Lists To Learn Flashcards
Minimum level of indemnity based on turnout?
- insurance of 250k (100k or less TO)
- insurance of 500k (100k-200k TO)
- insurance of 1m (over 200k)
rules of conduct?
Hi
C
Qs
R
Pi
Stamp duty figures?
Up to 150k = zero
150k - 250k = 2%
Anything above 250k = 5%
Data protection act 2018 vs GDPR?
- data protection act is uk law and supplements GDPR
- GDPR implemented by EU. Gives controls over personal data being stored, collected and processed by firms
4% of global turnover max at 20 mil euros
Rent review procedure?
- Take instruction from client. Check COI, confirm fee in writing and make sure you’re competent.
- Request legal pack : lease, license for alterations, planning etc
- Read lease, check time of essence, look at rent review clause, assumptions/disregards
- Undertake inspection (rics guide to surveying safely) and measure
- Get comparables to undertake market rent.
- Provide written recommendation to client
- Serve notice on LL / T
- Negotiate
- Arbitration/independent expert
- Calderbank?
- Agreement - signed rent review memorandum
Hypothetical term?
- it is the term to be valued in the rent review clause
- the unexpired residue of the lease
(Longer better for T as lower rent
Short better for LL as higher rent)
Standard assumptions?
- Fit for immediate occupation
- The property is available on the OM by a willing LL to willing T at the market rent
- The obligations under the lease have been complied with
- The property may be used for any purpose permitted in the lease
Principles of data protection (GDPR)
- Lawfulness, fairness, transparency
- Purpose limitation
- Data minimisation
- Accuracy
- Storage limitation
- Integrity and confidentiality
- Accountability
Statutory demand?
A statutory demand is a formal written demand for payment for a genuine and valid debt that it owed to a creditor. Payment must be made within 21 days.
A winding up procedure to court
Aggressive
T has 21 days to pay arrears
Used for debts more than £750 company
£5,000 for an individual
What are the exemptions of MEES?
- new tenant has come in through assignment, subletting or forfeiture
-Devaluation / independent surveyor determines that the relevant energy efficiency improvements that could be made to the property are likely to reduce the market value of the property by more than 5%.
- third party consent / tenant, a superior landlord or planning authorities has been refused or has been given with conditions with which the landlord cannot reasonably comply.
DCF?
a valuation model that seeks to determine the value of real estate investment property by examining its future net income or projected cash flow from the investment and then discounting that cash flow to arrive at an estimated current value of the investment
Landlord and tenant act 1927?
- section 18 (tenants repairing obligations “diminishion of value”)
- section 19 (unreasonably withheld assignment)
Protected characteristics?
- age
- disability
- gender reassignment
- marriage or civil
- pregnancy
- race
- religion
- sex
- sex orientation
What’s the difference of Gross profit and net profit?
Gross profit =total revenue - cost of goods
Net profit =total revenue - cost of good, operating expenses and tax
Bribery act 2010?
4 offences
- bribing
- receiving a bribe
- bribing a foreign official
- failing to prevent a bribe
6 principles
- proportionality
- top level commitment
- risk assessment
- due diligence
- communication
- monitoring and review
Unlimited fine and/or sentence up to 10 years
