1.Overview of Marshall & Swift Commercial
With Marshall & Swift commercial property appraisal features in PACS, you can enter data that the Marshall & Swift system uses to calculate depreciation for commercial properties and determine replacement cost new (RCN) values. The results of the Marshall & Swift calculations are stored within PACS.
Activation & Licensing of the Marshall & Swift Module in PACS
To activate the Marshall & Swift module in PACS, your office must contact Harris Govern Client Services.
In order to use the Marshall & Swift features in PACS Appraisal, your organization must purchase a license directly from Harris Govern. For more information, contact the Harris Govern Sales Department.
Annual Data Update
Harris Govern provides an annual update for its customers who use Marshall & Swift. To request an update to your tables input a TeamSupport ticket with which quarter update you would like to receive.
Supplementing Properties Containing Marshall & Swift Data
To supplement a property with Marshall & Swift data in a year layer for which the Marshall & Swift module was not activated, in the property’s Improvement dialog box, you must enter either a flat value or distribute value.
Note To access the Improvement dialog box, click the Details button displayed under a property record’s Improvements tab.
If you suddenly lose access to Marshall & Swift, there may be an issue with the license. In this case, contact Harris Govern Support.
2.Identifying Commercial Properties (MVP)
Purpose
Use this procedure to enable state codes for use in the Marshall & Swift system.
Procedure
- In PACS, choose Tools > Comparable Property > Commercial Maintenance> Identify Commercial Property.
- Move the state or use codes that will be used in the Marshall & Swift system from the Available State Codes column to the Selected State Codes column. Then click OK.
3.Creating and Modifying Commercial Improvement Data Using M&S (MVP)
Purpose
Use this procedure to make entries that the Marshall & Swift system requires to appraise replacement cost new (RCN) and depreciation values of commercial properties.
As part of this procedure, you select the depreciation type to use for the calculations (described in Area B below). The available depreciation types are:
Depreciation Type |
Description |
Marshall & Swift Tables |
Uses values provided by Marshall & Swift. |
Physical |
Determines the loss in value due to physical deterioration. |
Functional |
Determines the loss in value due to lack of utility or desirability of part or all of the property, inherent to improvement or equipment. |
Age/Life |
Estimates all forms of depreciation sustained by an asset. It is based on the effective age of the property or component, divided by the total economic life of the property or component. Example The roof of an apartment building is effectively 10 years old and has a total economic life of 25 years. It is 10/25 depreciated (40%) based on the age-life method of depreciation. |
Recommendation
While you work, we recommend referencing a copy of Marshall & Swift’s Commercial Estimator Occupancy Reference published at http://www.swiftestimator.com/ce.asp.
This reference specifies the components allowed for occupancy codes.
Prerequisites
- Your office has contacted True Automation Client Services to request the activation of the Marshall & Swift module in the PACS configuration table.
- In order to perform this procedure, the following user right must be assigned to your user ID:
- Tools> User Administration > Rights/Groups > Marshall & Swift – Create/Edit
- State codes required for the commercial properties have been enabled. For more information, see Identifying Commercial Properties.
- The Marshall/Swift Type attribute in Tools > Code File Maintenance > Improvements > Type Code Maintenance has been set to
C (Commercial)
.
Procedure
- In PACS, do one of the following:
- Create a new improvement segment using Marshall & Swift
- Open the property and expand the Improvements panel. Then, in the Improvements section, click New
- In the Improvements dialog box, enter data for the new improvement as required. Then, in the Improvement Details section, click New
- Proceed to Step 2.
- Modify an existing improvement segment using Marshall & Swift
a. Open the property and expand the Improvements panel.
b. In the Improvement Details section, do one of the following:
- If Marshall & Swift data has not been entered already for the improvement, select the improvement and then click Details. Then proceed to Step 2.
- If Marshall & Swift data has been entered for the improvement, open the improvement detail, click the M&S Details button, and then proceed to Step 3 below.
In the Values section of the Improvement Detail dialog box, select Marshall & Swift.
- In the Estimate Information section of the Marshall & Swift Commercial Details Dialog box, complete the following fields:
- Zip Code
- Quality
- EffAge Adj
- Local Multiplier
- Base Date
- Total Area
- Report Date
- Review the information in the Depreciation Information section and complete the following fields as required:
- Dep Type
- Eff. Yr. Built
- If you selected the depreciation type
Separate Phys and Func
, complete the following fields:- Physical
- Functional
In these fields, you can enter
0-100
to calculate the combined physical and functional depreciation of the property. If you enter0
, no depreciation is applied.
- Typical Life
- Age
- If you selected the depreciation type
Combined Phys and Func
, complete the field Phys + Func. - Additional Functional
- External
Note To review descriptions of the depreciation types, see the Purpose section above.
- To create or modify section information for the commercial estimate, click Details or Add and do the following in the Marshall & Swift Commercial Section Detail Dialog box:
- ID
- Type – If choosing Basement type, proceed to the next step. If choosing Building type, then enter the following information as required and then click OK or Apply:
Note A Building type section must be created before a Basement type section can be created.
- Description
- Either choose Perimeter and enter the numerical value of the perimeter, or choose Shape and select the shape of the improvement.
- Eff. Yr. Built
- # of Stories
- Area
- Eff. Age
- Review the Depreciation Information section. If you wish to enter value different from the values entered in the estimate, select Override Depreciation Information.
- If you chose Basement type, enter the following information as required and then click OK or Apply:
- Description
- Either choose Perimeter and enter the numerical value of the perimeter, or choose Shape and select the shape of the improvement.
- # of Levels
- Associated Building Section
- In the Occupancy Information section of the Marshall & Swift Commercial Details Dialog box, complete the following fields as required:
- Type/Code
Note To review the Marshall & Swift occupancy codes that you can choose from, see Marshall & Swift’s Commercial Estimator Occupancy Reference published at http://www.swiftestimator.com/ce.asp.
- %
Note While Marshall & Swift does allow for dual occupancies, the total percentage of all occupancies must total 100%.
- Class
- Height
- Override Quality/Rank
- Quality/Rank
- Desc
- Area w/ %
Note If the corresponding Section Type is Basement, columns in the Occupancy Information grid will change accordingly.
- Type/Code
- In the Component Information section, complete the following fields as required.
Note Some components require a value in the % field while others require a value in the Units fields described below. See the Values for Component Fields table below as a reference for completing these fields.
- System
- Code
- %
- Quality/Rank
- Units
- Deprec. %
- # of Stops
- Climate
- Total Cost New
- Unit Cost
- Depr. Amt
- Depr. Cost
Values for Component Fields
Component
Value Required in
Unit fieldValue Required in
% fieldOther Optional Fields for Completion
Wall
None
% of total wall
None
HVAC
Sq. feet of floor area served
% of total area served
Climate field
Elevator (by sq. foot)
Sq. feet of area served
% of area served
None
Elevator (by count)
Number of elevators
None
# Stops field
Sprinklers
Sq. feet of floor area served
% of total area served
None
Mezzanines
Sq. feet of mezzanines
None
None
Balconies
Sq. feet of balconies
None
None
Mall
Sq. feet of mall
None
None
Fire Alarm Systems
Sq. feet of area served
% of area served
None
- To modify or create additions, enter the following information in the Additions grid as required:
- System
- Description
- Units
- Unit Cost Unit Cost of the addition.
- Deprec %
- Effective Year Built
- Typical Life
- LM
- Trend
- Base Date
- Total Cost New
- Unit Cost
- Depr. Amt
- Depr. Cost
- Enter any remarks as required in the Remarks field.
- Use the following options as required:
- To generate the Estimate Report, which gives a breakdown of the values used in Marshall & Swift to value the occupancy and shows the depreciation taken, click Preview, Print or Print All.
Note While Print prints the Estimate Report for the single improvement segment that is selected, Print All prints the Estimate Report for all of the improvement segments on the property that use Marshall & Swift data.
- To carry out a recalculation of the property that includes the Marshall & Swift values you have entered, click Recalculate.
- To generate the Estimate Report, which gives a breakdown of the values used in Marshall & Swift to value the occupancy and shows the depreciation taken, click Preview, Print or Print All.
- To save your entries, either click Apply to save the data and leave the dialog box open, or click OK to save the data and close the dialog box.
Result
The Marshall & Swift system automatically calculates the value of the improvement based on your entries.
Troubleshooting
If you receive an error while carrying out this procedure, check Marshall & Swift’s Commercial Estimator Occupancy Reference published at http://www.swiftestimator.com/ce.asp to determine if the components selected are allowed for an occupancy code.
4.Viewing Commercial Improvement Data Entered Using M&S (MVP)
Purpose
Use this procedure to view improvement segments on a property that contain Marshall & Swift values.
Prerequisites
- In order to perform this procedure, the following user right must be assigned to your user ID:
- Property > Edit Property > Improvements > Edit Marshall/Swift Commercial Improvements
Procedure
- Open the property and expand the Improvements panel. Then, in the Improvement Details section, open the improvement detail and click the M&S Details button.
The Marshall and Swift dialog box is displayed.
- Review the Marshall & Swift values.
5.Reviewing Marshall & Swift Estimated Commercial Values (MVP)
Purpose
Use this report to review:
- A breakdown of the values used in Marshall & Swift to value the occupancy.
- The depreciation taken.
Procedure
- In PACS Appraisal, open a property and click the Improvements panel. Then, in the Improvements section, click M&S.
The Marshall and Swift dialog box is displayed.
- Click Print or Print All.
Note While Print prints the Estimate Report for the improvement segment that is selected, Print All prints the Estimate Report for all of the improvement segments on the property that use Marshall & Swift data.
6.Generating the Marshall & Swift Data Entry Report w Appr Cards (MVP)
Purpose
Use this report to generate the Marshall & Swift Data Entry Report when generating appraisal cards for field work.
The report includes the Marshall & Swift data entered on improvement segments.
Prerequisites
- In order to perform this procedure, the following user right must be assigned to your ID:
- Activities > Print Appraisal Card
Procedure
- In PACS, choose Activities > Appraisal Cards. Then choose your printing option (Print All Properties, Print User Defined, etc.).
- In the Card Type drop-down list in the Print Appraisal Cards dialog box, select
Field Review Card
. - In the Options section, select the print Marshall & Swift report options, and other options as required.
- Select either Preview or Print.