As previously announced on 19 August 2020 the PropertyPRO Supporting Memorandum (PPSM) document has been updated and becomes effective on Sunday 4 October 2020.
The API has updated the PropertyPRO 2020 Resources to include the latest version of the PPSM, the PPSM Fields spreadsheet and the PropertyPRO Progress Reports Schema (industry schema provided by ValEx/CoreLogic). These documents have been updated to reflect the changes considered by and agreed upon by the Residential Standards Committee. Namely, to remove the section on updated reports and also the removal of references on how to deal with post TBE report variations when undertaking progress inspection reports.
The PropertyPRO 2020 Resources are available here.
A copy of the updated PPSM is available here.
For a copy of the PPSM highlighting the changes between the current (10 May 2020) version and the updated (4 October 2020) click here.
The updated PPSM will ‘go live’ on Sunday 4 October 2020.
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 known as PropertyPRO+ which produces reports in full compliance with the PPSM. Further information about the PropertyPRO+ product can be obtained by emailing firstname.lastname@example.org
Please do not hesitate to contact us at email@example.com if you have any queries regarding the PropertyPRO Supporting Memorandum.
Posted on September 23, 2020
Member Reminder: Correct use of PropertyPRO Reports
The PropertyPRO Supporting Memorandum (PPSM) provides the basis upon which Members of the Australian Property Institute (API) provide valuations of ‘single residential properties’ for first mortgage purposes using the PropertyPRO ‘API Residential Valuation and Security Assessment Pro-forma Report’ (Report).…
PropertyPRO Supporting Memorandum Update
The PropertyPRO Supporting Memorandum (PPSM) and associated output reports was released earlier this year with an effective date of 10 May 2020. Following its release, the API received feedback from industry…
PropertyPRO Project Roll Out - Lessons Learnt Forum
We recently held the ‘PropertyPRO Lessons Learnt Forum’ where we collected constructive feedback about the successes and challenges of this significant project roll out. We are extremely grateful to everyone…
Logo Image Files and Licence Agreement
The ‘new’ PropertyPRO Supporting Memorandum (PPSM) and associated output reports will ‘go live’ on Sunday 10 May 2020. The API would like to thank all for their patience in the rollout of the…
PropertyPRO 2020 Resources updated 25 February 2020
As announced on 5 February 2020 the PropertyPRO 2020 Resources, including the PropertyPRO Supporting Memorandum (PPSM) document and the associated output reports have been finalised and are published on the API PropertyPRO…
PropertyPRO Supporting Memorandum release date 5 April 2020
Further to the previous communication from the API on 31 July 2019, the API via the Residential Standards sub-Committee has been hard at work finalising the release of the PropertyPRO Supporting Memorandum (PPSM)…