17 - Inspection Flashcards
Inspection - Extract from Candidate Guide - Aug 2018 (updated Feb 2022)
What are the main RICS guidance docs regarding inspection ?
- Home Survey Standard - PS - 1st Ed 2019
* Surveying assets in the building environment - GN - 1st Ed 2017
What are the keys changes introduced into the Home Survey Standard ?
Introduced in March 2021 to update and standardised previous guidance regarding residential inspections.
This provides clarity on which survey best suits the property and responsibility in recommendation of the right one (Hart V Large)
Explain how you carried out your inspection.
I inspected the property both externally and internally to understand the scale and construction. I then inspect the adjacent area to the report defects and inspect the sub floor via a access hatch to review the sub floor arrangements.
What do you understand by the phrase “plaster wicking’ in respect to low level damp in masonry walls ?
The same term used for rising damp - The unwanted ingress of water that rising through capillary action
What is the RICS Home Survey standard ?
The resulting RICS Home Survey Standard is a fit for purpose standard for RICS members and regulated firms and delivers to current market needs. It is designed to significantly increase consistency, transparency and competency across all residential surveying in the UK and will be the single standard for condition-based home surveys. The concise mandatory requirements establish ‘benchmarks’ around which firms can design and deliver services that not only meet their clients’ needs but that the public can recognise and trust.
What is the commercial equivalent (RICS Home Survey standard) ?
Surveying Assets in the Built Environment, 1st edition 2017
Technical due diligence of commercial property 1st edition,
What is the RICS Home Survey Standard ?
The 1st edition dated Nov 2019 but released march 2021 is a professional statement released in 2021 to standardise the approach to surveys of residential nature, increasing consistency, transparency, detailing the approach, hazards, pre survey notes, reporting techniques.
How would you identify Japanese knotweed ?
- Shield or heart flat shape leaf
- Small red/purple spears
- Leaves on zig zag stems
What are Dilapidations ?
Dilapidations are breaches of leases due to the condition of the property being leased. This may result from mistreatment of the property or poor or absent maintenance or repairs that are required by the lease. Further work may also be required at the end of a lease to reinstate alterations that have been made to the property by the tenant. Interim schedule – claims during the term. Terminal schedule – claims near or at the end of the term. Final Schedule - issued after expiry of the lease.
What are you initial actions when dealing with a dilapidations claim ?
Check within the lease regarding various partied obligations such as internal only, external etc.
What are dilapidations ?
Dilapidation represent the claim for exit cost or end of lease costs atrited to restoring the property ack into the state prior to the letting.
What information/documents should be reviewed prior to the creation of a schedule of dilapidations claim ?
- Lease covenants
- Tittle deeds
- SOC
- Inspection of current condition, internals and externals
What is a section 146 notice ?
A notice served by the Landlord who wished to commence early forfeiture proceedings against the leaseholder following a breach of the lease only possible when this clause/term is written into the lease.
Can you name some common clauses you may come across with leases ?
Decoration in first 6 months, every 3 years and within final year of the lease, keep fixtures and during well maintain and in good safe working order, keep all car parks, access way etc. safe for public se, not overload the floors or main structure, ensure all stat compliance is up to date and suitably inspected etc.
What is an interim schedule ?
A interim schedule is served during the term of the lease relating to the current condition and not the end of terms schedule.
What is the title of the RICS document relating to dilapidations ?
Dilapidations in England and Wales, 7th Edition, September 2016 - Guidance Note - Blue
https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/sector-standards/building-surveying/dilapidations-7th-edition-rics.pdf
What do you understand about quantified demand?
If the required works are not carried out, the landlord may issue a schedule of dilapidations, or a notice to reinstate. If dilapidations works are not carried out by the end of the lease, the landlord may claim damages from the tenant (a terminal dilapidations claim). This may take the form of a ‘quantified demand’ prepared by the landlord or their surveyor setting out details of the landlord’s losses as a result of the dilapidations. However, the landlord cannot profit from this claim. The quantified demand might include: The cost of the repair works. The loss of value to the property. Loss of rent and service charge.Insurance.Cleaning.Fees.
What is the difference between a schedule of condition and a schedule of dilapidations ?
A schedule of condition review the current condition of the poerty at a certain point in time)the survey day), a schedule of dilapidations records the damages and breaches the tenant has made to the property during theory tenancy’s linked to the terms of a lease, with remedial repairs and applicable costs.
How did you carry out a lease analysis?
I look within the lease for information and clauses in relation to : • Inclusion and exclusions • Repairing liabilities • Site extents • Yield up • Fees
What is Scott schedule ?
A Scott Schedule is an extended version of the Schedule of Dilapidations which enables the tenant (or their surveyor) to respond to the content of the Quantified Demand and/ or the Schedule of Dilapidations.
What is the status of a schedule of condition ?
Legal Document
What other information is important to consider when assessing a claim ?
The proposed future of the building. For example is the building is going to be demolished the claim will have no affect on the value of the building, with the exception of hazardous materials that will be required to be disposed of accordingly.
What legislation does it fall under ?
The landlord and Tenant Act 1927