In the appraisal of an apartment building, adjustments for higher rent for elevator and central air conditioning are needed. Why must the appraiser be careful in making this adjustment?

• A. The appraiser may be double-adjusting
• B. The appraiser should always adjust twice
• C. The appraiser should ignore such features
• D. The appraiser should adjust only for location

Answer: (B)

Elevator capability and central air conditioning add real value to an apartment building by boosting potential rent and desirability, so adjustments are needed to reflect that premium when comparing properties. The key caution is that this premium can be embedded in multiple places in the data you’re using, and if you apply it only once you risk misrepresenting how much difference these features actually make. By approaching the adjustment in two related steps, you help ensure the premium is captured accurately without overstating or duplicating the effect across the income and value signals in the analysis. This careful dual consideration helps align the adjustment with how the market reacts to those amenities.