Bachelor of Commerce Honours in Property Valuation and Management

Purpose

The purpose of this qualification is to prepare learners for entry into both a Property Valuation and Management career or into Postgraduate studies.

Learners will be able to

• Apply integrated knowledge and advanced conceptual thinking skills to innovatively solve complex property valuation and management problems.
• Competently use a range of valuation methods, processes and techniques to create, present and argue fully motivated valuation reports.
• Demonstrate knowledge of valuation theory.
• Conduct thorough research into valuation problems.

The qualification is structured around Advanced Property Valuation and Property Law. Advanced Property Valuation contains the relevant valuation theory, and is structured to enable learners to apply integrated knowledge to solve complex property valuation problems and to use the whole range of valuation methods, principles and techniques to conduct professional property valuations. The Property Law modules will enable learners to develop an understanding of the South African common and case law applicable to property and property valuation and ultimately demonstrate an ability to interpret and apply common and case law when conducting property valuations.

In addition learners will be equipped with the knowledge and skills required to act in a professional and ethical manner in a property finance and investment and property management working environment, thereby contributing to the learners' ability to enter into a career in property valuation and management. Learners will also be equipped with the knowledge and skills to conduct academic property-related research.

Rationale

The qualification is a response to the needs of industry, national requirements, learner needs, envisaged learner intake, and differentiation. Each of these challenges and opportunities is discussed below.

The needs of industry

The South African Council for the Property Valuation Profession indicated that it is in the process of aligning the valuer's profession with the other professions in the Council for the Built Environment. The South African Council for the Property Valuers Profession (SACPVP) has indicated that it will in future require a four year degree for registration as a Professional Valuer.

The University's Department of Finance and Investment Management realised that specialisation in a Bachelor's Degree with articulation to an applicable Honours Degree would be the optimum solution.

A Qualification Review of the National Diploma: Real Estate offered by the University was also done by the Council for the Property Valuation Profession (Report 25 April 2007). In the report, the panel supported the specialisation of a Bachelor's Degree with articulation to an applicable Honours Degree.

National requirements

The draft National Plan for Higher Education from 2001 has reiterated that the challenges facing Higher Education in South Africa remain the same as those outlined in the Education White Paper 3-A Qualification for the Transformation of the Higher Education System (Department of Education: July 1997) and these include the need for:

• High-level skills training: the training and provision of person power to strengthen this country's enterprises, services and infrastructure. This requires the development of professionals and knowledge workers with globally equivalent skills, who are socially responsible and conscious of their role in contributing to the national development effort and social transformation.
• Production, acquisition and application of new knowledge: national growth and competitiveness is dependent on continuous technological improvement and innovation, driven by a well-organised, vibrant research and development system which integrates the research and training capacity of higher education with the needs of industry and of social reconstruction (White Paper: 1.12).

The Bachelor of Commerce Honours: Property Valuation and Management will contribute to realising these national imperatives. The contribution of property valuation to the social, economic and cultural life of a rapidly changing society is indisputable. The importance of property valuation and management as a contributor to the economy is generally acknowledged both locally and internationally. To obtain international recognition the qualification needs to be accredited by the Royal Institute of Chartered Surveyors (RICS). The minimum requirement for Royal Institute of Chartered Surveyors accreditation is an applicable Honours Degree qualification. The Honours Degree complies with the Royal Institute of Chartered Surveyors' requirements.

Student needs

A survey of three South African and several international institutions confirmed that the trend at institution is to offer Bachelor's and Honours Degrees in property valuation and related disciplines. The University of Pretoria offers a Master's Degree in Property Valuation and the University of Witwatersrand offers a four-year Degree in Property Studies. Conversations with colleagues at the University of Pretoria and the University of Witwatersrand confirmed that the annual demand for admission into their qualifications exceeds the number of learners that they can accommodate.

In addition, the institution of a postgraduate qualification will enhance the Department's ability to deliver research output in this particular field.

Recognition of Prior Learning

Recognition of Prior Learning (RPL) is an integral part of education and academic practice. It is acknowledged that all learning has value and the Faculty accepts the challenge of assessing prior learning and awarding credits in a way that is aligned to Faculty qualifications to promote lifelong learning.

The purpose of the University of Johannesburg's Recognition of Prior Learning policy which directs the Faculty's Recognition of Prior Learning procedure is to recognise prior learning in order to provide for access into qualifications, grant advanced placement in qualifications and grant credits for modules.

Entry Requirements

The minimum entry requirement for this qualification are

• Advance Diploma in Property Valuation and Management, NQF Level 7.
• Bachelor of Commerce in Property Valuation and Management, NQF Level 7.

The qualification consists of the following eight compulsory modules at NQF Level 8, totalling 120 Credits

1. Research Methodology, 15 Credits.
2. Advanced Property Valuation and Management A, 15 Credits.
3. Advanced Property Valuation and Management B, 15 Credits.
4. Advanced Property Finance and Investment, 15 Credits.
5. Applied Property Law A, 15 Credits.
6. Applied Property Law B, 15 Credits.
7. Property Portfolio Management, 15 Credits.
8. Case study, 15 Credits.

The Exit Level Outcomes will be assessed in terms of the Outcomes of each Module using the related Assessment Criteria associated with each Outcome.

Module 01

1. Design and conduct a small quantitative research project in property.

Module 02

1. Value different kinds of property with appropriate valuation methodology.

Module 03

1. Do a valuation of a leasehold interest.
2. Do a valuation of retirement villages.
3. Value mining rights.
4. Do a feasibility study for residential, commercial and industrial properties and viability studies for township, sectional title, retirement village, office, shopping centre and industrial developments.
5. Make a whole life appraisal of a property.
6. Apply Geographic Information Systems (GIS) on property valuation.
7. Explain how to use Computer Aided Valuation Systems (CAVS).
8. Explain the process of setting up a professional valuation practice.

Module 04

1. Make an informed property investment decision.
2. Develop a cash flow model for use in property investment.
3. Measure the performance of investment in property.
4. Make risk adjustments in property finance and investments.
5. Select property financing instrument that will optimise return on investment.
6. Draw up an efficient property portfolio plan and manage it.

Module 05

1. Interpret immovable property and the interest in immovable property.
2. Specify the capacity to acquire rights over land in South Africa.
3. Analyse and comprehend the forms of land tenure in South Africa.
4. Evaluate joint ownership as a form of land tenure.
5. Apply the concepts of possession and occupation of immovable property.
6. Discuss and apply the nature and content of servitudes.
7. Analyse the relationship between mineral rights and land.
8. Analyse security in respect of movable and immovable property.

Module 06

1. Explain the registration of rights in terms of the deeds Registries Act 47 of 1937.
2. Analyse the legal aspects of property development schemes.
3. Determine statutory control over the use of fixed property.
4. Analyse the expropriation of immovable property.
5. Apply the general principles of contracts.
6. Identify and explain various types of commercial associations.
7. Identify the appropriate forum for dispute solving.
8. Collect, analyse and evaluate information to ensure statutory compliance.
9. Communicate effectively in defending a valuation report in court or any other forum.
10. Apply common law and statutory provisions for compliance with Constitutional provisions-national, provincial and local legislation-relating to property valuation.

Module 07

1. Consider diversification in a property portfolio.
2. Develop a property portfolio strategy.
3. Describe the property portfolio management process.
4. Describe the importance of leases as a key to performance and value.
5. Discuss the elements of investing in international real estate.
6. Oversee a property management office and generate different reports.
7. Manage different types of properties.
8. Identify, measure and control risk and health and safety issues in property.

Module 08

1. Apply knowledge and skills to a real life case study in order to produce a comprehensive management report on a portfolio of properties.

Associated Assessment Criteria for Exit Level Outcome 1

• Explain the purpose of research inquiry in finance using current research ethics.
• Conceptualise, investigate and analyse property issues and problems using appropriate research approaches.
• Classify the research resources available within the institution and use various paper and computerised reference search and retrieval media.
• Use the APA writing style and Harvard method of referencing.
• Understand and incorporate general research ethics within work.
• Choose the correct sequence of steps necessary to conduct an independent research project given a current topic in property (i.e. valuation, finance, management and investment).
• Outline the introduction, problem statement, assumptions and limitations, review of related literature, testable hypothesis/hypotheses and reference sections for an independent research project on a selected topic (in property).
• Construct the sample/subjects sub-section of a written research proposal/plan to include a comprehensive description of the population, sample size, appropriate selection technique and precautions to guard against sampling bias.
• Write up research.
• Formulate and defend the written research proposal/plan to include a description, purpose, content, rationale, objectivity, validity, reliability, administration, scoring, interpretation of each instrument to be used.

Module 02

Associated Assessment Criteria for Exit Level Outcome 2

• Determine the value of property that is expropriated or under servitude.
• Identify and determine the effect of rezoning on the value of a property.
• Determine the value of different types of farms.
• Value usually non-negotiable properties.
• Value different kinds of shopping centres.
• Do a valuation of air space.
• Determine the value of an interest in time share.
• Value an applicable property with the comparable sales method.
• Value an applicable property with the income method.
• Value an applicable property with the cost method.
• Value an applicable property with the accounts method.
• Value an applicable property with the discounted cash flow method.
• Value an applicable property with the residual method.
• Apply the expropriation law on expropriated land.
• Apply the principles of remuneration on expropriated land and or land under servitude to determine the amount of compensation for an owner.
• Determine the market value of expropriated and land under servitude.
• Identify the factors to consider for possible rezoning.
• Calculate the monetary influence of these factors on the value of the property.
• Advise potential investors on the feasibility of rezoning.
• Apply the different valuation methods applicable to different farming operations.
• Discuss the procedures to follow in farm valuation and identify the sources of information available to the farm valuer.
• Apply and discuss the effect of regulations and laws on farm valuation.
• Apply the Faustmann formula on plantation valuation.
• Recognise the circumstances when non-negotiable properties come about.
• Identify the kind of interest that come about because of non-negotiable properties.
• Value the rights of non-negotiable properties.
• Make use of the most appropriate valuation technique for non-negotiable properties.
• Distinguish different kinds of shopping centres.
• Discuss different tenant mixes of shopping centres.
• Identify the attributes of a good shopping centre.
• Apply the factors influencing the value of different shopping centres.
• Incorporate the property investment market in the analysis of shopping centre potential.
• Determine the most appropriate method to place a value on a shopping centre.
• Conduct income based valuation of an existing shopping centre.
• Explain the concept air space.
• Identify the principle limitations of development.
• Explain horizontal subdivision.
• Explain how air rights are created.
• Approach the valuation of air rights logically.
• Value air space.
• Define the business activity of timeshare.
• Explain the legal requirements for the development of a time share scheme.
• Make an informed valuation of a time sharing scheme.

Module 03

Associated Assessment Criteria for Exit Level Outcome 3

• Explain how a leasehold interest can arise.
• Explain the methods with which a leasehold can be valued.
• Value a leasehold interest.

Associated Assessment Criteria for Exit Level Outcome 4

• Explain the form nature and purpose of retirement villages.
• Interpret the legislation controlling retirement villages.
• List the forms of tenure and occupancy for retirement villages and the advantages and disadvantages of each.
• Do a valuation of a retirement village.

Associated Assessment Criteria for Exit Level Outcome 5

• Explain the legislation which controls the ownership of mining title, the granting of mining leases and the common law relating to minerals.
• Explain the nature of minerals and the factors which make minerals valuable.
• List the cost factors in a mining operation.
• Discuss the forms of development that may take place on mining land.
• Explain the valuation of surface rights.
• Apply the most appropriate method to value a mining right.
• Value a mining right.

Associated Assessment Criteria for Exit Level Outcome 6

• Differentiate between a valuation and a feasibility study.
• Apply the principles of feasibility study.
• Do a feasibility study on residential, commercial, industrial properties and viability study on township, sectional title, retirement villages, office, shopping centre and industrial developments.

Associated Assessment Criteria for Exit Level Outcome 7

• Define the concepts of whole life appraisal.
• Do a whole life analysis of a property.
• Advise on the best use of a property over its life.

Associated Assessment Criteria for Exit Level Outcome 8

• Define the uses of Geographic Information Systems in property valuation.
• Apply Geographic Information System in identifying properties.
• Determine potential by making use of Geographic Information Systems.
• Apply Geographic Information Systems to assist to determine the value of a property.

Associated Assessment Criteria for Exit Level Outcome 9

• Identify the different computer aided valuation systems.
• Apply and critically use the different Computer Aided Valuation Systems to value properties.
• Comment on the advantages and disadvantages of Computer Aided Valuation Systems.

Associated Assessment Criteria for Exit Level Outcome 10

• Identify the documentation needed to set up a valuation practice.
• Apply the legal requirements to set up a valuation practice.
• Manage a valuation practice.

Module 04

Associated Assessment Criteria for Exit Level Outcome 11

• Evaluate factors affecting the decision to invest in property or not.
• Price an investment in property correctly.
• Negotiate optimally the conditions for investment in property.
• Recommend how the investment should be financed to optimise return.
• Calculate for how long the investment should be kept.

Associated Assessment Criteria for Exit Level Outcome 12

• Optimise lease agreements.
• Rank alternative investments.
• Construct a business statement from legal and financial records.
• Do a five year floor space needs analysis for a property business.
• Explain commercial lease contracts and the financial implications to a prospective investor.
• Incorporate leases (income) lease conditions, expenses, and property performance in forecasts.
• Explain forms of property finance and suggest instruments for direct investment in property.
• Analyse the environment and do projections in terms of risk and expected return.
• Build external factors like taxation and ownership security into an investment plan.
• Explain the different approaches of property investment analysts and financial managers to capital budgeting.
• Explain how the value of an investment property can be estimated in advance.
• Explain how the cash flow of property investment is constructed.
• Construct a discounted cash flow analysis for a direct investment in property and do a sensitivity analysis.

Associated Assessment Criteria for Exit Level Outcome 13

• Analyse the financial implications of alternative ways of financing and refinancing property investments.
• Explain implications of alternative performance measurement techniques for a direct investment in property.
• Evaluate projected investment performance of the subject property with applicable industry norms.

Associated Assessment Criteria for Exit Level Outcome 14

• Calculate applicable ratios to measure risk and do a sensitivity analysis.
• Distinguish between ratios that indicate leverage, performance and risk.
• Explain and apply the risk adjustment techniques and indicate how and why each technique could be useful to the investment analyst.
• Explain the different financing instruments available for property finance.
• Apply standard property financing product that are common to most financial institutions to property financing.
• Apply structured debt to optimise the yield on property investment.

Associated Assessment Criteria for Exit Level Outcome 15

• Apply structured funding to support a bank loan portfolio.
• Explain the concept efficient property portfolio.
• Determine the cost of capital for an investor.
• Determine the optimum capital budget for a property portfolio by using the investment opportunity schedule and the marginal cost of capital.

Associated Assessment Criteria for Exit Level Outcome 16

• Compile an efficient property portfolio.
• Manage a property portfolio.

Module 05

Associated Assessment Criteria for Exit Level Outcome 17

• Explain the principles that impact on immovable property.
• Draw a distinction between movable and immovable property.
• Explain and apply the factors to be considered in determining whether movable property attached to immovable property has become part of the immovable property.
• Explain the legal implications if movable attachments are permanently attached to immovable property.
• Discuss real rights and how they differ from personal rights.

Associated Assessment Criteria for Exit Level Outcome 18

• Describe how State land is transferred to a private individual.
• Satisfactorily discuss how the National Environmental Management Act, 1998 (Act NO. 107 of 1998) and the National Environmental Management: Protected Areas Act 2003, Act 57 of 2003 limit the acquisition of ownership of the ocean, the seashore and a national park.
• Explain and apply the requirements of the Aliens Control Act 96 of 1991 that apply to aliens who wish to acquire rights over land.
• Discuss the requirements to be met before persons entitled to diplomatic privileges can require rights over land.

Associated Assessment Criteria for Exit Level Outcome 19

• Interpret ownership of immovable property.
• Explain who the owner of immovable property is and how ownership can be acquired.
• Discuss how ownership is protected.
• Explain how restrictions on ownership can be removed.
• Explain and apply the difference between leasehold and quitrent tenure of immovable property.

Associated Assessment Criteria for Exit Level Outcome 20

• Describe and explain the nature of joint ownership and the way in which persons may become joint owners of immovable property.
• Discuss the common-law rights and duties of joint owners.
• Explain how joint ownership can be terminated.

Associated Assessment Criteria for Exit Level Outcome 21

• Discuss the most important provisions of the Land Titles Adjustment Act 68 of 1979.
• Discuss and explain the possession and occupation of immovable property.
• Discuss the distinction between possession and occupation, and why this distinction is important.
• Explain how possession and occupation are legally protected.
• Discuss how legislation restricts the illegal occupation of land.

Associated Assessment Criteria for Exit Level Outcome 22

• Describe what a servitude is and draw a distinction between a real and personal servitude.
• Explain the general features of a real servitude.
• Describe and explain the features of a personal servitude.
• Explain usufruct, use and habitation.
• Discuss how a servitude is created.
• Discuss how a servitude is terminated.
• Interpret the restrictive conditions of title.

Associated Assessment Criteria for Exit Level Outcome 23

• Define and explain the term mineral.
• Describe how mineral rights can be acquired.
• Discuss and explain the relationship between the holder of mineral rights and the landowner.
• Identify and apply the legislation that govern the right to prospect for, mine and dispose of minerals.

Associated Assessment Criteria for Exit Level Outcome 24

• Explain the nature and content of a mortgage on immovable property.
• Describe and explain the nature and content of a pledge.
• Describe the nature and content of notarial bonds.
• Explain the nature and content of tacit hypothecs.
• Draw a distinction between real and personal security.

Module 06

Associated Assessment Criteria for Exit Level Outcome 25

• Identify and apply the fundamental principles of the Deeds Registries Act 47 of 1937.
• Explain title deeds and how to prepare them.
• Describe the documents which must be submitted to the Registrar to pass a transfer of immovable property.
• Calculate the costs to be taken into account when registering rights over immovable property.

Associated Assessment Criteria for Exit Level Outcome 26

• Explain the principles of the Land Survey Act 8 of 1997.
• Explain the basic concepts of a sectional title unit, share block, time-sharing and housing interests in retirement schemes.
• Identify and interpret the prescriptions to be met for the development of a sectional title unit, share block, time-sharing and housing interests in retirement schemes.
• Explain the requirements for the sale of a sectional title unit, share block, time-sharing and housing interests in retirement schemes.
• Discuss how a sectional title unit, share block, time-sharing and housing interests in retirement schemes are managed.

Associated Assessment Criteria for Exit Level Outcome 27

• Identify, interpret and apply the statutory control measures governing land affairs.
• Identify, interpret and apply the statutory control measures governing environmental conservation.
• Identify, interpret and apply the statutory control measures governing fencing.
• Identify, interpret and apply the statutory control measures governing the erection of buildings.
• Identify, interpret and apply the statutory control measures governing the subdivision of land.

Associated Assessment Criteria for Exit Level Outcome 28

• Explain how immovable property is expropriated in terms of the Expropriation Act.
• Describe and explain how compensation for expropriated property is determined.
• Explain what a person can do if he is not satisfied with the compensation offered for expropriation.

Associated Assessment Criteria for Exit Level Outcome 29

• Explain and apply the requirements for a valid offer on the one hand, and a valid acceptance of an offer on the other.
• Identify and describe persons with capacity to contract and who the parties to a contract may be.
• Describe and explain the nature of suspensive and resolute conditions, options and rights of pre-emption.
• Discuss the termination of contracts.
• Explain the conclusion of contracts in terms of legislation.
• Describe and explain the common-law duties of a buyer and seller of immovable property.

Associated Assessment Criteria for Exit Level Outcome 30

• Identify and describe the different types of commercial associations.

Associated Assessment Criteria for Exit Level Outcome 31

• Explain voluntary and compulsory sequestration and the consequences of insolvency.
• Describe the sequestration procedure.
• Describe and explain the meaning of compensation and the circumstances in which an insolvent person can be rehabilitated.
• Interpret the grounds for the liquidation of a company and closed corporation, the liquidation procedure and the consequences of liquidation.

Associated Assessment Criteria for Exit Level Outcome 32

• Discuss the difference between public, private and formal law.
• Distinguish and apply the differences between statute law and common law.
• Describe the function of an arbitrator.

Associated Assessment Criteria for Exit Level Outcome 33

• Explain the basic principles of law impacting on property valuation.
• Explain and apply the standards of performance required of a valuer.
• Identify the documents which need to be examined by a valuer.
• Discuss the actions of a valuer which might constitute improper conduct.
• Identify the legislation relevant to valuers.
• Explain how to make a reliable market value estimate in terms of decided court cases.

Associated Assessment Criteria for Exit Level Outcome 34

• Apply the provisions of section 12 of the Expropriation Act 63 of 1975.
• Explain the provisions of the Transfer Duty Act 40 of 1949 as it relates to property values.
• Explain the provisions of the Stamp Duties Act 77 of 1968 as it relates to property values.
• Identify and apply the latest case law, Acts and Regulations.
• Identify the most appropriate statutory provision to be applied in valuation.
• Discuss the most important judgments dealing with the differences between movable and immovable property.
• Apply the basic principles to be used in the valuation of expropriated land as determined by the Appeal Court.

Module 07

Associated Assessment Criteria for Exit Level Outcome 35

• Identify and explain the elements of portfolio diversification.
• Apply typical diversification strategies.
• Discuss the dimensions of economic/geographic diversification.
• Explain diversification of leases in terms of term, quality and tenancy.

Associated Assessment Criteria for Exit Level Outcome 36

• Describe different investment vehicles.
• Explain the critical issues in strategy development.
• Discuss the basic portfolio strategies.
• Monitor a portfolio strategy.
• Identify and interpret visibility and potential liability.
• Explain the importance of exit strategies.

Associated Assessment Criteria for Exit Level Outcome 37

• Discuss investor objectives and constraints.
• Identify market conditions and expectations.
• Specify a target portfolio.
• Monitor and rebalance a portfolio.
• Design and introduce portfolio performance measurement.
• Explain the role of the portfolio manager.

Associated Assessment Criteria for Exit Level Outcome 38

• Explain the difference between a gross lease, a net lease and a percentage lease.
• Discuss valuing lease and residuals.
• Explain and apply the debt-equity model.
• Describe the roles the manager and the attorney play in the negotiation of leases.
• Interpret the information gained from a credit report and explain the rational for validating a prospect's financial references.
• Discuss the value of establishing clear guidelines with tenants at the time the lease is signed.
• Identify and implement methods that may be taken to encourage prompt and complete rental payments.
• Discuss and apply methods of presenting rental increases and explain the steps which must be taken to avoid tenant revolt.
• Explain the decision process and its requirements.

Associated Assessment Criteria for Exit Level Outcome 39

• Analyse the risk in different countries: weighting economic and political/organisational systems.
• Discuss the fundamentals behind local market cycles and questions about where the world is going.
• Draw a flowchart for a typical management organisation.
• Explain the difference between direct and indirect costs and give examples of each.
• Explain the importance of the cash flow report and describe how that information contributes to the profit and loss statement and the operating budget.
• Summarise methods of determining profitability: break-even analysis, capitalization rate and return on investment.

Associated Assessment Criteria for Exit Level Outcome 40

• Identify different types of residential properties.
• Provide reasons why a manager should prepare a residential market analysis and summarise the information required for such analysis.
• Discuss the disadvantage of charging a percentage fee when managing sectional title communities and explain why charging a cost-per-unit, flat rate, or the use of a management pricing worksheet is better.
• Explain how important regional and neighbourhood analysis is to the property manager drawing up a management plan for an office building.
• Explain the difference between usable and rentable space.
• Discuss the importance of properly qualifying the tenant regarding space needs.

Associated Assessment Criteria for Exit Level Outcome 41

• Identify and define the different types of retail properties.
• Explain and provide examples of proper tenant mix, inappropriate tenant mix and how to deal with parking.
• Summarise negotiating points regarding percentage leases and calculate three different types of payments.
• Identify and explain the key factors that distinguish industrial properties from any other type of property: plant size and features, land-use patterns and industrial development incentives.
• Describe the industrial tenant's qualifications, and unique issues encountered in showing property and negotiating a lease.
• Identify the different methods (avoid, control, retain or transfer) of risk management and implications of each.

Associated Assessment Criteria for Exit Level Outcome 42

• Determine which types of insurance policies the owner should carry and discuss the need for and coverage of each.
• Plan employee information and training for dealing with hazardous substances.
• Describe at least five environmental hazards and describe ways that the property manager can minimize their effects.
• Design a program to manage life safety utilising staff, equipment and procedures to reach four important goals: preventing an emergency, detecting a breach, containing the damage and counteracting the damage.
• Discuss the importance of preventing criminal activity on property.
• Identify key tasks to be accomplished in the event of an emergency and assign to key individuals.

Module 08

Associated Assessment Criteria for Exit Level Outcome 43

• Conduct a valuation and compile a fully motivated report.
• Manage a property portfolio.
• Interpret the legal and statutory provisions impacting on a specific property.
• Manage financing and investments in property and property developments.

Integrated Assessment

Methods of assessment will be aligned to the institution's academic regulations. The outcomes for each module will be assessed as follows:

• Formative assessment opportunities: Consist of two formal written assessment opportunities during the semester, with the possibility of additional assessment opportunities in the form of assignments and class assessments.
• Summative assessment opportunity: Consists of a last assessment opportunity.

Assessments will be three-hour written examination papers.

The assessment papers will have a combination of objective test questions, and/or short questions and/or case study questions.