What is the process of gathering and maintaining data related to properties called?

The process of gathering and maintaining data related to properties is known as collecting and maintaining property information. This process is essential in the field of real estate appraisal, as accurate and up-to-date data on properties allows appraisers to make informed valuations. It includes various activities such as inspecting properties, recording pertinent characteristics, and updating databases to reflect any changes like renovations or market conditions.

This ongoing data collection ensures that appraisers have comprehensive insights into the real estate market, which is crucial for accurate assessments. By systematically maintaining this information, appraisers can enhance the reliability of their appraisals, supporting the credibility of the valuation process.

Other options do not accurately describe this process. For instance, field review frequency refers to how often properties are physically inspected, rather than the overall data collection process. Average Level of Assessment pertains to comparing assessed values to market values, and Standard for Uniformity typically addresses consistency among appraisals but does not encapsulate the data gathering aspect. Thus, the correct answer specifically highlights the foundational activity vital to real estate appraisal.