Property Design & Measurement

APR 114: This course focuses primarily on single family residential properties, but also gives introductory information to multi-family residential and commercial properties. The morning session is spent reviewing single family residential designs with special emphasis given to design features that may impact their value. Condominium and townhome designs are also reviewed and features that impact their value are discussed. The morning finishes with a presentation on commercial/industrial building designs and a discussion on how that information should be considered in valuation of those property types. The afternoon session focuses on area measurement of residential andcommercial properties and on what is the appropriate room count for residential properties. Time is spent reviewing the source for measurement rules whether legal or by industry standard. Development of residential Gross Living Area as a common unit of comparison is discussed in detail. Students are required to work on several measurement exercises. Special emphasis is given to the ANSI standard. A section of the class deals with measurement of office buildings including development of Gross Building Area, Net Rentable Area, Usable Area, and Common Area Factor. The significance of these items in the valuation of an office building is discussed. For office buildings special emphasis is given to the BOMA standard.