Questions owners ask before they call

We price commercial property, read leases and advise owners on running a portfolio, then write down what we would do. The work comes as three services: property valuation, lease analysis and portfolio management. We work for owners of one to twenty buildings, business tenants and community lenders in Wyoming, northern Colorado and remotely across the US.

No. Our portfolio work is advisory asset management: reporting, strategy, calendars, budget review and oversight of the managers you hire. We do not collect rents, hold deposits, show space, sign leases or handle tenants. Wyoming statute 33-28-102 defines property management as managing real estate for another for compensation, including collecting rents, and our work stays outside it.

No. We read what a lease says and flag language that is unusual or conflicting, but what a disputed clause means is a question for your attorney. How a sale, an exchange or an entity is taxed belongs with your CPA. Securities are out of scope; when we say portfolio, we mean real estate.

Only the client who hires us pays us, by a fixed fee agreed before the work starts. We take no commissions, no contingency fees and no share of a sale, loan or tax result, and we have nothing to sell you afterward. A higher value or a lower one makes no difference to what we earn.

Yes. The leases, rent rolls and financials you send are used only for your engagement and are not shared outside Clover State without your permission, including with any licensed partner we coordinate. After the engagement, we delete them on request. The privacy policy sets out how documents and form details are handled.

In person across all of Wyoming, from Cheyenne to Sheridan, and in northern Colorado and the Front Range, including Fort Collins, Loveland, Greeley and Denver. Anywhere else in the US, we work by document review and video call. Site visits in Laramie County are included; elsewhere, travel is billed at cost and quoted up front.

Yes. Owners anywhere in the US work with us by document review and video call, and lease abstracts are remote by design. A valuation snapshot is a desktop review built on the photos and documents you send. If a site visit would change the answer, we say so on the scoping call and quote the travel before you sign.

A lead advisor runs each engagement from the scoping call to the memo, and is named in your engagement letter rather than on this site. A second reader checks every report and abstract. Where a licensed appraiser, attorney, CPA or broker is required, we say so and coordinate one; we never act as one.

Every engagement is a fixed fee, quoted in writing after a free 30-minute scoping call. Half is due on signing and half on delivery; retainers are billed monthly. There is no hourly billing, no contingency fee and no commission. The pricing page lists every program with its indicative starting price and turnaround.

That depends on the program and the property, and your quote sets the exact fee. A lease abstract is from $275 per lease, a valuation snapshot from $950 per property and a valuation advisory report from $3,500 per property. A portfolio health check is from $2,500 for up to five properties, and the asset management retainer from $1,500 per month.

From 3 to 15 business days for most programs, and your quote names the date. A lease abstract takes 3 business days for up to 5 leases, a valuation snapshot 5 business days from complete documents, an acquisition review 7 business days, a valuation advisory report 10 to 15 business days and a portfolio health check 15 business days.

Usually, if you tell us the date on the scoping call. An acquisition review can be rushed in 3 business days, quoted separately. For Wyoming assessments, Washakie County’s appeal guidance says notices are mailed on or before the fourth Monday of April and owners must file no later than 30 days after the mail date, so the property tax assessment review takes 7 business days, inside that window.

Within one business day of your message or call request, Monday to Friday, 9 a.m. to 5 p.m. Mountain. After the scoping call, the written fixed-fee quote follows within two business days. Existing portfolio clients write to management@cloverstate.com; new work goes to info@cloverstate.com or the contact form.

Not in Laramie County, where site visits are included in the fee. Elsewhere in Wyoming and in northern Colorado, travel is billed at cost and quoted up front, so it is in the written quote before you sign. Desktop programs such as the valuation snapshot and the lease abstract involve no travel at all.

Two. Orders of more than 20 leases at once are priced from $225 per lease, and a valuation snapshot fee is credited in full against a valuation advisory report ordered within 60 days. At the starting prices, a $3,500 report ordered after a $950 snapshot costs $2,550 more.

Current leases and every amendment, the rent roll, a trailing twelve months of income and expense, the latest county tax notice and your loan terms. Send them after our first reply, not before. The document checklist lists each item by service and where owners usually find it; anything missing is listed in the memo, never guessed.

No. Clover State provides valuation advisory: opinions of value and consulting reports, not appraisals, and we never act as a licensed appraiser. The work suits decisions an owner makes, such as renewing, selling, refinancing or contesting an assessment. When a lender, a court or an estate needs a licensed appraisal, we say so on the scoping call.

Most bank loans above the federal threshold, and many court and estate matters, require one. In 2018 the Federal Reserve, FDIC and OCC raised the threshold for commercial real estate transactions requiring an appraisal from $250,000 to $500,000, per the Federal Reserve’s announcement. If yours needs one, we can scope the question and coordinate a licensed appraiser.

A valuation a lender may use instead of an appraisal on smaller commercial loans. Per the Federal Reserve, below the $500,000 threshold a financial institution may use an evaluation, which does not have to follow USPAP or come from a state licensed or certified appraiser. We prepare evaluations for community lenders; whether one suits a given loan is the lender’s call.

A broker’s opinion of value is usually free and offered in pursuit of the listing; ours is paid for by a fixed fee and earns us nothing from a sale. It shows every comparable, adjustment and assumption, so you can check the number line by line, and it ends in a recommendation, which may be not to sell.

By the approaches that fit the property: income, sales comparison and cost. For an income property the core is arithmetic: $96,000 of net operating income at an 8.0% cap rate indicates $1,200,000. The work is in defending each input, and a sensitivity table shows how the value moves when one shifts. The cap rate calculator runs the same math.

A snapshot if the decision is yours alone; the full report if partners, heirs or a buyer will read the reasoning. A valuation snapshot is from $950 per property in 5 business days, desktop only. The valuation advisory report is from $3,500 per property in 10 to 15 business days, with a site visit and a 25 to 40 page report.

Yes, as evidence you file yourself. The property tax assessment review tests the county’s value against the market and prepares the packet inside the 30-day window. Per Teton County’s guidance, Wyoming assesses commercial property at 9.5% of market value and industrial at 11.5%, so both the value and the class matter. We never promise a result.

Yes, in person in northern Colorado and the Front Range, and elsewhere by document review. Colorado assesses and taxes property differently from Wyoming, so the property tax assessment review is scoped per state and the Wyoming figures on this site do not apply there. Valuation and lease work run the same way in both states.