and other

property of enterprises: educational and methodological manual / L. V. Popova, I. A. Yezhzhin, B. G. Maslov. M., 2009.

20. Tarasevich E.I. Property valuation. SPb.: SPB GTU, 2010.

21. Shcherbakova N.A. Real estate assessment: Theory and Practice: Uch. M.: Omega-L, 2012.

22. www.cbr.ru. - Central Bank of Russia

23. www.minfin.ru. - Ministerialism of Finance of Russia

23. www.nalog.ru. -The Federal Tax Service

24. www.gks.ru. - Federal State Statistics Service

25. www.conomy.gov.ru. - Ministry of Economic Development of the Russian Federation

26. www.uisrussia.msu.ru. - University Information System of Russia

27. www.libertarium.ru/library - Library of materials on economic topics.

28. HWWW.FINANSY.RU - Materials in socio-economic situation and development in Russia.

29. www.budgetrf.ru. - Monitoring economic indicators.

Introduction .............................................................................. 3.

Section 1. Basics of real estate economy ............... .4

classification ................................................................ 4

1.2. Specificity of the real estate market ....................................... ... 15

1.2.1. The concept and subjects of the real estate market ............................15

1.2.2. Features of the real estate market .................................... .19

1.2.3. Classification of real estate markets .............................. ... 22

1.2.4. Functions of the real estate market .......................................... .24

1.2.5. The main factors affecting the real estate market ... ... ..26

1.2.6. Analysis of real estate market information ........................... 30

1.3. Real estate financing .......................................... .35

1.3.1. Ways to finance real estate ........................... ..35

1.3.2. Essence and features of mortgage lending ................36

Section 2. Basics of real estate assessment ..................... 47

2.1.1. Stages of the estimation process of real estate .............................. ..47

2.1.2. Major methodical approaches to real estate assessment ...... .49

2.2. Cost approach to the assessment of real estate objects ...................50

2.2.1. Sequence of calculations with a cost approach ............ .51

2.2.2. Methods for determining replacement cost…………52

2.2.3. Methods for determining the accumulated wear. ........................ ..55

2.2.4. Examples of calculating the market value of real estate

on the cost approach ................................................... .. .... ... 67

2.3. Real estate assessment based on an income approach ............ ... 69

2.3.1. Structure of the income approach ........................................ ... 69

2.3.2. Methods for determining the coefficient of capitalization ............ .... 72

2.3.3. Examples of real estate estimates on an income approach ......... 76

2.4. Real estate assessment by direct sales comparison ...... .78

2.4.1. Methods for determining the amendments .......................................... 79

2.4.2. Units of comparison. ...................................................... .83

2.4.3. Examples of estimates ............................................................ 84

2.4.4. Comparison indicators. ....................................................88

2.5. Evaluation of land plots. ............................................. ... 91

2.5.1. Types of land value ................................................................. ..91

2.5.2. Method of direct comparative sales analysis in land assessment. 92

2.5.3. Method of seizure .......................................................................... ... 94

2.5.4. Method of capitalization of land rent .............................. .95

Appendix 1. Segmentation of the housing market ............................ ..97

Appendix 2. Stages of mortgage lending ........................ ..105

Appendix 3. Calculation of the cost of the reproduction of the building ............ ..108

Appendix 4. The composition of operating expenses for operation

buildings .............................................................................. .110

Bibliographic list ................................................... 111

Training edition

Rozhkova Olga Nikolaevna

Basics of Economics and Real Estate Evaluation

Teaching manual

Computer layout -

Cover -

Signed in print format 60x84 1/16

Sl. Pechs. l. 7.2. Ud. l. Ed. № Zak.

The current operating expenses (SEO) of the building are determined by summation:

foundation for remote personnel;

deductions for social needs of personnel (single social tax);

payments for utilities;

other expenses;

depreciation deductions for the complete restoration of the building.

The main and additional salary of the staff (Fund of remuneration - Fot) - 60,000 rubles. per month; deductions to the social needs of personnel (single social tax) - 30% of the phot; Payment of utilities - 70 rubles. per month per quarter. m. Useful area of \u200b\u200bthe building; Other expenses - 45 rubles. per month per quarter. m. Useful area of \u200b\u200bthe building; The annual rate of depreciation deductions for the complete restoration of the building is 1.0% of its total replacement cost.

The market analysis shows that, starting from the second year after repairing the building, income and expenses will increase annually, including:

staff salary - by 5.0%;

municipal and other expenses - by 7.5%

When calculating the total amount of payments for utilities and other expenses, the useful base of the basement is not taken into account.

The current operating costs of the building during its repair are not charged.

1 year: Soy \u003d 540 + 162+ 2229,6 + 1433,3 + 2331.5 \u003d 6696.4, thousand rubles.

personnel remuneration fund: 60 * 9 \u003d 540.0, thousand rubles;

executions on the social needs of personnel: 540.0 * 0.3 \u003d 162, thousand rubles;

payments for utilities: 0.07 * 3539 * 9 \u003d 2229.6, thousand rubles;

other expenses: 0.45 * 3539 * 9 \u003d 1433.3, thousand rubles;

2 years old \u003d 756 + 227 + 3195.71 + 2054,38+ 2331,5 \u003d 8564,59, thousand rubles.

personnel remuneration facility: ((60 * 12) * 0.05) \u003d 756, thousand rubles;

executions for social needs of personnel: 756 * 0.3 \u003d 227, thousand rubles;

payments for utilities: (0.07 * 3539 * 12) * 0.075 \u003d 3195.71, thousand rubles;

other expenses: (0.45 * 3539 * 12) * 0.075 \u003d 2054.38, thousand rubles;

depreciation deductions for the full restoration of the building: 233146.86 * 0.01 \u003d 2331.5, thousand rubles.

3 year: Soy \u003d 793.80 + 238,14 + 3435.71 + 2208.4 + 2331.5 \u003d 9007.55, thousand rubles.

personnel remuneration facility: (756 * 0.05) + 756 \u003d 793.80, thousand rubles;

executions of social needs of personnel: 793.8 * 0.3 \u003d 238.14, thousand rubles;

payments for utilities: (319.71 * 0.075) + 3195.71 \u003d 3435.71, thousand rubles;

other expenses: (2054.38 * 0.075) + 2054.38 \u003d 2208.4, thousand rubles;

depreciation deductions for the full restoration of the building: 233146.86 * 0.01 \u003d 2331.5, thousand rubles.

year: Soy \u003d 833,49 + 250.05 + 3693.71 + 2374,4 + 2331.5 \u003d 9483.15, thousand rubles.

personnel remuneration facility: (793.80 * 0.05) + 793.8 \u003d 833.49, thousand rubles;

executions on social needs of personnel: 833,49 * 0.3 \u003d 250.05, thousand rubles;

payments for utilities: (3435.71 * 0.075) + 3435.71 \u003d 3693.71, thousand rubles;

other expenses: (2208.4 * 0.075) + 2208,4 \u003d 2374.4, thousand rubles;

depreciation deductions for the full restoration of the building: 233146.86 * 0.01 \u003d 2331.5, thousand rubles.

year: Soy \u003d 875,16 + 262.54 +3970.71 + 2552.4 + 2331.5 \u003d 9992,31, thousand rubles.

personnel remuneration facility: (833.49 * 0.05) + 833,49 \u003d 875,16, thousand rubles;

executions on social needs of personnel: 875,16 * 0.3 \u003d 262.54, thousand rubles;

utility payments: (3693.71 * 0.075) + 3693.71 \u003d 3970.71, thousand rubles;

other expenses: (2374,4 * 0.075) + 2374,4 \u003d 2552.4, thousand rubles;

depreciation deductions for the full restoration of the building: 233146.86 * 0.01 \u003d 2331.5, thousand rubles.

The property tax (NI) is determined in the amount of 1.0% of the residual value of the building in each predicted year:

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