The API Standards Team, with the support of the Residential Standards sub-Committee have finalised the PropertyPRO Supporting Memorandum (PPSM) document and the associated output reports.

The suite of documents are now hosted and available for downloading and review on the API PropertyPRO 2020 Resources webpage, here.

The API advises that a number of changes were made to the PPSM and associated output report templates over the past few weeks.  Each of the sample output reports for the various property types, which are available for download, have a number of yellow highlighted sections which reflect the recent changes.

The API would also like to draw Valuer Members and their corporate employers to both the Valuer and Countersignatory Declarations on the first page of the reports which have also been updated, and are highlighted in yellow.

The effective date for the ‘new’ PropertyPRO Supporting Memorandum, including full adoption of the report templates, is Sunday 5 April 2020.

The current PropertyPRO Residential Valuation and Security Assessment Supporting Memorandum remains in effect until the new ‘PPSM’ goes live on 5 April 2020. A PDF version of the current version is available here.

As per previous advice the API has chosen Sydney based IT company, PropertyPRO Technology Pty Ltd to develop, host and support a new version of PropertyPRO Online to be known as PropertyPRO+ which is in the final stages of development and will produce reports in full compliance with the PPSM, as an initial offering, from 5 April 2020.  Further information about the PropertyPRO+ product can be obtained by emailing [email protected]

Please do not hesitate to contact us at [email protected] if you have any queries regarding the ‘new’ PropertyPRO Supporting Memorandum or its implementation and release.