Inspection L3 Flashcards
Explain a factor identified during an inspection which impacted upon value.
Evidence of damp at Bryden House.
Impacted value because it was apparent to all who viewed, it put many people off, and the successful offer was below guide price, and cited this as a reason.
80 Burford High Street. Am I right in assuming the property was now vacant?
The property was vacant but the lease had not expired.
80 Burford High Street. Was a dilapidation schedule not undertaken with the previous tenant?
The tenant was still obligated under the lease.
80 Burford High Street. Did you advise that an EPC was required and if so, why?
Yes. Listed buildings are only exempt from the minimum threshold if the improvements required would unacceptably alter it. I deemed that was not a decision I was qualified to make, especially without an up to date EPC assessment.
80 Burford High Street. You advised on market appeal following improvements, can you tell me how you established this?
Smaller independent occupiers are often wary of taking on landlords improvements, even with contribution. White box units almost always have greater appeal to any tenant.
80 Burford High Street. In terms of the dilapidation, could you not have advised on this to save costs of instructing a dilapidation surveyor?
No because I am not a building/dilapidation surveyor.
Bourton Industrial (Moore Golf). How did you establish that no PPE was required?
The landlord advised. The unit was used as a golfing showroom, and not operating at the time I inspected. I parked directly outside.
Bourton Industrial (Moore Golf). Does the RICS offer guidance on inspection and who is responsible for safety?
Yes. Both myself and the commissioner of the inspection are jointly responsible.
VPS 2 of the Red Book (Inspections, investigations
and records)
RICS Professional Standard Technical Due Diligence Of Commercial Property, 1st Edition
Bourton Industrial (Moore Golf). Can you describe the property and when was it constructed?
Constructed in late 90’s early 2000’s
Steel portal frame light industrial unit
Block and profiled steel elevations
Profiled steel roof.
Leveled concrete floor
Mezzanine circa 1/3 of the internal floor space.
LED lighting
3 phase power supply.
W/C and small office
Did you not advise the landlord that the tenant could be liable for the improvements?
The tenant had defaulted on their rent and the landlord was seeking forfeiture, he was aware that he could pursue legal recourse.
