East meets west in the heart of the Silk Road

East Meets West CUSAP

East meets west in the heart of the Silk Road Using CUSPAP to build a war-torn Afghanistan economy 
By Jeremy Brooks Two weeks after U.S.-led forces captured the Iraq capital of Baghdad in 2003, Philip Smith was dispatched to the city of Basra by the Government of Britain. A veteran of the financial services and real estate industries, he had...

Appraiser’s Requirement of ‘Good Faith’

Introduction This is the second part of a consideration of the phrase ‘good faith’1 in the Appraisal Institute of Canada (AIC) Code of Conduct (Code): Members of the AIC pledge to conduct themselves in a manner that is not detrimental to the public, the AIC or its members, or the real property appraisal profession. Members’ relationships with other members, the AIC...

Best practices – examples from the field

A collaboration by the volunteer members of the Appeal Sub-Committee: Allan Beatty, AACI, P.APp, Fellow; Peter Lawrek, AACi, P.App; 
Robert Robson, AACI, P.APp, Fellow; Gordon Tomiuk, AACI, P.APp, Fellow; David Babineau, AACI, P.APp, Fellow; and John Shevchuk, AACI (Hon) This article represents a collaboration of the Appeal Sub-Committee and is the first of a series that will appear in the 2016...

CRA Diversification

CRA Diversification

Here is an example of how a CRA has successfully diversified his practice. Assessment Appeals How did you get started doing assessment appeals? I was contacted by an individual, who had been referred to me by a local law firm. This individual was quite wary of dealing with the Municipal Property Assessment Corporation (MPAC). They asked for my help in providing them...

Understanding Reserve Fund Studies

Understanding reserve funds studies

Introduction Condominium and strata ownership continues to be a viable housing alternative for many Canadians. To protect the interests of the individual unit owners and the condominium corporations, the majority of Canadian provinces have enacted legislation requiring that condominium corporations partake in a reserve fund study (called a depreciation report in British Columbia). Condominium corporations are referred to as strata...

Closing the Technology Gap

Closing the technological gap

Commercial real estate (CRE) has traditionally lagged other industries in technology investment, but this is all set to change Developers and owners spend billions every year on future proofing their CRE assets by using the best materials, improving their sustainability or through cutting edge smart building devices designed to appeal to demanding occupiers. For an industry that can deliver stunning developments...

The Use of Graphs in the Appraisal Process

The use of graphs in appraisals

Introduction Real estate practitioners are using more visual aids than ever before to describe data in their appraisal and consulting reports. Graphical knowledge is key in terms of using them properly. There are many statistical programs in the marketplace that can produce a wide variety of graphs, including sophisticated data analysis – SPSS, Mini Tab and ‘R,’ to name a few....

History of the Standards

History of the standards

Professional associations maintain professional standards for their members; it is a hallmark of a professional organization. These standards reflect a combination of excerpts adopted from the standards of other similar organizations, sections developed to reflect court decisions, statutes and common law, and common sense. For many years, the Appraisal Institute of Canada (AIC) requirements for professional practice and ethical...

CRA Diversification

CRA Diversification

CRA DIVERSIFICATION Here are some examples of how CRAs have successfully diversified their practice. Kari Benum, CRA Reserve fund studies Kari Benum, CRA was fortunate to work for a large appraisal firm exploring a new line of business in reserve fund studies, also known as depreciation reports in British Columbia where they were legislated in 2011. “Along with an AACI in the company, who...

When Chattels Become Part of the Real Property

Canadian Property Valuation magazine

In the sale of real property and in landlord and tenant arrangements, it is quite common for questions to arise over the ownership of buildings, structures and other items that are on the land at the time of sale or at the end of a tenancy. The question revolves around whether a particular thing is a chattel or has...