This study investigates the impact of Internet usage on the financial performance of residential real estate brokerage firms using a database of over 1,700 observations. Factor loadings and a factor score for Internet usage are developed. The results show that Internet use is positively related...

This paper develops an option-theoretic model of a retail lease. The standard retail lease contains provisions for a security deposit, a base rent, and a percentage rent or a sharing between landlord and tenant of rent revenue above a preset sales threshold or break point level. The findings...

This paper provides a framework for adjusting distressed real estate properties for liquidating discounts. We estimate the probability of receiving an offer on a property in any particular short interval of time. Our empirical evidence allows us to predict the average rate at which offers will...

This paper examines the effects of rental concessions on apartment rent and occupancy rates. Using limited-information maximum likelihood estimation, equations for rent, occupancy, and concessions show that landlord-supplied rental concessions have a positive effect on both rent and occupancy...

Rent plays a vital role in property valuation because any positive or negative influence on rent will in turn affect a property's value. This paper examines the effect of mass transportation on apartment rent. Specifically, this study investigates the impact on rent and value for residential...

This paper explores the profitability of real estate franchises. The database for the study consists of observations from the National Association of Realtors©' 2001 survey of real estate brokerage firms. Franchises are found to generate additional revenue for franchisees. However, net...

Recent empirical work has investigated substantial lists of factors that have been employed to explain market rents for residential income property. These factors range from physical attributes to vacancy rates. To better understand the myriad factors that have been demonstrated to affect...

This paper examines apartment rental concessions and their effect on property values through apartment rent and occupancy rates. A simultaneous equation model is used to estimate rent and occupancy equations in linear, semilog, and logged form. The results show that rental concessions have a...

An apparent paradox in household wealth accumulation in the United States is the relatively small holding of financial assets and the large holding of housing wealth. To explain the high concentration of household wealth in housing, this paper estimates the marginal propensity to consume from...