The Appraisal Institute, the nation’s largest professional association of real estate appraisers, announced Feb. 11 it has released a form intended to help appraisers analyze values of commercial buildings’ energy efficient features. It is the first of its kind intended for appraisers’ use.

The Appraisal Institute’s Commercial Green and Energy Efficient Addendum offers a communication tool that lenders can use as part of the scope of work. The addendum also assists investors in communicating the construction features of the property that impact income. Appraisers, builders, energy modelers, green certifiers, architects and investors should use the addendum even if a property is not certified green by a formal certifying organization, but does possess green features. The water and energy efficient features are key to a higher net income, and appraisers should take care to identify these features, the Appraisal Institute said.

“The market has many different ideas of what makes a property green, and this addendum will assist in understanding actual green features,” Appraisal Institute President Lance Coyle, MAI, SRA, said. “After the construction of a building, the construction features are often forgotten, and the blueprints and specifications are often misplaced or overlooked.”

The addendum can be completed in its entirety, or qualified individuals can use only the pages that apply. Appraisers are required to have sufficient knowledge of these features to review the addendum completed by others and deem it credible to meet Uniform Standards of Professional Appraisal Practice standards for work relied upon by others.

The Appraisal Institute’s 10-page Commercial Green and Energy Efficient Addendum is available on the institute’s website.