General Flashcards
What are the different purposes of an inspection?
- Acquisition / loan security
- Property Management
- Agency
- Rating
What is the importance of an inspection?
- Forms the basis of accurate advice to the client in relation to factors that have an impact on the valuation, or to identify any tenant breaches.
What drive the information to be collected on an inspection?
The purpose of the inspection.
How do your inspections differ for different purposes?
If I am inspecting for a valuation, I would consider factors that would have an impact on the valuation such as location, construction, dimensions and layout.
On the other hand if I am inspecting for property management purposes, my main objective is to ensure there is no disrepair at the property and the tenant has complied with the lease terms.
What are the different methods of an inspection?
- Desktop
- Inspecting local area
- Internal Inspection
- External Inspection
What is the importance of a checklist? How does it help you?
It provides general considerations to be aware of when inspecting and establishes a logical basis for gathering data.
What things would you include on a checklist?
- Characteristics of the location and surrounding area
- Characteristics of the property (Dimensions
- Characteristics of the site
- Development potential
- Tenant breaches
- Statutory issues such as health and safety, fire safety and asbestos
How do you decide the appropriate extent of an inspection?
Client requirements and what is professionally adequate for the purpose of the inspection
How do you prepare prior to your inspections?
- Undertake a desktop inspection so I know where I am going and what’s within the vicinity.
- Arrange for access / obtain details on who I am meeting.
- Check asbestos register / details of other potential hazards
- Ascertain what tools / PPE is required.
- Inform colleagues where I am going, record on signing in and out board and ensure phone has sufficient charge.
What is your employers lone working policy?
Record details of where I am going in my outlook calendar and state on the signing in and out board what time I will be back.
With more hazardous inspections, I will ask a colleague to assist me on the inspection.
What tools would you take with you on an inspection?
- Phone
- Checklist
- Note pad
- Camera
- Tape measure / laser / trundle wheel
What PPE would you take on an inspection?
- Hard hat
- Steel toe cap boots
- Hi-Vis
What things should you consider when undertaking an external inspection?
- Construction / Specification
- State of repair
- Car parking / access arrangements
- Site boundaries
What things should you consider when undertaking an internal inspection?
- Layout / specification
- State of repair
- Services
- Fixtures / fittings and improvements
- Statutory compliance with regard to health and safety, fire safety, planning and asbestos
- Compliance with lease obligations
What are you looking for on an inspection?
Valuation influence factors, such as;
- Location
- Construction
- Specification
- Layout
- State of repair
- Tenure
- Lease compliance
