COVID Questions Flashcards
Why was the Code of Practice for commercial property relationships during the covid-19 pandemic introduced?
It was published in response to covid to support the landlord and tenant relationship as they deal with the shocks.
The aim of the code is to facilitate best practice and working collaboratively.
What is Material Uncertainty?
It is a clause used by Valuers when there is a shock to the market and conditions are volatile - outwith expected level of market conditions.
Still used for some sectors such as retail and leisure. At RICS Valuers discretion to use based on reliable evidence. Under section VPGA 10
What are the effects of covid 19?
Difficult to quantity what the changes to capital value and investment etc is however from attending various CPD I understand that there has been a shock to the market which has led to challenges in development etc.
Gov schemes such as tax relief, grants, furlough schemes etc have been put in place to mitigate risk and limit impact.
What challenges have you faced in your role?
Engaging with tenants - effective communication has been more difficult and we have relied on technology and phone calls etc to ensure collaboration
Meeting on site - inspections etc.
