Single residential property assessors and professional candidates



The proposed amendments to the Rules for the Property Valuers Profession come into operation on 1 September 2003. The rules will be published on 8 August 2003 in the Government Gazette. The subjects necessary for this qualification are: Property Valuation 1 Property Practice 1 Property Economics & Finance 1 Law on Property Valuation Principals of Property The above are all subjects in the existing National Diploma of Real Estate (Property Valuation) and are available from Technikon SA and certain Technikons. Once completed, the candidate will be expected to undertake the Council Examination for Professional Single Residential Property Assessors, a practical examination comprising a valuation of a single residential property together with a motivated report, and the prescribed examination referred to in the act. It is also expected that the candidate attends the Council's practical workschool, passes their examination and acquires practical experience in valuation according to the regulations. Thereafter the single residential property assessor may value for: Purchase, sales & capital gains tax Rental determination Mortgage bonds & security Investments (pension funds etc) Leasebacks Land Bank Expropriation Endowment Compensation: town planning schemes Rating Deceased estates Financial statements Insurance Types of property: Vacant single residential land Single dwellings Individual flats (sectional title) Registration with the SA Council for the Property Valuers Profession as a candidate single residential property assessor: 1. A person wishing to be registered as a candidate must submit the following documents: · An application on prescribed application form obtainable from the Council, also on their website, together with registration fee of R150 · Written proof of enrolment for the courses at the Technikon (the academic qualification) · An annual fee of R150 is payable after registration 2. A person wishing to be registered as a professional single residential property assessor must submit an application on the said form together with written proof of the academic qualification. Registration fee - R150, annual fee R680. 3. Practical workschools: Only those with the academic qualification may attend the workschool, which is organised by the SA Institute of Valuers. 4. Practical examinations: These examinations are conducted by the various branches of the Institute of Valuers. 5. Council Examinations: These examinations are conducted by the Council twice a year in February and August. A person wishing to apply must: · Apply by 31 June for the August exam, and by 30 November for the February exam · Be in possession of the academic qualification · Have attended the workschool and passed the examination at the end · Have passed the Practical Examination · Pay the examination fee of R400 Contact numbers: Technikon SA 021 - 930 3315 SA Council for Property Valuers Profession 012 - 348 8643