Property Valuers Profession Act, 2000 (Act No. 47 of 2000)RulesRules for the Property Valuers Profession, 2008AnnexuresAnnexure C.2 : Specific Rules - Single Residential Property Assessors and Candidate Single Residential Property Assessors |
ANNEXURE C.2
SPECIFIC RULES IN RESPECT OF SINGLE RESIDENTIAL PROPERTY ASSESSORS AND
CANDIDATE SINGLE RESIDENTIAL PROPERTY ASSESSORS
(REFER TO PART VIII)
| 1. | Academic requirements |
| (1) | Without derogating from anything contained in the Rules, a person wishing to be registered in terms of this Annexure shall submit written proof— |
| (a) | in the case of a candidate single residential property assessor, that he/she is enrolled for at least two of the following subjects of the National Diploma in Real Estate (Property Valuation), namely Property Valuation 1; Property Economics and Finance 1; Property Practice 1; Law of Property Valuation; or Principles of Property Law; or |
| (b) | in the case of a single residential property assessor, that he/she is in possession of the five subjects or similar subjects referred to in paragraph (a) or any other academic qualification recognised by the council; and |
| (2) | The following minimum periods of registration apply to a person registered in terms of this Annexure wishing to be admitted to the examination referred to in paragraph (a) of sub-item (1)— |
| (a) | three years from the date of his/her registration if he/she was registered without the academic requirement referred to in paragraph (a) of sub-item 1— |
| (b) | two years from the date of his/her registration if he/she was registered with the academic requirement referred to in paragraph (a) of sub-item (1); or |
| (3) | subject in general to Part IV of the Rules, the period of validity of the registration of a candidate single residential property assessor shall be valid for a period of five years from the date of registration. |
[Item 1 substituted by rule 7(a) of Board Notice 166 dated 21 October 2016]
| 2. | Examinations and requirements |
The following examinations or requirements are hereby prescribed as a test of practical competence, proficiency and experience in property valuation—
| (a) | the Admission Examination for Single Residential Property Assessors; and |
| (b) | written proof of completion of a practice orientated workschool administered by the council or its nominee; |
[Item 2( b) substituted by rule 3(a) of Board Notice 45 of 2012 dated 30 March 2012]
| (c) | a property valuation assignment, consisting of the performance of a single residential property, including a fully motivated written valuation report determined by the council from time to time. |
[Heading of item 2 substituted by rule 7(b) of Board Notice 166 of 2016 dated 21 October 2016]
| 3. | Required practical experience |
The practical experience in property valuation contemplated in section 20(2)(a)(iii) of the Act in respect of single residential property assessors, is as follows, namely that the applicant concerned has gained practical experience of work in property valuation in the Republic of the scope, variety, nature and standard set out in this Annexure.
| 4. | Required scope, variety, nature and standard of practical experience |
It is the responsibility of a candidate single residential property assessor and his or her supervisor, approved in terms of item 7, to ensure that that candidate gains a sufficient scope, variety, nature and standard of practical experience of work in property valuation by having him or her exposed to as many of the following as possible:
| (a) | Purposes of property valuation: |
As set out in item 3(a) of Annexure C.1.
| (b) | Types of properties: |
| (i) | vacant single residential land; |
| (ii) | single dwellings; |
| (iii) | individual residential units (sectional title and share block). |
| 5. | Assessment of practical experience |
| (1) | To assess, for the purposes of section 20(2)(a)(iii) of the Act, the practical experience of work in property valuation of an applicant applying in terms of section 20 of the Act in the category of single residential property assessor, the relative weights set out in Annexure B in respect of the various types of single residential properties for the different purposes of property valuations listed in item 4 shall be applied to the numbers of property valuations provided and substantiated by the applicant in his or her application form submitted by him or her, and shall be processed electronically to determine a total weight, which, together with the various types of single residential properties valued by the applicant for different purposes of property valuations shall form the basis for assessment. |
| (2) | In the electronic process referred to in subitem (1), the number, to a maximum of 100, provided and substantiated by an applicant in each cell reflected in Annexure B, shall be multiplied by the relative weight concerned and the aggregate of the resulting calculations shall be divided by 100 to determine the final outcome. |
| 6. | Application of assessment outcome |
As a general norm, the minimum outcome reached in the assessment referred to in item 5, shall be a weight of 80 and one type of property valued for one purpose of property valuation.
| 6A. | Additional requirements |
Without derogating from the provisions of this Annexure, the council may, in order to be satisfied that a person applying for registration as a single residential property assessor, and with due regard to his or her application as a whole, require that that person—
| (a) | gain further practical experience of work in the valuation of single residential properties, including the time during which he or she must gain such experience; |
| (b) | perform at least one property valuation assignment (other than the one contemplated in paragraph (c) of item 2) of a single residential property determined by the council, including a fully motivated written valuation report or reports thereof; |
| (c) | submit at least one certified copy of a property valuation report (other than the one contemplated in paragraph (c) of item 2) done by him or her; |
| (d) | appear before the council for a personal interview regarding his or her experience in property valuation work; or |
| (e) | submit any information or document relevant to his or her application, as identified by the council. |
[Item 6A inserted by rule 3(b) of Board Notice 45 of 2012 dated 30 March 2012]
| 7. | Supervision and control |
| (1) | For the purposes of this Annexure, the professional under the supervision and control of whom a candidate single residential property assessor must perform his or her work as provided for in section 19(3) of the Act, shall be a professional valuer or professional associated valuer or a single residential property assessor, recorded and confirmed as such by the council ("supervisor"). |
| (2) | The supervisor/mentor shall countersign all property valuation reports and other documentation relating to work in property valuation, prepared by the candidate single residential property assessor, as verification of the fact that the supervisor/mentor has exercised the supervision and control contemplated by the said section 19(3) in respect of that work. |
| (3) | Only work in property valuation performed under supervision and control in accordance with subitem (1), shall be taken into account by the council for the purposes of the determination referred to in item 5. |
| 8. | Restrictions and conditions |
| (1) | A person registered in the category of single residential property assessor or candidate single residential property assessor, shall be permitted to performing property valuation work in respect of only the single residential property cluster referred to in paragraph (c)(iii) of item 3 of Annexure C.1. |
[Item 8(1) substituted by rule 7(d) of Board Notice 166 of 2016 dated 21 October 2016]
| (2) | The provisions of subitem (1) shall not derogate from the council's powers under section 20(3) of the Act, in respect of any applicant applying, in terms of section 20(1) of the Act, for registration in the category of single residential property assessor or candidate single residential property assessor. |
| 9. | Cancellation or variation of restrictions and conditions |
A person registered in terms of this Annexure who wishes the restrictions and conditions referred to in item 8 to be cancelled or varied, must comply with all the requirements applicable to the registration of a candidate valuer as a professional valuer or as a professional associated valuer, as the case may be, including any other requirements prescribed or determined by the council from time to time.
| 10. | [Item 10 repealed by rule 7(e) of Board Notice 166 of 2016 dated 21 October 2016] |