18 Apr 19 by Rebecca Cook
Another month has flown by. In the last couple of weeks, I have spent time in the valuation and business rates consultancy departments, preparing valuation reports and submitting checks and challenge statements to the Valuation Office Agency.
My valuation experience to date has been varied in terms of purpose and property type, and I am now involved in instructions from start to finish, from initial quotation to issuing the final report under supervision. Having already undertaken a number of valuations using the comparable and investment methods, I undertook my first trading, profit methods valuation this week and now have experience using 4 of the 5 methods of valuation, and anticipate using the DRC method for a forthcoming valuation. This month alone I have inspected a wide range of property types, from industrial, retail, office and residential property, to include a house in multiple occupation, and a mix of owner/occupied and investment. I also inspected a leasehold flat as part of a Leasehold Reform valuation.
In terms of my business rates workload I submitted my first challenge statement to the VOA last week, following the result of a check on a floor area discrepancy. I am awaiting a check decision notice on a garden centre, which I hope will result in a significant saving for the client. I have also been involved in business rates mitigation and recently secured a period of empty rate relief for a client with a vacant office unit.
Since my employment the company has provided me with a wealth of experience and my senior colleagues have been encouraging and supportive throughout the APC process. I have my first APC mock interview next month, which I anticipate will be a testing experience, but essential to my progression towards the APC in Spring. I am in the process of finalising my summary of experience and case study for submission and have also completed the RICS Ethics Walkthrough in readiness.
It has been another varied, busy, but enjoyable month and I look forward to demonstrating my knowledge to date in my first mock interview.
