The Property Development course by UK Open Learning has been designed to provide the student with a clear and concise understanding of the nature of property development, what is involved and how to undertake a successful project.
This course in intended for individuals who are new to property development, those who are interested and want to find out what is involved in property development and for professionals in the trade who simply want to go over the basics. This course allows you to study at your own pace and is designed to develop an interest and understanding of property development, both on a business and personal level.
There are assignments to be completed after you have covered certain units. The author has inserted these assignments at the start of the course.
Awarding Body Information
NCFE is recognised as an awarding body by the qualification regulators ('regulators') for England, Wales and Northern Ireland. The regulators are the Office of the Qualifications and Examinations Regulator (Ofqual) in England, the Department for Children, Education, Lifelong Learning and Skills (DCELLS) in Wales and the Council for Curriculum, Examinations and Assessment (CCEA) in Northern Ireland.
The course is divided into 20 units. Firstly the author introduces the property market, where to buy and who can develop.
· What is property development?
· Who are property developers?
· Key job description
· Work Conditions
· Personal Requirements
· How can you benefit from property development?
· Who can develop properties?
· Where to buy property
· Professional involved in Property Development
The credit crunch is explored in the second unit. The author identifies how the credit crunch initiated and how the credit crunch has opened new doors to property investors.
· The Credit Crunch explained
· How can you benefit from the housing market crash?
· Methods to overcome the Credit Crunch
· Become you own estate agent
· Sit it out
· Create several sources of revenue
· A work partner
· Methods of finding finance
· Control your outgoings
· Re-evaluate you property portfolio
· Stay focused and be strong
It is important to carry out desk study, before investing in property, thus, methods of property research are established in unit 3.
· Before you start
· National market v local market
· What types of properties can I buy?
· Where can I find out about what property is available?
· Where to really look
· Land Acquisition
· Finding property to invest
· Do your research
· Local neighbourhood analysis
· flood area check
· Will your project be profitable
It is essential to understand the legal aspect of property, in unit 4 the author explores property and the law, including, conveyancing, knowing your rights and how to sell your property.
· Freehold or leasehold
· Restrictions and covenants
· Selling a property
· Types of surveys
· The legal process
· Gazumping and gazundering
· Knowing your rights
· Project particulars
· What to look out for
· Top tips for buyers and sellers
· Key terms
· What if there’s a problem?
· Useful addresses
· Checklist for buying property
· Property and Legal Glossary
Different types of property including listed building are identified in unit 5.
· Where to buy
· How to find a bargain
· Making an offer
· Types of property
· Listed buildings
· When is a building worthy of listing?
· Principles of selection
One of the most key areas of property development is finance. In unit 6, the author explores different methods of finance option available on the market.
· Plan carefully
· Available equity
· Raising funds from family and friends
· Insurance on mortgages
· Loans and overdrafts
· Investment syndicate
· Government and Council schemes
· Shared ownership
· Who is eligible?
· How much does it cost?
· Taxes and fees
· Ongoing monthly costs
· Property cost checklist
Unit 7 establishes plans and drawings for your property.
· Size of family
· Law and the government
· Reasons for building a home
· How to design house plans
· Sample plans
Building regulations are vital when it comes to all aspects of a building. In unit 8 the author analyses what building regulations are and what they cover.
· What are building regulations?
· Why comply with building regulations?
· What building work should comply with building regulations?
· What the regulations cover
· Buildings and building work exempt from building regulations
· How to apply for building regulations approval
· Local authority building control service
· A full plans application
· Building notice
· Approved inspectors’ building control service
· Consulting your neighbours
· How building regulations are enforced and how to appeal
· How are the building regulations enforced?
· What happens if you disagree with a local authority’s enforcement notice?
In unit 9 we cover planning, which is one of the most important part of developing property.
· Do you need planning permission?
· Learn how to make an application
· The planning process
· Buy to let
· Building a buy to let portfolio
· Do I need permission to rent my property?
· Where to advertise?
· Accommodation Agencies
· Tax implications of renting out property
· Who should pay the Council Tax?
· Do I have to take an inventory of the property?
· Written agreement
· Stamp duty
A successful and well-organized project is the result of excellent project management. In unit 10 the author illustrates project management.
· Who is going to manage your project?
· Managing a project yourself
· Appointing a Project Manager
· The Management Brief
· Questions you should ask yourself
In unit 11 the author covers renovation of property
· Clearing out for a renovation project
· General renovation tips
· Work schedule
· Information you need to gather
· Renovation a bathroom
· Renovating a basement
· Windows and lighting
· Building a home office
· Building a garage
· Construction costs
· Quotes to secure
· Building Regulations
· Gas and electrical
· Energy efficiency
Buying at auction is a popular method of buying property at good value; this is covered in unit 12.
· Do your research
· Auction regulations
· Reconnaissance trip
· Unsold lots
· Set a limit for yourself
· Be dispassionate
Unit 13 identifies the advantages and disadvantages of buying property before it is built.
· What is Off-Plan property?
· Why buy property that hasn’t been built?
· Advantages of buying off-plan
· Disadvantages of buying off-plan
· Using a Property Investment Company
· What types of Off-Plan property are there?
· Subject to planning
· 12 month plus build programme
· Buying into an existing development
· Back-to-Back and Assignable Contracts
· Assignable contracts
Marketing your property efficiently is very important in the selling stages; this is covered in unit 14.
· Putting together a marketing strategy
· Tips on a sales strategy
· Advertising on the internet
· ‘For Sale’ Boards
· Wording your property adverts
· Estate Agents
· Multi agency
There are different rules and regulations for buying property in Scotland and Abroad. The author establishes this difference in unit 15 and unit 16.
· Looking at properties
· Buying property in Scotland
· Pricing of property
· The buying process
· Making an offer
· Buying Property in Ireland
· Buying Process
· Foreign market
· Buying without a lawyer
· Legal Advice
· Financing your property abroad
· Capital gain potential
· Estate Agents abroad
· Safety and security
· Local travel
· Local laws and customs
· Natural disasters
Furthermore, in unit 17 and unit 18, the author covers how to start a business and different types of businesses.
· Where to start?
· Chances for success?
· What will it cost?
· Raising finance
· Government and loan grants
· Know yourself
· How do you want to trade?
· Sole trader
· Limited company
· Advantages of a limited company
· Creating a business plan
· The business description
Finally, in unit 19 and unit 20, the author stresses the importance of recruiting and managing staff effectively.
· Recruiting people you know
· The recruitment process
· The vacancy
· Attracting applicants
· The contract
· Roles of pay
· Training and development
Throughout the course there will be self-assessment questions, and tutor marked questions, to enable students to monitor their progress.
Recommended hours of study
It is recommended that 100 hours of your time should be allocated towards study for the Property Development course.
As a student of UK Open Learning you will have access to tutor via email who will mark your work and guide you through the course to ensure you are ready for your examinations.
Frequently Asked Questions
Q: How does the Introduction to Property Development course work?
A: The great thing about distance learning is that you can study from home or work, at your own pace and in your own time. You will also have your own professional personal tutor offering unlimited support via email and post, seven days a week. He or she will be happy to answer any questions you may have and give you advice as to how to complete the course successfully.
Q: Is there an exam at the end of the course?
A: No, the course is made up of assignments which you complete and send to your tutor for marking.
Q: Is there a word count for my assignments?
A: No, there is no specific word count but you have to prove to the tutor that you have fully understood the questions. One sentence answers will not be accepted and you will be asked to redo the question and resubmit it.
Q: What happens if I’ve paid for the course but find it unsuitable?
A: Not a problem. If you return it within seven days, we’ll give you a complete refund, as long as the course is in re-saleable condition.
Q: What are the qualifications required to enrol onto this course?
A: A reasonable level of literacy is required as this is a Level Three course but otherwise there are no entry requirements, just a keen interest in the subject.
Q: How long do I have access to the personal tutor service?
A: The personal tutor service is available for 12 months from when the study materials are received. At Start Learning we aim help our students to the best of our ability; therefore we are always delighted to answer questions and queries out with the 12 month period.
Q: Do your courses meet the latest syllabus changes?
A: yes, all our course materials meet any changes and will be updated free of charge if further changes are made.
Q: Is this Information to Property Development course paper based or on-line?
A: Our Information to Property Development courseis paper based and comes in an attractive folder.