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Valuation & Appraisal


PAMS® Property Portfolio Manager


Introduction

PAMS® Property Portfolio Manager draws on the professional expertise of our Valuation and Planning Divisions to protect our clients' property against capital asset erosion through inadequate (or over adequate) fire insurance coverage, down zoning and adverse market value changes. Simply put, PAMS® PPM provides clients with professional valuation and planning advice when they need it so that they can avoid being blind sided by external events that threaten their property. It reduces their administrative burden and risk and better positions them to maximise the value of their property holdings. When required, it will also reduce the cost and expedite the valuation of their property for financing, balance sheet, IFRS and other purposes.

PAMS® Property Portfolio Manager

PAMS® PPM is a creature of the twenty first century: the culmination of four decades of investment in information technology and building a real estate services delivery model which so far anyway, is unique in Canada. This is how it works:

Every year we send the property owner the following information two weeks prior to their property fire insurance renewal date:

  1. Fire Insurance - the Replacement Cost New value for each building in their property portfolio.
  2. Zoning - the current zoning on each property in the portfolio together with a notification of any proposed change, and the action required.

    Since planning is an ongoing process the client may get notification at any time from the planning authority of proposed changes to the Zoning By-Law or Municipal Plan that may benefit or adversely impact any property in their portfolio.  The client forwards that notification to us through their personal Client Area on our web site www.turnerdrake.com and we will then advise our client of the appropriate action required to protect their property.

    We also provide advice on the action required when the property owner is contacted directly by the planning authority with respect to developments in the neighbourhood which may impact their property.

  3. Market Value Forces - identification of supply and demand trends over the previous year and their impact on rents and capital values, together with a projection for the subsequent one and five years, as they pertain to each property in the portfolio. This process involves the following:

    1. An analysis of the neighbourhood cycle, its current status and trend.

    2. An analysis of supply and demand for properties in the neighbourhood, and similar properties to the subject property.

    3. An analysis of property prices in the neighbourhood, and of properties similar to the subject, using linear regression and exponential smoothing where sufficient data is available, to determine capital value trends.

    4. Deployment of a Market Trends Analysis tool to analyse Capital and Fundamental Markets.

Integration with Our Client's Operations

Once your property is enrolled in our PAMS® Property Portfolio Manager program we report to you each year, two weeks prior to the fire insurance renewal date with what essentially amounts to an annual property check-up. The results are also available on your personal Client Area on our web site www.turnerdrake.com. During the inter-reporting period we alert you to any zoning or planning changes that may affect your property and advise you if and what action to take to protect your asset.

Resources

PAMS® Property Portfolio Manager is only possible because we have access to the following resources.

  1. Information Technology - our  proprietary  CompuVal® IT  system is the forty year result of operating in the most data difficult region of Canada ... four provinces with a combined population and land mass only half that of any other province in the country, each with different mapping systems and all with an aversion to public disclosure of sales information, forced us to build a unique system flexible enough to plug into any data source, digest and analyse the information. To date we have invested over $2.0 million in CompuVal®. Its family of intelligent databases "talk" to each other and numerous external sources across the web. They analyse data "on the fly". CompuVal® utilises GIS technology to integrate real time databases with satellite and aerial imagery, topographic, property ownership, forestry, building footprint, zoning and street mapping, property specific information, sales and assessment data ... as well as market survey data on rents and operating expenses on every rental office and industrial building over 5,000 ft. in the region's six largest metropolitan areas. Clever algorithms process and integrate data from multiple sources to add flesh to the bones of raw data reluctantly released by public and private bodies. Hundreds of thousands of property records, millions of pieces of data ... little wonder we are data rich and penny poor. CompuVal® affords clients access to current data unequalled elsewhere in its breadth and depth ... and it allows us to analyse that information and keep our finger on the pulse of every market in the Atlantic Region. We wallow in information, bathe infrequently, have few conversational skills or friends ... but without data an opinion is just a guess.

  2. Informed Opinions: The Product of Trained Minds. Even the best data and analytical tools are useless unless the results are interpreted by trained minds. We hire our professional staff direct from the Atlantic Region's universities. Jobs are scarce so we get the pick of the crop. We then punish them with a gruelling, seven year choreographed training and education program which includes 27 in-house training modules, on-the-job training under the critical eye of a mentor, and the University of British Columbia's demanding Diploma in Urban Land Economics (DULE) and Bachelor of Business in Real Estate (BBRE) degree. We may not be right every time but by golly it's not for want of training.

  3. Quality Control: Our Cost not our Clients'! All of our operations are governed by a quality system registered to the international quality standard ISO 9001:2008. We are audited three times a year to ensure compliance, once by our external auditor SAI Global, the remainder by our own auditing team. As a result we have developed twitches and nervous ticks, constantly cast furtive looks over our shoulders, second guess ourselves and others ... and make fewer mistakes than would otherwise be the case.

  4. Specialist Skills: A Broader Perspective. PAMS PPM is provided by our Planning and Valuation professionals but they also call on other experts in the company as required. We have worked hard at building a team of professionals with complementary skills, eschewing the "silo" approach and insisting that all participate in our common training program irrespective of their specialist skills. We are experts in Economic Intelligence (market surveys, site selection, trade area analysis, supply and demand analysis), Planning (regulatory review, development analysis and approval, cost benefit analysis), Valuation (capital and rental values), Counselling (infrastructure acquisition, expropriation, feasibility studies, portfolio and asset analysis), Property Tax (mitigation), Lasercad® Space Measurement, and Brokerage (sales and leasing). One team with a common objective: get the job done ... right!

Lift the Burden: Reduce Costs

We invite you to reduce your administrative burden, cost and risk by availing yourself of PAMS® PPM for a trial period. Send us the address of each property in your portfolio and the fire insurance renewal date and we will prepare a Year 1 estimate of our fee. If you decide to proceed, you will be asked to enter into a PAMS® Consulting Services Agreement. Should you decide to discontinue PAMS® PPM, you can do so at any time.