Waarderingsstandaardenen de taxatiepraktijk van de rentmeester NVR

Albert van Gellicumpresentatie (op persoonlijke titel) voor NVR Kring Oost d.d. 3 juni 2009

Inhoud

1. Introductie2. Kendes Rentmeesters & Adviseurs BV3. Waarderingsstandaarden

Introductieing. Albert van Gellicum MRE RT MRICS

1999 Hogeschool Larenstein Velp2002 PBNA Grondverwerving & schadeloosstelling2002 Beëdiging rentmeester NVR2005 Registertaxateur landelijk vastgoed (RT)2008 Master of Real Estate (MRE), Amsterdam School of Real Estate2009 Professional Member (MRICS), Royal Institution of Chartered

Surveyors

Specialisatie: vestigings- en prijsvaststellingsprocedures Wvg, administratieve onteigeningsprocedures, taxaties en vastgoedrekenen

Master of Real Estate (MRE)

• Amsterdam School of Real Estate (UvA) • integrale managementopleiding (1.890 sbu)• opleidingsprogramma MRE:

– financieren & beleggen– recht & fiscaliteit– markten & producten– strategie & management

• zie www.asre.nl

Royal Institution of Chartered Surveyors (RICS)

• sinds 1868• 89.000 (ca. 250 in NL) professionele leden in 146 landen • > 57.000 (ca. 500 in NL) kandidaats- en studentleden • 500 researchpapers en beleidsdocumenten betreffende de

sector per jaar • 50 national associations • 160 verschillende specialisaties bijeengebracht in 16

‘faculteiten’, waaronder ‘rural surveying’

Royal Institution of Chartered Surveyors (RICS)

• regulering en promotie van de professie (o.a. RICS red book)• handhaving van de hoogste normen op het gebied van

opleiding en beroepsuitoefening • bescherming van klanten en consumenten door een strikte

gedragscode (code of conduct / rules of conduct)• levering van onpartijdige adviezen, analyses en richtsnoeren

Royal Institution of Chartered Surveyors (RICS)

• diverse routes naar lidmaatschap• o.a. senior professional route

– hbo+ en 10 jaar ervaring / wo en 5 jaar ervaring– c.v. (ervaring en vaardigheden) – 60 uur professionele ontwikkeling in laatste 3 jaar – 3 casestudies – final assessment

• zie www.joinricseurope.eu/nl en www.rics.org

Kendes Rentmeesters & Adviseurs BV

• sinds 2002• 9 rentmeesters / registertaxateurs (+ div. free lance)• nadruk op overheidspraktijk• core-business:

– grondverwerving t.b.v. ruimtelijke ontwikkeling– taxaties o.z. en schadeloosstellingen – toepassing grondbeleidsinstrumenten (Wvg, Ow en Grex)– planschade (-risicomanagement)

• onderscheidend door:– omvang– specialisatie– géén dubbele petten

Waarderingsstandaarden

1. Inleiding2. NL’se praktijk3. International Valuation Standards4. RICS Red book5. Toekomst6. Discussie

Inleiding (1 / 7)

Waarderingsstandaard:Een waarderingsstandaard is een gestructureerde, algemeen geaccepteerde en breed toepasbare set spelregels of normen voor het waarderen van vastgoed.

Doel:Houvast, transparantie en harmonisering

Inleiding (2 / 7)

Waarderingsstandaard ≠ waarderingsmethode

zie daarvoor:

Geraci (2001), The Appraisal of Real Estate, Appraisal Institute

Johnson e.a. (2001), Modern Methods of Valuation, Estates Gazette

Ten Have (2007), Taxatieleer onroerende zaken 1 en 2, Noordhoff Uitgevers

Inleiding (3 / 7)

Internationale waarderingsstandaarden:

1. International Valuation Standards Council (IVSC)‘the white book’, zie www.ivsc.org

2. Royal Institution of Chartered Surveyors (RICS)‘the red book’, zie www.rics.org

3. The European Group of Valuers' Associations (TEGoVA)‘the blue book’, zie www.tegova.org

Inleiding (4 / 7)

International Financial Reporting Standards

• o.a. gevolg van internationalisering en globalisering van bedrijfsleven, boekhoudschandalen (m.n. ENRON)

• sinds 01/01/2005 in EU verplicht voor beursgenoteerde ondernemingen en financiële instellingen

• ook doorwerking in nationale verslagleggingsregels

Inleiding (5 / 7)International Financial Reporting Standards

Vastgoedgerelateerde IFRS-verslagleggingsregels• IAS 2 Objecten gehouden voor verkoop• IAS 16 Objecten, installaties en uitrusting• IAS 17 Huurovereenkomsten• IAS 36 Bijzondere waardevermindering van activa• IAS 40 Vastgoedbeleggingen• IAS 41 Landbouw• IFRS 3 Bedrijfscombinaties en• IFRS 5 Vaste activa aangehouden voor verkoop en beëindigde

bedrijfsactiviteiten Zie www.iasb.org

Inleiding (6 / 7)

IAS Board sluit aan bij waardebegrippen van IVS Council, gevolg:

- IVS wordt meest gezaghebbende standaard- RICS en TEGoVA conformeren zich aan IVS

Implementatie IVS (-marktwaardebegrip) in NL wordt thans onderzocht door Berkhout en Hordijk. Aanbevelingen worden begin 2010 verwacht.

Zie IVS en Nederlandse waarderingsstandaarden en artikel PropertyNL 29-04-2009

Inleiding (7 / 7)

NL’se praktijk

1. Ethische - / gedragsnormen door beroepsorganisaties:- Gedragscode NVR- NVM Erecode- LMV Erecode- VBO Gedragscode

2. Persoonscertificering door VastgoedCert3. Waarderingsstandaarden

- ???

RICS Valuation standards (Red book)

Practice statements:PS 1 Compliance and ethical requirementsPS 2 Agreement of terms of engagementPS 3 Basis of valuePS 4 ApplicationsPS 5 InvestigationsPS 6 Valuation reports

Guidance notes:GN 1 - 6

PS 1 Compliance and ethical requirements

PS 1.1 Compliance with these standardsPS 1.2 ExeptionsPS 1.3 DeparturesPS 1.4 Qualifications of the valuerPS 1.5 Knowledge and skillsPS 1.6 Indenpendence and objectivityPS 1.7 Additional criteria for indepence

PS 1 Compliance and ethical requirements

PS 1.2 Exeptions

• advice during the course of litigation;• arbitrations and similar disputes;• advice in preparation for or during the course of

negotiations;• internal valuations;• certain agency or brokerage work; and• antiques and fine art.

PS 2 Agreement of terms of engagement

PS 2.1 Confirmation of terms of engagementPS 2.2 Special assumptionsPS 2.3 Marketing constraints and forced salesPS 2.4 Restricted informationPS 2.5 Revaluation without inspectionPS 2.6 Critical reviews

PS 2 Agreement of terms of engagement

PS 2.1 Confirmation of terms of engagement

1. identification of the client;2. the purpose of the valuation;3. the subject of the valuation;4. the interest to be valued;5. the type of property and how it is used, or

classified, by the client;6. the basis, or bases, of value;7. the date of valuation;8. disclosure of any material involvement, or a

statement that there has not been any previous material involvement;

9. if required, a statement of the status of the valuer;

10. where appropriate, the currency to be adopted;

11. any assumptions, special assumptions, reservations, any special instructions or departures;

12. the extent of the member’s investigations;13. the nature and source of information to be

relied on by the member;14. any consent to, or restrictions on, publication;15. any limits or exclusion of liability to parties

other than the client;16. confirmation that the valuation will be

undertaken in accordance with these standards;17. confirmation that the valuer has the knowledge,

skills and understanding to undertake the valuation competently;

18. the basis on which the fee will be calculated;19. where the firm is registered for regulation by

RICS, the firm’s complaint handling procedure, with a copy available on request;

20. A statement that the valuation may be subject to monitoring under the institution’s conduct and disciplinary regulations.

PS 3Basis of value

PS 3.1 Basis of valuePS 3.2 Market valuePS 3.3 Market rentPS 3.4 Worth and investment valuePS 3.5 Fair value

PS 3Basis of value

PS 3.2 Market value

The estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.

PS 4Applications

PS 4.1 Valuations for financial statements prepared under IFRS

PS 4.2 Valuations for secured lendingPS 4.3 Valuations for public sector assets for

financial reporting

PS 5Investigations

PS 5.1 Inspections and investigationsPS 5.2 Verification of information

PS 6Valuation reports

PS 6.1 Minimum content of valuation reportsPS 6.2 Description of a reportPS 6.3 Reporting the basis of valuePS 6.4 Special assumptionsPS 6.5 Depreciated replacement cost in the

private sectorPS 6.6 Depreciated replacement cost in the

public sector

PS 6Valuation reports

PS 6.7 Comparison of depreciated replacement cost valuations and alternative MV’s

PS 6.8 Negative valuesPS 6.9 Property in more than one statePS 6.10 Incorporation of other valuesPS 6.11 Preliminar valuation advicePS 6.12 Publication statementPS 6.13 Published references to departures and

special assumptions

PS 6Valuation reportsPS 6.1 Minimum content of valuation reports

1. identification of the client;2. the purpose of the valuation;3. the subject of the valuation;4. the interest to be valued;5. the type of property and how it is used, or

classified, by the6. client;7. the basis, or bases, of the valuation;8. the date of valuation;9. disclosure of any material involvement or a

statement that there has not been any previous material involvement ;

10. if required, a statement of the status of the valuer;

11. where appropriate, the currency that has been adopted;

12. any assumptions, special assumptions, reservations, any special instructions or departures;

13. the extent of the member’s investigations;14. the nature and source of information relied on

by the member;15. any consent to, or restrictions on, publication;16. any limits or exclusion of liability to parties

other than the client;17. confirmation that the valuation accords with

these Standards;18. a statement of the valuation approach;19. a statement that the valuer has the knowledge,

skills and understanding to undertake the valuation competently;

20. the opinions of value in figures and words;21. signature and date of the report.

De toekomst ?

• introductie marktwaardebegrip in 20… ?

• harmonisatie gedragscode taxateurs in 20… ??

• invoering International Valuation Standards in 20… ???

Discussie

• Wat vraagt de markt ?• Wat willen wij zelf ?• Wie gaat dat betalen ?• Invoering branchebreed of individueel ?• NVR leidend of lijdzaam ?• … ?

Vragen / opmerkingen ?

Albert van GellicumKendes Rentmeesters & Adviseurs BV

T 0318-582150M 06-55812725E albert.vangellicum@kendes.nl

Presentatie downloaden:http://www.kendes.nl/nieuws/