Viability

Accurate financial appraisal of your scheme is vital to ensure best outcome whilst meeting local housing needs.

ProVal

Viability by tenure, dwelling and scheme. NPV and long-term cashflow displayed instantly.

Landval

Assess land values and gross profit with minimal information.

Benchmarking

Achieving best value is essential for your organisation. You must demonstrate continuous improvement and show how you compare with your peers.

Catalyst

Measure performance with online scheme reports. Annual written report indicates progress against a variety of Key Performance Indicators.

Stock

Social Housing landlords in today’s market must understand the economic value of their properties.

Stock Profiler

Analyse your entire portfolio to see which units are most valuable and which need to be considered for a change of tenure or sale.

Sales

With buyers and tenants eager to find homes, you need to find them the right property.

Home Match - Coming Soon

Associations can pool lists of prospects against available properties and augment with soft data to rank applicants for the best match.

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Please note you will need Apple's QuickTime Player (click here to download) or Windows Media Player to view these bite-sized videos. To view these videos simply click on the start/play button.

 

Starting

You are ready to start a trial of ProVal LS.

The credentials and password are already set.

Click the green OK button to open the application.

 

Project Folder

Look at the tree on the left hand side of the screen.

Expand the Defaults folder.

Expand the Appraisal Templates.

Right mouse click on the Demo Template and choose Create from Template.

 

Appraisal Layout

The appraisal is on the right hand side of the screen.

The centre window displays an Appraisal Summary, for each product type and for the scheme.

Navigation buttons are across the top of the screen, A, B, C, etc.

Use the +/- gadget to expand/collapse the sections and maximise screen area.

Use the scroll bars on the right to move up and down.

 

Start Appraisal

This appraisal already has a lot of data set by default, but you can amend it.

Enter a scheme name of your choice.

Enter or amend any other field in this section.

 

Milestones

Expand Milestones - scroll down if necessary to see all of it.

Milestones are set by reference to a Cashflow Start date

Each milestone event is set by an offset from an earlier event.

Milestones are already set by default.

Amend as necessary.

Move the cursor away from this section and the milestones will be updated if the time order has changed.

Collapse Milestones.

 

Section A - Add dwelling type

Click on the navigation button "A"

Expand the Unit Attributes area.

There are no units in this appraisal yet.

You could add one manually by clicking the green button - Add new unit, but we recommend that you use one of the demonstration units which have data set by default.

 

Default dwelling types

Look back at the folder tree on the left hand side.

Under the Defaults folder you will see a folder called Unit Types.

In here are folders for different product types.

Expand the Social Rent and Homebuy folders and you will see two unit defaults, Demonstration 2 and 3 bed houses.

 

Insert new dwelling type

Put your cursor onto one of the unit types and holding down the left mouse button, drag the unit into the appraisal area.

Release the cursor and the unit will be added.

Repeat for more unit types.

Set the number of units for each type accordingly.

To create more screen area collapse the folder tree.

The Appraisal Summary window shows the summary position for product types of the units just imported.

 

Additional unit attributes

Expand Additional Attributes area.

Review the data and amend as necessary.

Use the inner scroll bar on the right to move up and down.

Collapse Additional Attributes.

 

Unit capital costs

Expand Unit Capital Costs

Acquisition, Works, Fees and Other Costs can be set per unit and/or as a total for the scheme.

Each part is laid out in the same way.

Note that Acq. cost and fees have not been set.

These will be set in Section B and the costs allocated to the unit.

Expand the Works section and note how this cost has been set by default.

Collapse Unit Capital Costs.

 

Subsidy (per unit)

Expand the Subsidy Section.

Subsidy (grant) can be set by unit (or in Section B).

Each row identifies a source of grant.

Click the green + icon to add more rows.

Collapse subsidy section.

 

Rent allowances

Expand Rent Allowances.

Each unit can have its own allowances set over different periods.

Expand Management.

Change the Year number to say 10 and then make amendments as necessary.

All allowances are set in a similar way.

The last allowance is for Major Repairs.

Expand Major Repairs.

Review inputs set by default.<

Collapse Allowances.

 

Set rent

Expand Rent.

The first part is read-only, where the Target Rent and the Rent Cap are displayed.

Expand Set Rent(per week)

Select the way you want to set the rent and enter.

The demonstration units already have a rent set by default.

Note that the rent can be changed over different periods in the long term cashflow.

Collapse Set Rents.

Collapse Rent.

 

Sales and staircasing

Expand Sales & Staircasing.

The equity percentage to be sold is set here, as well as any further staircasing.

Collapse Sales & Staircasing

 

Residual land value

Expand Residual Land Value.

This is a "nice to know" area of the appraisal and has no impact on the results.

Expand Assessed TSC.

This is a separate assessment of the TSC from the affordable loan and other income.

Expand Assessed Land Value.

This area deducts costs to leave a residual land value.

Fees/profit/deductions is by a user defined percentage.

Plotting Density translates the Residual Land

Value per unit to a value per ac/ha and the ranking shows which unit type performs the best.

Collapse Residual Land value.

 

Scheme costs

Click on the navigation button B.

Set costs at a scheme level.

These will be allocated back to each unit.

Costs can be set at the unit and/or scheme level.

Expand Acquisition cost.

Click green + button to add a new cost row.

Complete as appropriate.

The input cost can be inflated up to an event in the Development Cashflow if desired.

Collapse Acquisition Cost.

 

Scheme fees

Expand Fees.

A table of fees has been set by default.

Review and amend inputs as appropriate.

Collapse fees.

 

Scheme subsidy

Click the C navigation button.

When subsidy has been set at the unit level the inputs can be reviewed here.

Each tab shows the subsidy as a total, per unit and per person.

Alternatively, setting the total here will force the unit inputs to be amended to match.

Collapse Subsidy.

 

Development cashflow

Click the D navigation button.

Set interest rates.

Expand Development Cashflow Forecast.

The development cashflow is in landscape format and is displayed in the centre of the screen with its own horizontal scroll bar.

Each cost/income section can be expanded.

Each individual cost/income input can be cashflowed separately or the total for that cost/income heading can be cashflowed as a single sum.

Alternatively, costs can be entered manually into the cashflow.

E.g. Expand Works Costs.

Click on Works Cost blue button.

Select spread method – say Curve

Choose a curve from the available shapes.

Set a From and To date.

Click Ok/Close.

Repeat for other sections as necessary.

If costs change the cashflow will be automatically updated.

Collapse Development Cashflow.

 

Total scheme cost

Click the E navigation button

This is a read only section displaying the costs as analysed for each dwelling type

Collapse section.

 

Private finance

Click the F navigation button.

Select a Loan Repayment Method.

Expand Year 1 Requirement.

This is mostly read only.

Expand Loan Interest Rate.

These rates come from the Loan rates set Section A.

You can ignore the Affordable Loan section at this time.

Collapse Private Finance.

 

Inflation

Click the G navigation button.

Set a Base Inflation Rate.

Expand Income Inflation Margins

Set each one as required.

Expand Allowances Inflation Margins.

Set each one as required.

Typically all these are set by default.

Collapse Inflation.

 

Long term cashflow

Click the H navigation button.

Expand Long Term Results.

These should be self explanatory.

Expand Cashflow.

This extends to 100 years and has its own horizontal scrollbar.

Expand the cashflow detail and review as required.

Click on the Charts button in the Centre of the screen.

Collapse section.

 

Unit results

You have now completed the appraisal.

You can review individual results which are shown in Section A

Click on the A navigation button and go to Unit Attributes, see the last section - Results per unit.

Results for each tenure level are displayed in the Summary window on the left of your screen.

 

Save and close

Save and close the appraisal.

Click the close gadget on the tab of the appraisal at the top of the screen.

Click Save Changes.

Expand the Project Tree.

Your appraisal will be found in the Unfiled folder.

Here it can be renamed, moved to another folder and opened for editing.

Right mouse click and select the appropriate option.

 

Close programme

Close Programme.

 

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