JFPC Ltd

VALUATION SCHOOL

APC Revision Module

APC Revision Module for Commercial Real Estate and Valuation Pathways

This APC Revision Module gives verbal answers to typical APC questions in the Core Competencies of Valuation, Inspection and Measurement and, the Optional Competency of Landlord and Tenant.

The Module will also provide an outline of the knowledge and understanding for the Optional Competencies of Development Appraisals, Leasing and Letting, Purchase and Sale and, Property Management together with the Mandatory Competencies.

The structure of the Final Assessment will be addressed, and advice given on the Case Study Presentation and answering questions.

CORE COMPETENCIES OPTIONAL COMPETENCIES etc

Valuation

RICS Global Red Book 2024 and the UK National Supplement 2023:

  • Competence, Exceptions, Departures, Terms of Engagement, Reports, Bases of Value, Assumption and Special Assumptions.

The 5 Conventional Methods of Valuation:

  • Comparable, Investment, Residual, Profits / Accounts and Contractors / DRC

Conventional Investment Valuation Techniques:

  • Gross and Net Yields, Term and Reversion, Hardcore / Layer, Over-rented, Equivalent Yield and True Equivalent Yield

Growth Explicit Techniques:

  • Investment Value and Worth, Gross and Net Present Value and, Equated Yield

Landlord & Tenant

Lease v Licence

Landlord and Tenant Act 1954

  • Sections 24 – 28, Friendly and Hostile Notices, The Power of the Courts, Contracting Out, Interim Rents.

Rent Reviews

  • The Machinery / Time of the Essence, The Basis of Value / Assumptions and Disregards, Settling Disputes / Expert and Arbitrator, Calderbank Offers

Repairs

  • Schedules of Condition and Dilapidations, S18(1) of the 1927 Act

Alterations and Improvements; Alienation; User; Break Notices

Inspection

Purposes

  • Valuation, Lease Renewal / Rent Review

RICS Guidance Note, Surveying Safely

  • Pre-Inspection Risk Assessments

Basic Building Construction

  • Walls, Roofs, Frame Construction, Portal Frames, Specifications

Basic Building Defects

Damp, Structural Movement, Deleterious Materials

Other Optional Competencies

Development Appraisals; Leasing and Letting; Purchase and Sale; Property Management

Mandatory Competencies

Conduct Rules, ethics and professional practice; Client care; Communication and negotiation; Health and safety; Accounting principles and procedures; Business planning; Conflict avoidance, management and dispute resolution procedures; Data management; Sustainability; Teamworking.

Measurement

RICS Code of Measuring Practice, 6th Ed, 2015

RICS Property Measurement, 2nd Ed, January 2018

International Property Measurement Standards:

All Buildings, 2023

  • IPMS / GEA, GIA, NIA

Equipment, Scale and Accuracy

The Final Assessment Interview

Structure

Case Study Presentation

Answering Questions

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