Exam prep Flashcards
What year was the Unit Title Act established?
2010
What was the purpose of the Unit Titles Act?
To provide a modern legal framework for the joint ownership and management of land, buildings and common space for all owners.
What are some of the Key features of the Unit Titles Act?
- Formed body corporate
- Long term maintenance fund must be set up
- Responsibility of the body corporate to maintain common space.
ADLS 6th ed. Agreement to lease is?
An agreement between two parties (the lessor and lessee) for the premise outlined in the first schedule and for the site and price negotiated in the first schedule. The document agrees the transfer of rights.
First schedule includes aspects such as?
Rent determined, car parks and prices, the premise being leased, and the rent determined.
Second schedule includes aspects such as?
Rent, rent review, ratchet clauses, ect.
Tenant responsibilities
landlord responsibilities
Third schedule includes aspects such as?
Guarantee / Guaruntor
Fourth schedule includes aspects such as?
Landlords fixtures / fittings
Fifth schedule includes aspects such as?
Premises condition report.
The construction contracts act was established in which year?
2002
What are some of the key features of the Construction and Contracts Act?
- established a fear means of utilizing progress payments
- applies to all commercial and residential contracts
- payer / owner is allowed 20 days to pay
- contractor can stop working if not paid
What are the key sections of The Building Act?
Sections 122, and 124
Section 122 - A building is earthquake prone if during a moderate EQ the building would a. exceed its maximum capacit b. would collapse
Section 124 -Dangerous, affected, earthquake-prone, or insanitary buildings: powers of territorial authority. The local authority has the right to fence and sign the building with appropriate wanings
The Building Act was established in what year?
2004
What is the purpose of the Building Act ?
To control and develop better practices in building design and construction.
- code of compliance certificate CCC
- Building wof
- licencing for building practitioners
- 33% nbs
- IQP can now be owner in most situations
Resource Management Act was established in what year?
2005
Purposes of RMA?
encourages and monitors best practices for environment. Ensures environment doesn’t suffer
What does a PM need to be aware of in terms of the RMA?
- certificate of compliance (CoC)
- aware of permitted activity
- if activity changes it must meet requirements of RMA
MAG stands for?
Minimum Annual Guaranteed Rental
Stewardship is?
- A PM acting on behalf
- Honesty and transparency
- identifying conflicts of interest
What year was the Property Law Act established?
2007
What are the key features of the Property Law Act?
- all transactions must be in writing
- short lease, ie less than one year written / oral
- termination of lease in a future event
- assignments of lease / subletting
What shopping centre feasibility model analyses potential sales per person per capita and the existing market share of a catchment area?
The Unsatisfied sales potential model.
what is the IPENZ?
Institute of professional engineers NZ
Two appraisal, risk, and uncertainty models are?
- Risk / return
2. Affordable Land price
S Curve analysis is?
An important tool for managing a project and being able to visualize progress, PM can identify project growth and identify areas which need action
