General Flashcards
What was the terms of the payment plan?
9x payments of £693.15 + VAT, starting December 1st ending 1st August
How is the footfall calculated, do you know of any other footfall tracking services?
Footfall is calculated by tracking how many pass the gateline (which is the barriers).
MRI On Location Footfall Analytics
How is the footfall / rent alignment calculated?
So we use pre-covid gateline figures as a benchmark. Then whatever the gateline figure was for that month as a percentage of the pre-covid is the proportion of rent that is due. So at Lewes in April, the gateline figures were 53% in comparison to post covid. So the tenant was required to pay 53% of his monthly rent.
How did you carry out the AML Check?
- Check Workman AML Statement – required as RICS regulated firm to carry out Know your client (KYC) or customer due diligence (CDD) checks
- Also involves seeing identifying Politically Exposed Persons (PEPs), Person of Significant Control (PSCs) and any potential breaches of sanctions
- Any queries to Group company Secretary who acts as Money Laundering Reporting Officer (MLRO) – Nick Kemp
RICS professional standard: Countering bribery, corruption, money laundering and terrorist
Financing (2019)
How did you carry out the COI check?
- Partner is to check internal database to check there is any records
- Partner will inform client if there is conflict/no conflict
- If no conflict proceed
- If conflict, notify both parties and only proceed with informed consent and manage conflict in agreed way
RICS Professional Standard- Conflicts of Interest (2017), re-issued in July 2023 as a standard
What RICS Regulation applies to COI and AML respectively?
COI - RICS Professional Standard- Conflicts of Interest (2017), re-issued in July 2023 as a standard
AML - RICS professional standard: Countering bribery, corruption, money laundering and terrorist
Financing (2019)
What year was the property built?
1868
What common defects do you find with these properties?
- Subsidence
- The slate roof could experience slipping or broken slates, leading to water ingress
- Spalling in brickwork
Why NIA and not IPMS3?
Because all the other units are measured in NIA and there is no comparable evidence for a IPMS 3 measurement
What are inclusions/exclusions were made in NIA?
Inclusions
- areas occupied by air conditioning
- skirting boards
- Cupboards
- Lift lobbies
Exclusions
- Toilet
- Plant room
- Stairwells
- Areas less than 0.25m and headroom’s less than 1.5m
What is the total area of the station, and what basis was it measured on?
- 9,450sqft on GEA
- Why GEA? Measurement given by client for all stations
- GEA includes the entire footprint of the building, considering all internal and external walls, and is typically used for measuring industrial, transport, and infrastructure facilities.
What use class does this fall under & what act do use classes fall under? What’s the latest update?
- Class E
- Town and Country Planning (Use Classes) Order 1987
- Last update 1st September 2020
When did rent commence?
Start of lease 4th April 2019
How was the lease contracted outside the 54 Act?
Regulatory reform order 2003 simplified the process so that it rarely requires a court influence
→ Landlord serves health warning stating consequences of contracting out
→ Simple declaration if Tenant 14+ days before start of less
→ Statutory declaration if less than 14 days before start of lease
Was the rent reviewed?
- Nil uplift
