On 8 March 2021, RICS published its Guidance Note for the valuation of properties in multi-storey, multi-occupancy residential buildings with cladding, following a consultation process in January.
The new guidance Valuation of properties in multi-storey, multi-occupancy residential buildings with cladding, clarifies types of properties which will, and those which will not, require additional inspections, as a result of concerns about fire safety.
The guidance creates clarity and consistency about when a valuer is not required to request further investigation of cladding through an EWS1 form before valuing a property in a building of multiple occupation.
The Guidance Note can be found here: https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/sector-standards/valuation/valuation-of-properties-in-multi-storey-multi-occupancy-residential-buildings-with-cladding.pdf