An appraiser can ensure that values for operating expenses and net income are valid by comparing them with similar properties. What tool can she use?

The correct answer is the operating expense ratio, which is a valuable analytical tool used by appraisers to evaluate the efficiency of a property in terms of its operating expenses relative to its income. This ratio is calculated by dividing the total operating expenses of a property by its effective gross income.

By examining the operating expense ratio for similar properties, the appraiser can gauge whether a particular property is operating efficiently and how its expenses compare to industry norms. If the operating expense ratio is significantly higher or lower than that of comparable properties, it could indicate potential issues or advantages that may affect the overall value of the property.

Utilizing this ratio allows appraisers to ensure that the values derived from operating expenses and net income are realistic and grounded in market data, enhancing the accuracy of their assessments. This not only aids in validating a property's operational performance but also assists in making more informed decisions regarding property valuation and investment potential.