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ADDENDA <br /> Use value. <br /> 1. In economics, the attribution of value to goods and services based upon their usefulness <br /> to those who consume them. <br /> 2. In real estate appraisal, the value a specific property has for a specific use; may be the <br /> highest and best use of the property or some other use specified as a condition of the <br /> appraisal; may be used where legislation has been enacted to preserve farmland, <br /> timberland, or other open space land on urban fringes. <br /> Vacancy and collection loss. An allowance for reductions in potential income attributable to vacancies, <br /> tenant turnover, and nonpayment of rent; also called vacancy and credit loss or vacancy and contingency <br /> loss. <br /> Variable expenses. Operating expenses that generally vary with the level of occupancy or the extent of <br /> services provided. <br /> Yield capitalization. The capitalization method used to convert future benefits into present value by <br /> discounting each future benefit at an appropriate yield rate or by developing an overall rate that explicitly <br /> reflects the investment's income pattern, value change, and yield rate. <br /> Yield rate (Y). A rate of return on capital, usually expressed as a compound annual percentage rate. A <br /> yield rate considers all expected property benefits, including the proceeds from sale at the termination of <br /> the investment. Yield rates include the interest rate, discount rate, internal rate of return (IRR), overall <br /> yield rate(Y0)and equity yield rate (YE). <br /> Clobus, McLemore & Duke, Inc. <br />