The paper aims to consider Red Book matters that have not previously been examined.
This paper examines the provisions in the RICS Appraisal and Valuation Standards (the Red Book) for property professionals involved in the use of the definition of “Existing use value for social housing”, and the “Tenanted market value” basis set out in guidelines for Scottish local authorities.
Using the experience in Scotland the paper considers some of the problems that can develop in practice and examines some of these problems.
The paper is intended to influence members of the profession in dealing with these problems and to contribute to the debate generally in terms of ensuring that these matters are considered by the RICS in reviewing its procedures.
The paper is specifically relevant to valuers required to use the Red Book provisions for valuing social housing and for those involved in existing use valuations.
