QUSU06024 2019 Property Valuations

Define the concept of property as an asset and demonstrate an ability to apply common methods of valuation.

Comprehend the impact of property and facilities management on the rental and capital value of a property

Appreciate the importance of occupational lease terms to the capital value of a property Asset.

Introduce practical management strategies to an asset and Elaborate on the importance of asset management in the context of residential and commercial property investment

Elaborate on the importance of active asset management in the context of multi owned properties (OMC) and commercial owner occupiers

Outline the main elements involved in property valuation and Analyse property market transactions in both residential and commercial markets.

Analyze the basic dynamics of property markets and the relationship between income and capital value.

Apply comparable investment valuation techniques for all commercial property markets, and manipulate comparable yields using a basic property and income risk investment.

This module will be delivered using blended learning techniques. This will include online lectures (via adobe connect or similar), workshops and work based learning where relevant and guest lectures augmented by independent learning and directed learning. This approach is expected to address student learning needs. Moodle will be used to upload educational material (i.e. presentations and recordings of online lectures plus supplementary reading material) and as a means of assessment (e.g. quizzes, uploading assignments and journals). This blended approach (lectures and workshops) brings students together to facilitate group learning.

This module is 40% Continuous Assessment and 60% Final exam

Repeat Continuous Assessment and/or Final Exam.

• The use of property as an asset and the methods of valuation and how values are Determined. The concept of active property asset management in the context of all Properties. One of the things that separates 1st world economies from those of the developing world in the context of the built environment, is the commitment to maintain, reinvest or redevelop property assets in order to maximise their value.

• Occupational costs to a property investor and the impact of high/low service charges/occupation costs to a market rent.  Occupational costs can impede the ability to charge higher rents having a direct impact on the capital value and return on capital to the property investor.

• The differences in commercial and residential leases in determining net yields from property investment, comparing the nature of the asset from an investment perspective and understanding leases in the environment of property asset management.

• The need for active management in the context of owner occupied commercial property or from the perspective of the long term occupational leaseholder.

• The need for active management in the context of multi-owned properties.  In the context of owner management companies or commercial properties in a co-owned environment the sustained management, maintenance and reinvestment is paramount for the enjoyment of the property asset and in maintaining or increasing its value.

• The structure and nature of the commercial and residential property markets and the role of the valuer.

• Concepts of value and price

• Measurement

• Five methods of valuation; comparative, income, residual, contractors and investment.

• Yields and yield calculation

• Inducements and transaction analysis