Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

APC - Autumn 2024 > Ella Mock Interview > Flashcards

Ella Mock Interview Flashcards

1
Q

CS: Prior to instruction, why do you carry out AML checks ?

A

To protect against the risk of financial crime and money laundering

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

CS: How do you carry out Conflicts ? and what do they get checked against ?

A

Internal platform at LSH where you complete a conflict on the property, client and check against live or invoiced jobs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

CS: What is the point of a COI check ?

A

To make sure you are not conflicted

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

CS: You issue LSH Standard LoE - on a joint sole agency basis - what does this mean ?

A

Joint Sole Agency is when two agents are bought onto a disposal and subject to lease completion will both receive a fee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are the different basis of agency in LOE ?

A

Joint Sole Agency
Sole Agency
Multi Agency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

CS: Can you tell me about the local industrial market

A

+ General market commentary

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

CS: When you inspected you identified the age - bec of the age what defects are you looking for ?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

CS: if you found Japanese Knotweed, how would you identify it ?

A

Purple stems with red specs with white flowers in the summer time. In the winter, it’s dark stems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

CS: In your accommodation table you note the areas of the unit - what is the usual percentage of office in a warehouse

A

5-10% office content

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

CS: can you name any further institutional characteristics of a warehouse unit

A

10% roof lights
Level loading door
Eaves height of 8 metres (depending on building)
concrete flooring
40% site coverage
LED lighting in warehouse

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

CS: you gave comp evidence to get to an ERV - did you treat an under offer estate evidence the same as other evidence ?

A

I didn’t treat it the same. ABC is also larger than the subject premises so i considered quantum but also kept in mind that the transaction was under offer and hadn’t completed.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

CS: What needs to be included in the marketing brochure ?

A

Property address, photos, floor areas, location commentary, property description

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

CS: is there any particular legislation you need to abide by when making a marketing brochure ? what does this legislation say ?

A

Misrepresentation Act 1967

To note create or publish any false or misleading statement which renders other statements misleading, with intent to deceive

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

CS: what legislation relates to marketing boards ?

A

Town and Country Planning Controlling of Advertisement 2007

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

CS: you mentioned a forensic examination of the covenant - what does this mean ?

A

This means assessing whether they can carry out their covenants in a lease i.e paying rent.

Would carry out a profits test, D&B test, landlord reference

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

CS: in terms of competence and the profits test - what is the profits test ?

A

Profits test is where you request the most recent 3 years audited company accounts and if their net profit is 3 x the rent for three consecutive years they pass the affordability test

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

CS: in your proposal you stated the schedule of condition was requested - what is a schedule of condition ?

A

Is a document appended to the lease which documents the condition of the property prior to the tenants occupation. Photos of the property would be included.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Who would draft a schedule of condition ?

A

Building surveyor would draft and then I would check it before its sent to solicitors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

CS: Did you advise your client to exclude the letting from security of tenure

A

I did yes, because none of the leases on the estate were inside the act.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What does security of tenure mean ?

A

It is the right of a tenant to occupy a property after the lease expires

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Inspection: How would inspection differ from agency to valuation ?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Inspection: if you were inspecting a unit with a colleague, and they hurt themselves, what would you do ?

A

Check you are ok first. If I was okay I would try help the colleague or call for help and then document the accident with the people on site and my company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Inspection: Prior to inspection, what form do you fill out ?

A

Pre-site risk assessment, when on site then changes to a dynamic risk assessment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Inspection: Can you name 5 types of PPE ?

A

Hard hat, high vis jacket, steel toe cap boots, ear defenders, protective goggles

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Inspection: Can you name an potential hazardous materials on site ?

A

Asbestos

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Inspection: Can you talk about the concept of a safe person ?

A

Safe person concept was developed to protect individuals in a hazards environment and built on three main pillars of competency, equipment and behavior.

Each individual takes ownership of their own safety with support from their organisation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

H&S: What is the health and safety legislation that rules over the UK ?

A

Health and Safety Work Act 1974

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

H&S: What is the RICS regulation regarding Health and Safety

A

Surveying Safely 2018 (reissued 2023)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Measurement: What does GIA mean ?

A

Gross Internal Area

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

Measurement: What is excluded in GIA ?

A

External open-sided balconies, fire escapes, canopies

On resi - greenhouses, garden stores

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

Measurement: Would you include a mezzanine in GIA

A

Yes if it had permanent access

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

Measurement: Would you include a loading canopy in GIA

A

No

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Measurement: Would you include a fire esacape in GIA ?

A

If it was internal yes but if it was an external escape route then no.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

Measurement: What is the difference between IPMS 3 and NIA for measuring offices

A

IPMS includes some internal that NIA excludes such as internal walls, columns and partitions.

NIA focuses purely on the useable floor area available for operations.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

Measurement: is there any IPMS for Industrial property ?

A

No

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

Measurement: Do you know when any IPMS for industrial could be brought in ?

A

It’s not been mentioned

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

Measurement: What is the standard office specification ceiling height ?

A

2.75 metre height

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

Measurement: What would the eaves be on a 50k sq ft warehouse on a brand new unit ?

A

8-10 metres

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

Measurement: what is the difference with clear internal height and apex ?

A

clear internal height is the height from the underside of the haunch on the eaves and apex is to the highest point of the warehouse.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

Measurement: how do you measure the apex ?

A

Put your disto directly on the floor underneath the highest height in the warehouse where it is clear

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

Vals: What are the 5 methods of valuation

A

Comparable
Investment
Profits
Residual
DRC

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

Vals: can you give an example of when you would use the profits method ?

A

Its used when the value of the property is closed tied to the success of the business being there - ie. hotels, restaurants and pubs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

Vals: you used ITZA when valuing a retail unit - is that a method of measurement ?

A

No its a method of valuation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
44
Q

Vals: why and how far is each Zone A in measuring ITZA

A

6.1 metres

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
45
Q

Vals: How do you do a term and reversion ? And you can draw this out if you like.

A

draw it and add in for void period

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
46
Q

Vals: When would you do a term and reversion ?

A

When a property is under rented.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
47
Q

Vals: Why would the yeild be lower for the term than the reversion ?

A

To reflect the lower risk on the term and then a higher risk for the reversion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
48
Q

Vals: What is a yeild ?

A

It refers to the rate of return on an investment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
49
Q

Vals: As a valuer why would you need professional indemnity insurance ?

A

To protect yourself in case there has been a suspected breach of duty of care

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
50
Q

Data Management: What is GDPR ?

A

General Data Protection Regulation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
51
Q

Data Management: Is this applied in the UK ?

A

It has been adapted after Brexit to apply to the UK

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
52
Q

Data Management: When was the UK Data Protection act introduced

A

January 2021

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
53
Q

Data Management: Do you know the 8 rights in UK GDPR

A

Right to be informed
Right of Access
Right to rectification
Right to erasure (to be forgotten)
Right to restrict processing
Right to data portability
Right to object

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
54
Q

Data Management: What are the principles in UK GDPR? (there are 7)

A
  1. Lawfulness, Fairness and Transparency
  2. Purpose Limitation
  3. Data Minimisation
  4. Accuracy
  5. Storage Limitation
  6. Integrity and Confidentiality (security)
  7. Accountability
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
55
Q

Data Management: How do you secure your data ?

A

Password protected
Multi-factor authentication
Regular data backups

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
56
Q

Data Management: Where do you store your data ?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
57
Q

Data Management: Whats the problem with printed data ?

A

If it gets lost, fire etc then there is no back ups in place to retrieve the data

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
58
Q

L&T: What time limits apply to LR notices ?

A

to serve no earlier than 6 months prior to lease expiry and no later than 12 months

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
59
Q

L&T: What method did you use to Value the retail method in Enfield ?

A

Comparable method

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
60
Q

L&T: What specific retail method did you use to value this ?

A

ITZA

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
61
Q

L&T: Can you explain valuing ITZA ?

A

ITZA values a retail unit with the frontage of the unit being the most valuable and as you move further back into the unit (6.1 metres) then it devalues

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
62
Q

L&T: When would you recomend that a LL serves notice in a protected LR

A

If the property was under rented

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
63
Q

L&T: Can you tell me about any notable sections of the Landlord and Tenant Act 1954 ?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
64
Q

L&T: What kind of tenancy are covered by the landlord and tenant act

A

Commercial tenancies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
65
Q

L&T: For you Aylesbury example, why did you advice you client not to go to court ?

A

Because the rental roll for the property was really low it wouldnt have been cost effective to incure any further costs on the property.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
66
Q

L&T: You mention time was not of the essence, how did you know this was the case ?

When would you know time is of the essence?

A

There were no provisions to say that time was of the essence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
67
Q

L&T: What is the difference between a lease and a licence ?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
68
Q

L&T: What characteristics make a lease a lease ?

A

A lease has exclusive possession, for a fixed term by both parties with formal rent payments listed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
69
Q

Leasing and Letting: Can you guide me through your example letting in Witham

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
70
Q

Leasing and Letting: What is Shell condition ?

A

Shell condition is where the property was up and built but the inside of the warehouse was not fitted with WC’s and office content, therefore in a shell condition

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
71
Q

Leasing and Letting: did the property being in shell condition effect your negotiation ?

A

It did, we asked for an additional 3 months rent free as the tenant would be spending more money on fit out.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
72
Q

Leasing and Letting: how did you identify the rent free agreed ?

A

We requested a quote from a handful of surveyors for the cost of a toilet and kitchenette in this instance and it came to the equivalent of 3 months rent free

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
73
Q

Leasing and Letting: Are there any alternatives to rent depositis

A

A gaurantor / references

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
74
Q

Leasing and Letting: What is a Garuantor ?

A

What documents apend to a lease with a gaurantor - AGA

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
75
Q

Leasing and Letting: What is required with storing money for a rent deposit ?

A

Personal to the tenant and attached to the lease as a separate deed

Legally documented in a rent deposit deed

Money held in a separate bank account

Interest retained by the tenant

Agreed terms for the release of the monies

Details of the release mechanism to be stated in the deed

Can include top up mechanisms for rent review uplift

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
76
Q

Leasing and Letting: what legislation around storing deposit money

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
77
Q

Leasing and Letting: Can you talk about the RICS Code of leasing business premises 2020

A

The aim of the RICS Code for Leasing Business Premises 2020 is to improve the quality and fairness of negotiations on lease terms and make the legal drafting process more efficient.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
78
Q

Leasing and Letting: What are the appended documents in the RICS Code of leasing business premises 2020

A

Appendix A - Heads of Terms
Appendix B - Guidance for Landlord & Tenant

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
79
Q

Leasing and Letting: can you name 10 items included within a heads of terms document ?

A

Parties, property, lease term, rent (and frequency, any breaks, inside 54 Act, alienation, repairing obligations, incentive, service charge and insurance premiums

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
80
Q

Purchase and Sale: What are the 4 methods of purchase and sale ?

A

Informal tender
Formal tender
private treaty
auction

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
81
Q

Purchase and Sale: Whats the difference between informal and formal tender ?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
82
Q

Purchase and Sale: For informal tender, when you request bids, what is included on a request for bids letter ?

A

the date, the property, the timing for which to receive bids back by, any further information needed ie, proof of funds, any conditions etc.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
83
Q

Purchase and Sale: When making an offer what do you include in the offer letter ?

A

The purhcase offer price, any conditions with this, your name and the legal parties you’ll be using, any due diligence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
84
Q

Purchase and Sale: Why is the funding strategy important ?

A

It depends on the client’s objectives but for example a cash buyer would be quicker as they have the cash available whereas a debt / mortgage requires a process

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
85
Q

Purchase and Sale: Are there any RICS documents that guide on purchase and sale ?

A

Estates Agents Act

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
86
Q

Ethics: What are the 5 rules of conduct ?

A
  • honesty and integrity
  • maintain and act competently
  • provide high quality and diligent service
  • treat others with respect
  • act in the publics interest
87
Q

Ethics: Can you provide an example in relation to Rule 4 ? diversity and inclusion

A

Provide example when on site doing viewings and showing someone round who was old and someone else pregnant

88
Q

Ethics: Assuming you qualify and are going to set up your own business, and what to be RICS accredited, what do you have to do ? VERY TYPICAL QUESTION

A

Complaints handling doc
RICS Logos
PI Insurance - know why you would have it and some case law for it

89
Q

Ethics: Why do you want to be RICS accredited ?

A

Would like the mark of excellence and to act in the interest of the consumer

90
Q

Ethics: What are the benefits to being RICS accredited ?

A

Status - Your professional credentials provide unrivaled client confidence

Recognition - Promotion of your professional excellence to governments and markets

Market Advantage - RICS stats and standards gives you a competitive advantage

Knowledge - International practice standards, professional guidance, CPD and knowledge sharing

Network - Access to professionals worldwide

91
Q

Ethics: you arrive at a client meeting, just you and the client and they get abusive, what do you do ?

A

Tell them you wont be spoken to this why and if they continue you’ll leave, leave the situation and report to your manager

92
Q

Ethics: You have completed a deal and are attending an appropriate meal, but party after at a club and see them doing elicit drugs, what would you do ?

A
93
Q

Ethics: In terms of rules of conduct and receiving gifts, what is the company policy on gift receiving ?

A

We can receive gifts that are proportionate to the instruction. But any gifts over £50 need to be registered

94
Q

Ethics: you are in the pub and a colleague is getting drunk af and inappropriate what do you do ?

A

Leave the situation immediately and report to your manager

95
Q

Ethics: you have completed a transaction, and get offered £2,000 cash from the occupier, what do you do ?

A

Do not accept it. LSH do not receive any cash no matter the amount.

96
Q

Ethics: Are there any recent cases that have been through the courts that have interested you ?

A
97
Q

Ethics: in terms of fee negotiations, how would you go about that ?

A
  • market appropriet fees
  • no other party undercutting
98
Q

Ethics: Terms of engagement - before issuing what must you do ?

A
  • check you are competent and COI checks
99
Q

Ethics: If there is a conflict, are you able to act on a job ? How would you manage it ?
Would you report the conflict ?

A

If the conflict is manageable and both parties agree on both sides with informed consent signed then yes

100
Q

CS: Due dilligence - what did your due dilligence cover?

A

asbestos, epc, title register

101
Q

CS: How do you do AML checks?

A

internal platform sent to our compliance team who carry out checks on any transaction over £100,000 pa. Check for any suspicious activity

102
Q

CS: What if it did show up with a red flag on the AML what would you do?

A

I would review this with our compliance team, normally it will be requesting information for further clarity. If it was further than this I would review with the compliance team on whether I could continue with this instruction

103
Q

CS: Talk to me through the construction details of the property

A

Steel portal frame
Part brick / part steel sheets
Single glazing
Roof??

104
Q

CS: Whats the difference between steel portal frame and steel frame building?

A
105
Q

CS: What is the size of the site?

A

Total site is 0.11 acres (4791.60 sq.ft)

106
Q

Cs: What was the site coverage?

A

52.84%

107
Q

CS: How big is the secure yard?

A

0.057 acres (2,483 sq. ft)

108
Q

CS: Said you measured the building, what basis of measurement did you use?

A

GIA

109
Q

CS: What does GIA mean?

A

Gross Internal Area
Measurement to the internal walls

110
Q

CS: GIA - where do you measure to in the building?

A

Internal wall structure

111
Q

CS: Is the internal wall face brick all the way round?

A

Halfway up it goes to the steel sheets but brick for the majority of the warehouse

112
Q

CS: What if it had been the profile steel sheets that come down, where would you measure to then?

A

Measure to the frame

113
Q

CS: Which was your best comp / transaction and why?

A

Unit H because it was on the same estate and of the most comparable size, date of transaction and specification

114
Q

CS: Unit H was let at £14.75 psf and you put your ERV as £15.00 psf - why?

A

Quantum

115
Q

CS: Was there a disclaimer clause on your brochure?

A

There was

116
Q

CS: What does a disclaimer clause say? Whats the wording?

A

All descriptions, dimensions, and references to condition, pricing, and other property details are believed to be accurate but should not be relied upon and must be verified by any interested parties. Subject to contract

117
Q

CS: Did you put a board up on the property?

A

We put a board to the front of the estate

118
Q

CS: What does the rules allow you to do?

A

One board to be displayed per property unless its on a corner site, in which case one per side is allowed.
Board must be removed within 14 days of the property being sold, let or withdrawn from the market

119
Q

CS: What are the size restrictions on the boards?

A

Maximum size is 2 sq.m for individual boards and must not be displayed higher than 4.6 metres above ground level

120
Q

CS: Can you illuminate your board?

A

No

121
Q

CS: When you set the website up online did you set up your own website or did you use your own properietry software?

A
122
Q

CS: Whats the cost of setting up your own website?

A
123
Q

CS: Is that indefinetley? Whats the timescales?

A
124
Q

CS: If you sent out a brochure and there was a mistake on the brochure you’d sent out, what would you do?

A

Update everything online, make a comment on the listing that the problem has been updated, and then anyone that enquires make sure they have the up to date brochure

125
Q

CS: How does everyone else know the brochure is wrong if its been sent out publicly and you don’t know who has downloaded it?

A

Amend the brochure and disclaim online

126
Q

CS: Anything else you should do? How does the law suggest you should deal with it?

A

when someone enquiries check they have the up to date brochure

127
Q

CS: You mention the Elizabeth Line in the brochure and website. If the unit is attracting local occupiers why do you need the Elizabeth Line?

A

Because some staff may be getting the train into work and this is a benefit for it being so close

128
Q

CS: Is your lease or proposed lease fully alienable?

A

It was to assign whole not part, and sublet whole

129
Q

CS: Did you put any conditions against the assignment clause at all when you reviewed your HOTs?

A

AGA & not to be unreasonably witheld or delayed

130
Q

CS: Who was going to draft the Schedule of Condition

A

The building surveyor

131
Q

CS: Tenant draws it up and then what does he do with it?

A

I would check it first and then send to solicitors

132
Q

CS: Why did you give the prospective tenant 6 months half rent?

A

We gave it to them as an incentive to take a 5Y straight term. The 3 months rent (6 months half) was suggested from the letting at Unit H

133
Q

CS: Can you demonstrate how you used Rule 4 RoC in this job?

A

Respect, diversity and inclusion.
Pregnant / older people

134
Q

Inspection: Mention Surveying Safely, what is the safe person concept in Surveying Safely?

A

Guidance which refers to an approach where the individuals takes responsibility for their own safety and the safety of others.

  1. Personal Responsibility
  2. Risk Awareness
  3. Training and Competence
  4. Use of PPE
  5. Dynamic Risk Assessment
  6. Communication and Reporting
  7. Compliance with Legal and Professional Standards
135
Q

Inspection: Keeping yourself safe is one example of the safe person concept but there’s another set of people who have obligations under the safe person concept, who are they?

A

Employer

136
Q

Inspection: What are the four main duties that your employer owes you?

A
  1. To provide a safe work environment
  2. Provide training and information
  3. Provide adequate equipment and PPE
  4. Ensure Health, Safety and Welfare
137
Q

Inspection: When you carry out a pre-site risk assessment how do you do that? What does it include?

A

We have a standard pre-site risk assessment we fill out before we visit. This includes property, visit date, people accompanying, people meeting, whether the property is vacant at the time of inspection etc

138
Q

Inspection: What happens if for example if you know that there is asbestos in the building. What precautions would you take when you go down on site?

A

Dynamic risk assessment - concentrate when on site

139
Q

Inspection: Say you came into contact with asbestos when you were on site, what would you do?

A

Remove myself from the situation, go outside, ask someone to bring me a spare pair of clothes, change and then throw clothes away. Put a sign on the door saying dont enter asbestos

140
Q

Inspection: How would you get the change of clothes?

A

Ask someone to bring the clothes to me, from the office or someone at home etc

141
Q

Inspection: What would you do with the clothes you wwre wearing

A

Throw them away

142
Q

Inspection: Notice on the door to say dont enter?

A

Yes

143
Q

Rent Review / Inspection: Going to the rent review in Reading you say you went down to site and noted down the building, what was the specification of the property?

A

It was a 1970’s end terrace unit of steel portal frame. first floor office accommodation with a level loading door and demised parking outside the unit

144
Q

When was it built?

A

1970’s

145
Q

If a warehouse had been built in the 1970’s there is sometimes an issue with those types of buildings, what is it?

A

Composite panels

Where they would make sandwiches out of steel sheets with foam in between. If the foam caught fire then the building would go up in flames and is therefore uninsurable

146
Q

Standard roof light percentage?

A

10%

147
Q

Why dont we push it up to 20-30% so we use less lights in the unit

A

Because of the solar gain. You would then need to put cooling systems in place for the summer when much hotter

148
Q

Two issues when you look at the property are damp and crack, do we classify cracks?

A

Yes you do, then can be categorized by 0,1 and 2.

0 - Hairline Cracks (less than 0.1mm
1 - Very Slight Cracks (up to 1mm)
2 - Slight cracks (up to 5mm)
3 - Moderate cracks (up to 15mm)
4 - Severe crack (15mm to 25mm)
5 - Very Servere Cracks (greater than 25mm)

149
Q

Where do I get that classification chart from?

A

BRE website

150
Q

If you had a crack of 5mm would you regard that as poor, medium, servere or very severe?

A

Poor to medium

151
Q

What does the design guide say you might have to do to the property?

A

minor filling may be required with regular monitoring. Larger than 5mm would require repair and you would need to evaluate ongoing movement

152
Q

Measurement: Lease renewal in oxford, measured on an NIA basis, what were you keen to find out would not be included in your measured area?

A
153
Q

Measurement: Was this a multi-let building?

A

No - it was let by one tenant

154
Q

Measurement: 1.5 metres headline, why are we doing that? why is it 1.5 metres?

A
155
Q

Measurement: Explain what you do with heated or cooling units when emasureing on an NIA basis?

A
156
Q

Valuation: What does the Red Book say about the guidance of your valuation whether its a single unit or 30 assets?

A
157
Q

Valuation: Does the approach change if you’re valuing a single unit or 30 assets? What does the Red Book guidelines say?

A
158
Q

Valuation: What do you understand by equitable value?

A

The estimated price for the transfer of an asset or liability between identified knowledgeable and willing parties that reflects the respective interests of those parties.

159
Q

Valuation: What do you understand by fair value?

A
160
Q

Valuation: What do you understand by market value?

A

The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and willing seller in an arm’s length transaction.
After property marketing wherein the parties has each acted knowledgeably prudently and without compulsion

161
Q

Valuation: All your tenancies on the valuation are inside the act, what does that mean?

A
162
Q

Valuation: What does it entitle them to then?

A
163
Q

Valuation: How would you take that into account when doing your valuation?

A
164
Q

Valuation: How many units were there on the retail parade?

A
165
Q

Valuation: Were you valuing one unit or multiple?

A
166
Q

Valuation: Was it rack ranted, reversionary, over rented?

A
167
Q

Valuation: What method did you use?

A
168
Q

Valuation: Where does the void come in?

A
169
Q

Valuation: When you valued it did you use the equivalent yield?

A
170
Q

Valuation: Could you have used the equivalent yield to value?

A
171
Q

Valuation: What is the equivalent yield?

A
172
Q

Data Management: What are the six data principles?

A
  1. Security
  2. Transparency
  3. Accuracy
  4. Consistency
  5. Ethics
  6. Accountability
173
Q

Data Management: One says only hold data as long as its neccessary, what does that mean?

A

If the data is held for a specific reason, ie an enquiry on an available unit then it can be kept until necessary (for example then removing data once the property is let)

174
Q

Data Management: Do you think that its legal to keep their data until neccessary?

A

Yes

175
Q

How did you constrict the data base to deal with the budget rents

A

We had a password protected excel sheet where the client and our team were privy to the password.

176
Q

Data Management: What columns do you have in your spreadsheet in the budget rents?

A

We had the floor areas, the lease event date, then the current passing rent and the forecasted rent along with three key transactions to come to the ERV

177
Q

Data Management: So this is a data base of someones portfolio

A

Yes

178
Q

Data Management: The projected rent you put in is that on a headline or net effective basis?

A

On a headline

179
Q

Data Management: How do you calculate the net effective rent?

A

Take the total months over the term, minus the rent free months, then divide this by the total months term, which is then timsed by the rate psf and floor areas to give you a net effective rent.

180
Q

Data Management: You said in your example you would take off 3 months rent free. What if the transaction was 8 months rent free, what would you do then?

A

3 months would be taken off to consider fit out and the rest would be considered incentive.

181
Q

Data Management: Is there another way you could figure out the net effective?

A
182
Q

Landlord & Tenant: How do you know a lease is contracted out the 1954 Act?

A

It will be signed at the bottom of the lease by both parties.

183
Q

Landlord & Tenant: What process do the parties go to to contract the lease outside the act?

A

The tenant will be provided with a health warning of what it means to be outside the act and then there are two ways to document: Simple notice and statutory notice

184
Q

Landlord & Tenant: Whats the difference between a lease and a license

A

Exclusive possession
A lease is a fixed term unless there is a break option whereas a licence you can terminate on short notice.

185
Q

Landlord & Tenant: Any case law in relation to Lease v Licence?

A

Street V Mountford

186
Q

Landlord & Tenant: How did the landlord start the rent review off?

A

By serving a rent review notice with the initial rent

187
Q

Landlord & Tenant: How do you know if time is of the essence?

A
  1. If it states it in the lease
  2. If linked to a break
  3. If there’s a deeming provision (ie. tenant must serve a counter notice by x date)
188
Q

Landlord & Tenant: If the parties couldnt agree the rent what did the rent review provisions provide for?

A

This example was for an arbitrator

189
Q

Landlord & Tenant: Whats the difference between an arbitrator and independent expert?

A

An arbitrator uses evidence provided by both parties whereas an independent expert would use their own evidence. An arbitrator is governed by the Arbitration Act 1996 whereas a Independent Expert is governed by the council. An arbitrator can award all costs whereas an independent expert can only award costs for themselves

190
Q

Landlord & Tenant: How do you serve a s.26 what are the valid ways of doing it?

A

Served by a lawer and sent either by registered post or personal service to the landlord. The landlord then has 2 months to serve a counter notice whether agreeing or oposing to the lease.

191
Q

Landlord & Tenant: If the landlord then came back on your S.26 notice and said they dont want a new lease what would the next step in the chain process be?

A

The landlord would serve a counter listing the grounds under S.30 to opose a new lease

192
Q

Landlord & Tenant: What is S.30?

A

Section 30 is grounds for opposition of a new lease

193
Q

Landlord & Tenant: What are the grounds?

A
194
Q

Landlord & Tenant: Whats the process of the landlord serving on these grounds? Does it have a name?

A

A counter notice. To be served within 2 months of the S26.

195
Q

Landlord & Tenant: How long does the landlord have to serve the counter notice on S.26?

A

2 months

196
Q

Landlord & Tenant: What if you couldn’t get new lease terms agreed?

A

You would go to PACT or County Court

197
Q

Landlord & Tenant: Which court would you go to?

A

County Court

198
Q

Landlord & Tenant: You mentioned PACT, what is PACT?

A

Professional Arbitration on Court Terms

199
Q

Landlord & Tenant: How does PACT work?

A
200
Q

Purchase & Sale: What are the 12 core ethical standards of Real Estate Agency and Brokerage Edition 2016?

A
  1. Act with Integrity
  2. Provide a High Standard of Service
  3. Act in a way that promotes trust in the profession
  4. Treat Others with Respect
  5. Take responsibility
  6. Be honest and transparent in all financial dealings
  7. Be clear about fees and charges
  8. Ensure that all communications are fair, clear and timely
  9. Disclose conflicts of interest
  10. Ensure that terms of business are fair and clear
  11. Manage client’s money responsibly
  12. Maintain Proper Records of Work
201
Q

Purchase & Sale: In Henley, what method of sale did you recommend?

A

We initially went with private treaty

202
Q

Purchase & Sale: Why did you Private Treaty?

A

Because it was a single building where we were unsure what demand we would get so went with this option initially

203
Q

Purchase & Sale: Why didnt you do an informal tender?

A

We did do an informal tender after 2 weeks as we had a generous amount of interest

204
Q

Purchase & Sale: Why did you not go straight to informal tender?

A

We waited to see what interest we had first

205
Q

Purchase & Sale: Why did you not go more than one round of informal tender?

A

We didnt need to. The client picked a party they wanted to proceed with in the first round

206
Q

Market Appraisal: What goes in to a market appraisal report?

A

Property details, specification, floor plans and areas, availability, transactions, market commentary, ERV

207
Q

Diversity, Inclusion:
You say you value the work / relationship between the team lines, what does that mean?

A

I value how effective it is to have good relationships with the different service lines and how it can make us stronger and more united

208
Q

Diversity, Inclusion: Do you use that team working to cross sell at all? How do you do that?

A

Yes, (provide example of Amazon)

209
Q

Diveristy: What about the female / male balance in the area youve been working how have you found that?

A
210
Q

Diversity: How do you create that inclusive environment if you work with many men?

A
211
Q

Ethics: How do you carry out a conflict of interest check?

A
212
Q

Ethics: If you were carrying out a conflict check for a valuation instruction and it comes up you did the property 13 months ago, would you see that as a conflict?

A
213
Q

Ethics: If you set up your own company, what would you have to put in place in terms of PI cover?

A
214
Q

Ethics: When you pass you have to do CPD, what do you have to do for the rest of this year?

A

APC - Autumn 2024 (9 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions