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What is the purpose of the RICS?

RICS – The Royal Institution of Chartered Surveyors (RICS) represents the property profession in 146 countries, and regulates its ‘Chartered’ members. All valuations are subject to the RICS International Valuation Standards otherwise known as the ‘Red Book’. 

What is market value rent?

Market Rent is defined by the RICS as "the estimated amount for which an interest in a real property should be leased on the valuation date between a willing lessor and willing lessee on appropriate terms in an arm's length transaction, after proper marketing and whe...

Why is asset valuation important?

A valuation of a property for asset valuation purposes may be needed for any of the following reasons:- for the purposes of updating the value of buildings which are held as assets of a company- to determine the value of assets held by a family trust- to determine th...