Recording Adjustments
When using the comparison approach, adjustments account for differences between comparable properties and the subject property. Redbook Assist provides structured adjustment recording.
Types of adjustment
| Adjustment | Typical factors |
|---|---|
| Size | Larger properties often achieve a lower rate per sq m/ft (quantum effect) |
| Condition | Relative condition compared to the subject — refurbished vs dated |
| Location | Micro-location differences — road frontage, aspect, proximity to amenities |
| Tenure | Freehold vs leasehold, unexpired term, ground rent obligations |
| Specification | Quality of fit-out, mechanical and electrical services, amenities |
| Age | Construction date, period features, or modern specification |
| Time | Market movement between the comparable date and the valuation date |
| Other | Any other relevant factor (parking, external areas, planning restrictions) |
Entering adjustments
When linking a comparable to a valuation:
- Select the comparable from your database
- For each adjustment factor, enter a percentage (positive = upward, negative = downward)
- Add a note explaining the rationale for each adjustment
- The system calculates the adjusted rate automatically
Best practice
- Document your reasoning — An adjustment without explanation has little evidential weight. Use the notes field to record why you made each adjustment.
- Be consistent — Apply the same methodology across all comparables in a valuation
- Keep adjustments reasonable — Individual adjustments over 15-20% may undermine the reliability of the comparable. If adjustments are very large, consider whether the comparable is genuinely useful.
- Net vs gross — Consider the cumulative effect of all adjustments. A comparable with many small adjustments may still be heavily adjusted overall.
In your report
Adjustments appear in the comparable evidence table of your PDF report, showing the original rate, each adjustment percentage, and the final adjusted rate. This transparency supports RICS compliance requirements.