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Basic Apartment Valuation - July 2023
Monday, July 17, 2023, 8:00 AM - 5:00 PM CDT
Category: Events



MAAO Basic Apartment Valuation 

July 17-18, 2023 
In person 8:00am - 5:00pm daily 

  Holiday Inn & Suites 
St. Cloud, MN 

Online exam at course conclusion  
available to take independently on Tuesday, July 18 and Wednesday, July 19 


Click here to register

  Registration will close July 10, 2023, or when course size limit is reached.

Description: This course is for experienced residential and beginning commercial appraisers who want to learn the income approach to value apartment buildings.  It is highly recommended that students are not seasoned apartment appraisers. Previous income courses are helpful but not required in order to take this course. Apartment valuation is fun and interesting! And it is a great way to learn about the income approach to value. Join us as we use real-world apartment data to develop practical skills that you can use back in the office. 

 Topics will include: 
    •    The income approach to value 
    •    Real estate investment for appraisers
    •    Market segmentation 
    •    Data collection and  analysis 
    •    Developing capitalization rates from the market 
    •    Understanding expense statements 
    •    Developing mass income models from your data 

 Note: This class will be a 2-day format. The exam will ONLY be available online. Course participants will receive links to take the exam independently online on Tuesday or Wednesday following the course. Class size limit of 48 students. 


Credits: This course is a 15 hour, 2-day course with 14 hours of instruction and a 1 hour exam.  This course has been approved by the State Board of Assessors for 15 hours of continuing education. To use this course as one of the two 15-hour property-type specific courses required for AMA licensure, you must take the exam. You do not need to take the exam if you only need CEHs, in which case you will only receive 14 CEHs. 

Instructors: Sue Schulz, SAMA, McLeod County Assessor & Mike Lillibridge, Senior Commercial Appraiser, Ramsey County


Fee: MAAO Member - $225; Non-Member - $330 

Payment: Credit card only


Location: Holiday Inn & Suites, 75 37th Ave S, Saint Cloud, MN 56301 

Prerequisites: None. It is highly recommended that students are not seasoned apartment appraisers. Previous income courses are helpful but not required in order to take this course.


Requirements: Calculator


Textbook: Course materials will be provided in person during the course.


Hotel Group RateFor your convenience, a block of hotel rooms has been reserved at the Holiday Inn & Suites St. Cloud for $98/night. Reservations are the responsibility of individual attendees and must be made by July 7, 2023, to ensure the group rate. Reserve a reservation by calling the hotel at (320) 253-9000, option 0, and mentioning the MAAO room block. 


Student Expectations: This course includes 14 hours of classroom instruction during which students will be expected to participate in discussions, group activities, and coursework that may include but is not limited to reading, homework, problem solving, etc. both during and outside classroom hours.  There is also an independently taken online proctored exam at the end of the course the student should plan to review for.  If alternative testing options are required, please contact [email protected] via email as soon as possible to discuss, and we will attempt to make reasonable accommodations. 

Food and Beverages: For student, instructor and employer convenience, lunch is included in your registration fee. A limited variety of refreshments and snacks are also included in your registration fee and will be available for AM and PM breaks. If you medically require a special diet due to food sensitivities or allergies, please email [email protected] as soon as possible, and we will attempt to make reasonable arrangements. 


ADA Policy: If you have a disability and may require some accommodations at any event, please notify us via email to [email protected] at least two weeks prior to the course, and we will attempt to make reasonable arrangements.

Cancellation Policy:  Cancellation requests received prior to 8:00am five business days prior to the start of the course will be issued a refund, less a $30 administration fee. Cancellation requests received after this time or registrants who fail to attend the course are responsible for the entire fee.  If a registrant is unable to attend the event, a substitute from the jurisdiction that paid the registration fee can attend at no additional charge. Please send written notification of this change or cancellation requests to [email protected]. Although it is not the policy of MAAO to cancel a course or seminar, MAAO reserves the right to do so and provide a full refund if the minimum enrollment level is not reached. Refunds will be issued within 30 days of the date of the course or conference. 


COVID Considerations: MAAO is following the current guidance from the Minnesota Department of Health. Each educational offering is subject to cancellation if mandated by the Governor or due to a change in COVID conditions. A 100% refund will be processed for any registrant due to a COVID-related cancellation. Attendance at any course is at the risk of the employer and attendee. MAAO will not be held liable.

Additional Information: Refer to MAAO's education FAQs and policies.


Click here to register

 Registration will close July 10, 2023, or when course size limit is reached.


If you are not currently a member of MAAO and would like to join to receive member-based pricing, click here to learn how to join MAAO.  Please allow one business day for membership application processing prior to registering for courses and seminars.

Contact: [email protected]