PREAMBLE: Any interest in real estate capable of generating income can be valued using the Direct Capitalization Approach. This approach is commonly applied by most assessment valuation agencies. It requires an appropriate determination of net operating income which creates the necessity for an appropriate estimate of fair market rents, vacancy and operating expenses. Depending on the quantity and quality of available data there are various techniques to be used. This webinar will cover the challenges assessors and valuators face in deriving net operating income in the application of the valuation methodology. Data requirements and practical application of the methodology will be discussed.