RICS library

Almshouses could be considered another form of affordable housing so could be looked into in that context, you may already familiar with https://www.rics.org/profession-standards/rics-standards-and-guidance/sector-standards/valuation-standards/valuation-of-land-for-affordable-housing - you may have seen the consultation on a new edition https://consultations.rics.org/afforablehousing/consultationHome which will be retitled to Affordable housing development – valuation considerations - you may find the consultation draft (attached) has some relevant content and reference to rent standards etc. The final version is not due to be published until first quarter of 2026. 

In the list of technical changes for the Red Book UK supplement it says “[Former] UK VPGA 18 UK Affordable rent and market rent under the Housing Acts in a regulatory Context - removed as per evidence of affordable housing experts.” . This was due to insight from the working group overseeing changes to former UK VPGA 14 + 18 in co-ordination with a working group of specialists working in the affordable housing sector. As a result of these meetings it was unanimously decided to entirely remove the content of UKVPGA 18.   The definition of an affordable rent is contained in the Regulator of Social Housing Rent Standard dated April 2023. Rent Standard_April 2023 (publishing.service.gov.uk). 

Further resources: 

Valuation for Affordable Housing - C Solomon, 2016 https://www.isurv.com/info/390/features_archive/10048/valuation_for_affordable_housing 

Beyond the above and if considering you are still otherwise able to take on the instruction as per Rule 2 of the Rules of Conduct, you may want to seek additional input from those with relevant information such as the Almshouse Association which includes its members discussion of valuation for social rent https://www.almshouses.org/forums/topic/valuation-for-social-rents/  and contributions to factsheets about issues with almshouses like trustee obligations etc https://assets.publishing.service.gov.uk/media/5a7dfe26ed915d74e6223672/almsfact2.pdf or fellow members via the myRICS community. 

#Valuation

#affordable