Property management

Question 1

What does RICS stand for?

Answer 1

Royal Institution of Chartered Surveyors

Question 2

True or False: RICS provides guidelines for ethical property management.

Answer 2

True

Question 3

Fill in the blank: RICS emphasizes the importance of __________ in property management.

Answer 3

sustainability

Question 4

What is one key responsibility of property managers according to RICS?

Answer 4

Ensuring compliance with legal and regulatory requirements

Question 5

Multiple Choice: Which of the following is a principle outlined by RICS for property management? A) Maximizing profit at all costs B) Ethical management practices C) Ignoring tenant needs

Answer 5

B) Ethical management practices

Question 6

What is the service charge residential management code?

Answer 6

The Service Charge Residential Management Code is a key document published by RICS that sets out best practice for managing residential leasehold properties in the UK.

Question 8

Who is the service charge residential management code aimed at?

Answer 8

Landlords
Managing agents
Leaseholders
Potential leaseholders
Tribunal

Question 9

What is the service charge residential Managment code?

Answer 9

It is a document that sets out best practices for the management of residential service charges in leasehold properties in England and Wales.

It is particularly relevant to managing agents, freeholders, and residents’ management companies, and aims to ensure transparency, fairness, and accountability in how service charges are handled.

Question 10

What is service charge mean?

Answer 10

A variable service charge payable by a tenant in accordance with the definition at section 18 landlord and tenant act 1985.