Submission Referenced Flashcards
5 rules of conduct
Rule 1: m/f must act with integrity and honesty
Rule 2: m/f must ensure they are competent
Rule 3: m/f must provide a good and diligent service
Rule 4: m/f must be respectful and encourage diversity/inclusion
Rule 5: m/f must act within the public interest
CBRE CHP
Acknowledge complaint within 5 days, complaint handling officer Geraldine Mash, response provided within 20 days, 8 weeks not resolved it will go to Property Redress Scheme.
Code for Leasing Business Premises - HoT
Items that may be included
Subject to contract
Identify and extent of
premises
Any special rights granted
Length of term, inside or outside Act with regards to renewal rights or break rights
Any requirements for a guarantor or rent deposit
Amount of rent, frequency of payment, whether VAT payable, rent reviews
Rent free/incentives
Liability s/c
Rights of alienation
Repairing obligations
Rights to make alterations
Insurance/damage
management and operational performance
EPC
Any other conditions
Surveying Safely 2nd edition
Covers:
H&S responsibilities for m/f
Assessing hazards and risks
Workplace H&S
Occupational health and hygiene
Site visits
Fire safety
Residential property surveying
Procurement and management of contractors
Professional statement - conflicts of interest
member must not advise or represent a client where doing so would involve a conflict of interest or a significant risk of a conflict of interest other than have informed consent
3 types of conflict: party conflict, own interest conflict, confidential conflict
Data Protection Act 2018
Sets out framework for data protection law in the UK
Requires businesses to conduct data protection impact assessments
Rights for individuals
Data security breaches must be reported within 72 hours to Information Commissioner
Policed by information commissioners office
Equality act 2010
Consolidated discrimination law and protection against discrimination.
4 illegal types: direct discrimination, indirect, harassment, victimisation
9 protected characteristics: gender reassignment, sex, sexual orientation, age, disability, race, religion/belief, marriage/partnerships, pregnancy/maternity
WELL & BREEAM
WELL: rates building in respect of spaces that can optimise health and wellbeing through construction and design - popular with developers
BREEAM: building research establishment environmental assessment method - voluntary tool measured against 9 environmental weightings including energy consumption, water use, transport links, waste management, health & wellbeing
MEES
Minimum Energy Efficiency Standards
E must be registered at the moment. UK government has undertaken a consultation and indicated that MEES threshold will rise to ‘C’ by 2027 and ‘B’ by 2030.
Rishi Sunak however…
Five valuation methods
Investment, comparative, DRC, residual, profits
comparable evidence in real estate valuation
Regards hierarchy of evidence.
Category A: direct, contemporary comps
Category B: general real estate market data from publish sources provide guidance
Category C: other background data less relevant to specific real estate market data e.g. evidence from other real estate types
RICS valuation - global standards 2022 (red book global) & UK national supplement 2019 (red book)
- Part 1: Introduction
- Part 2: Glossary
- Part 3: Professional Standards
- Part 4: Valuation technical and Performance Standards (VPS)
- Part 5: Valuation Applications (VPGA)
- Part 6: International Valuation Standards (IVS)
PS1 - compliance with standards where a written valuation is required
PS2 - ethics, competency, objectivity, disclosures
UK augments does not replace
Part 1 – Intro
Part 2 – UK Professional and valuation standards (UK VPS) – mandatory
Part 3 – UK Valuation Practice Guidance Applications (UK VPGAs) – advisory
Part 4 – Summary of changes from Red Book UK 2014.
Key UK VPGAs:
- VPGA 1 – Valuation for financial reporting
- VPGA 7 – Valuation of registered social housing providers assets for financial statements
- VPGA 8 – Valuation of charity assets
Valuer must follow Charities Act 2011 and comment on whether purchase/sale is in charity’s best interest and whether the terms agreed are the best that can be reasonably achieved. To use Market Value or Market Rent as bases of value.
- VPGA 10 – Valuation for commercial secured lending purposes
- VPGA 11 – Valuation for residential mortgage purposes
- VPGA 14 – Valuation registered social housing for loan security purposes
- VPGA 15 – Valuation for CGT, Inheritance Tax, SDLT, ATED
Guidance note valuation of development property 2019
supplements international valuation standards
interests where redevelopment is required to achieve the highest and best use, or where improvements are either being contemplated or are in progress at the valuation date”. This may include;
- The construction of buildings
- Previously undeveloped land which is being provided with infrastructure
- Improvement / alteration of existing builds
- Land allocated for development in a statutory plan
Guidance on sustainability and ESG in commercial property valuation and strategic advice
a valuer is now able to consider building obsolescence, capex requirements and carbon emissions when approaching any appraisal. Ultimately allowing for ‘brown discounts’ to be applied to secondary assets which are deemed to fall below current/future regulations or even green premiums
Code for leasing business premises
Improves quality and fairness of negotiations on lease terms and makes drafting of leases more efficient through new set of HoT
