REAL ESTATE APPRAISAL SERVICE FAIR MARKET RENTAL VALUE STUDY

The County of Orange, County Procurement Office, has awarded a contract to R. P. Laurain & Associates, Inc. for real estate appraisal services. The contract is for a fair market rental value study of boat slip rates at Dana Point Harbor in California. The study will include a survey of various marinas in Southern California to determine the fair market rental value of boat slips. The contract has a term of six months and a not-to-exceed limit of $21,450. The vendor will provide a formal appraisal report that includes a summary description of the subject property, market data, and slip rate conclusions. • The contract includes a scope of work that outlines the tasks to be performed by the vendor, including subject property research, market data research, rate analysis, and report write-up. • The vendor will provide an invoice for services rendered, and the County will pay the vendor based on the hourly rate of $165 per hour. • The contract includes a notice provision that outlines the procedures for providing notice to the parties. • The contract includes a provision for payment and invoicing, which requires the vendor to provide an invoice on their letterhead with specific information, including the contractor's name and address, remittance address, and service dates.