NZQA registered unit standard
27774 version 1
Page 1 of 3
Title
Demonstrate knowledge of rental appraisal and complete rental
appraisals for prospective residential rental properties
Level
4
Purpose
Credits
3
This unit standard is for people working in the residential sector
of the real estate industry.
People credited with this unit standard are able to:
–
estimate the likely costs and revenues associated with
property; and
–
prepare rental appraisal reports for prospective residential
rental properties.
Classification
Real Estate > Residential and Commercial Property
Management
Available grade
Achieved
Explanatory notes
1
References
Consumer Guarantees Act 1993;
Fair Trading Act 1986;
Financial Transactions Reporting Act 1996;
Goods and Services Tax Act 1985;
Privacy Act 1993;
Real Estate Agents Act 2008;
Resource Management Act 1991;
Resource Management (Simplifying and Streamlining) Amendment Act 2009;
Residential Tenancies Act 1986;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
2
Definitions
Rental appraisal is estimating the market rental of a property.
Established industry methodology includes but is not limited to – Comparative Market
Appraisal, Comparative Market Analysis, Current Market Analysis.
Industry requirements mean all actions must comply with relevant professional body
standards, legislation, codes of professional conduct and client care, and approved
guides. Legislation is available from http://www.legislation.govt.nz and codes of
professional conduct and client care, and approved guides are available from
http://www.reaa.govt.nz.
Local Authority bylaws mean a rule or regulation made by a Local Authority
authorised to do so under the Local Government Act 2002. Some other Acts also
empower Local Authorities to make bylaws on specific tops.
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
3
27774 version 1
Page 2 of 3
Assessment
a
This unit standard must be assessed against on the basis of evidence of
demonstrated performance in the workplace or in simulated work situations
designed to draw upon similar performance to that required in the workplace.
b
Evidence is required for a minimum of two different residential property types,
which may include but are not limited to – apartments, house conversions, flats,
houses, townhouses.
Outcomes and evidence requirements
Outcome 1
Estimate the likely rental costs and revenues associated with properties.
Evidence requirements
1.1
Property is checked for compliance in terms of legislation for rental purposes.
1.2
Maintenance requirements are assessed in terms of estimated monetary
impact.
1.3
Rental value is assessed in terms of industry requirements.
Outcome 2
Prepare rental appraisal reports for prospective residential rental properties.
Evidence requirements
2.1
Rental appraisal reports are prepared in keeping with established industry
methodology and current market conditions.
2.2
Rental appraisal reports are prepared to provide comprehensive information to
a prospective purchaser.
Range
2.3
includes but is not limited to – title type, market rents, compliance
with fire regulations, any council regulations, any other compliance
requirements.
Written rental appraisal reports are checked prior to submission.
Range
Planned review date
methods of checking may include – peer review with branch
manager or licensee, use of computerised programme.
31 December 2015
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
27774 version 1
Page 3 of 3
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
19 July 2012
N/A
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact ElectroTechnology Industry Training Organisation
reviewcomments@etito.co.nz if you wish to suggest changes to the content of this unit
standard.
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016