Residential Properties: Appraisal Frequency??

[Meghan Chomut]

Is there a general rule of thumb for how often I should be getting my real estate appraised? So far I've just been using my own judgement on what they are worth (I am not a real estate professional) by looking at comparables in my region.

But then, I was thinking that businesses look at their valuation annually, and I'm wondering if I should do the same.

[Austin Fruechting]

For what purpose?  Are you thinking of selling or refinancing? If not, there's no reason to pay for appraisals.  

If you are thinking of selling or refinancing the bank typically has to be the one to order the appraisal and they won't use one you bring in so you'd have to pay for it again. 

I have 107 units across 49 properties.  I've never just randomly gotten one appraised.