LV3 PM (PE) Flashcards
How have you advised on the preparation and presentation of reports relating to property management? (LV3)
How have you carried out all relevant statutory requirements or other responsibilities, in the case of larger portfolios of the property? (LV3)
How have you provided strategic advice on property management matters and provided recommendations on the options available for the property? (LV3)
How have you dealt with disputes?(LV3)
How have you provided advice as to alternative dispute resolution options in the event of the breakdown of negotiations? (LV3)
What necessary actions have you taken to protect your client’s position? (LV3)
Why did you advise your client that reinstatement must be included in the retrospective licence to alter in Milton Keynes? (LV3)
What risks did you advise your client of as regards the use of the unit for vehicle inspections? (LV3)
What fees were associated with the licence for alter in MK? (LV3)
What did you advise your client regarding the costs of initially instaling the CCTV cameras in coventry? (LV3)
Talk me through how you put together the initial service charge budget? How did you determine appropriate entries for each cost heading at MK? (LV3)
How did you explain to your client their responsibility for service charge of the vacant units? (LV3)
If the development had been constructed in phases, how would you have advised your client regarding the service charge? (LV3)
Tell me about a contract you have set up with an external service provider? (LV2)
Tell me about a reactive/proactive management plan you have set up (LV2)
What legislation/guidance have you complied with in setting up a reactive/proactive management plan?(LV2)
Tell me about a challenge you have faced and how you overcome it? (LV2)
In Kentish Town how did you determine an appropriate payment plan? (LV2)
If the tenant had failed to make payment with the payment plan, how would you have proceeded? (LV2)
How did you document the payment plan in Kentish Town? (LV2)
What options exist in relation to the recovery of unpaid service charge? (LV2)
What recourse was open to your client at Fairford if a retrospective licence had not been agreed? (LV2)
Why did you use a building surveyor to review the plans at Fairford? (LV2)
How did you approach discussions with the Tenant to alert them to the unlicenced works at Fairford? (LV2)
Tell me about your responsibilities for occupied/vacant buildings/communal areas
What is the Occupiers Liability Act 1957/1984 - how do these impact upon your role?
Tell me about the RICS guidance on Service Charges/Real Estate Management/Commercial Property Mangament
Are you aware of any additional RICS guidance on Service Charges?
Tell me about the relationship between alienation/alterations/repair/payment of rent and service charge on property management
What is the rule of privity of contract?
What is the difference between an absolute/qualified/fully qualified covenant?
What is the statutory duty placed on landlords under the L&T Act 1927/1988?
What remedies are available to landlords for breach of repairs?
What are the remedies for rent default?
What are main rent arrears recovery options for landlords?
What are the various forms of corporate insolvency?
Talk me through your understanding of the Corporate Manslaughter and Coporate Homicide Act 2007
What are your duties under the Corporate Manslaughter and Corporate Homicide Act 2007
What are the offences and penalties under the Act?
How would you hand over a service charge account upon sale or change of manager? What information would be required?
Tell me about any RICS guidance you are aware of relating to licences for alterations.
What is the process of considering a tenant’s application to alter?
Why is important to handle applications properly?
What protection does a licence to alter provide?
How should an application be submitted?
What is a cost undertaking?
What information should be provided with the application?
What would you look for in the lease if you received an application?
What are improvements under the LTA 1927? How does this impact upon landlord’s consent?
What is an improvement (LTA 1927)? What does not to be unreasonably withheld mean? What does not to be unreasonably withheld and delayed mean?
What happens if superior landlord’s consent is required? How would you deal with this scenario to avoid delays? What are your duties in relation to timings / reasonableness? Is there any case law relating to these?
How would you consider the nature of the works?
What does S3 of the LTA 1927 relate to?
What would happen if you discovered unlicensed works on review or assignment?
How would you consider the impact of proposed alterations on building operations?
What is a warranty?
What are reinstatement provisions?
How do dilapidations relate to alterations?
How does the Equality Act 2010 relate to alterations?
What H&S considerations relate to alterations?
How does MEES relate to alterations and your reasoned advice?
What levels of approval decision are there? If consent is refused, what remedies does a tenant have?
What levels of approval decision are there?
If consent is refused, what remedies does a tenant have?
Can consent be granted retrospectively?
How do you document consent?
What is a final inspection and why would you carry one out?
Following alterations, can you and how would you adjust a service charge?
What is TUPE?
What is the purpose of TPE?
How might TUPE relate to property management?
What are the effects of TUPE?
What is a duty of care deed?
Why is a duty of care deed often required?
What is included within a duty of care deed?
What would you do if you were asked to sign one?
What are 3 of the key principles in RICS Commercial Property Management in England
and Wales?
What are some of the core duties of a property manager?
What are some of the key obligations associated with the collection of monies?
What would you do if an occupier defaulted on payments?
How would you deal with rental deposit deeds?
What is a key principle for good property management?
Tell me about the usual insurance requirements for a landlord.
How can you pass on the costs of insurance to tenants?
What are the issues associated with lack of insurance?
How do you ensure that insurance cover is appropriate?
What is public liability insurance?
Why is it important?
What is public liability insurance?
Why is it important?
Tell me about the role of property managers in relation to energy management.
What is a BMS?
As a property manager, what are your H&S / fire safety obligations?
Tell me about third party supplier procurement in relation to your property
management role.
Are there any specific issues relating to management of a property portfolio in your
role?
How do you ensure good management of mixed use developments? Does the RICS provide any relevant guidance on this?
Under the Occupiers Liability Act 1954, what happens if an injury was caused to a
visitor due to the faulty work of a third party?
How can you satisfy your duty of care to persons other than visitors under the
Occupiers Liability Act 1984?
Tell me about a key point of the Management of H&S at Work Regulations 1999 /
Control of Substances Hazardous to Health Regulations 2002 / Water Supply
Regulations 1999 / Electricity at Work Regulations 1989 / Defective Premises Act 1972
/ Regulatory Reform (Fire Safety) Order 2005 / Gas Safety Regulations 1998 / CDM
Regulations.
What are the two tests for corporate insolvency?
What are the consequences of insolvency?
Tell me about an insolvency procedure.
What is administration/administrative receivership/CVA/liquidation?
How do these differ?
How would you deal with property management in the case of tenant insolvency?
Can you pursue unpaid sums from an insolvent tenant?
What are 3 of the key principles of RICS Real Estate Management?
What is CSR?
What are the requirements under the RICS REM guidance for rent demands/rent
arrears?
What is PPM? Why is it beneficial?
What is the difference between an insured and uninsured risk? Give examples of both.
What advice would you give close to the end of a lease?
What types of dilapidations claims are there?
What is a S18 valuation? Why would one be used?
How do empty rates affect property managers?
How can you protect the security of client’s money?
What requirements do RICS place on firms holding client’s money?
What is the RICS Money Protection Scheme?
What is an annual return?
What is a regulatory review?
What happens if you have surplus money in a client account that is not claimed after 6
years?
What is a key issue relating to holding client’s money?
What is a reconciliation?
What controls should be in place relating to holding client’s money?
When was RICS Service Charge guidance last updated?
What is a SC?
Where is the SC arrangement set out?
What does a SC usually include/exclude?
How does the PS differ to the former SC code?
What iteration of the SC guidance is the current PS?
When does the new PS apply from?
Who pays the SC?
What are the aims of the PS?
What are some of the core principles of the PS?
What is a limitation of the PS?
Can it override a lease?
Tell me about an element of PS best practice.
What do chapters 4 and 4 of the PS relate to?
What do the appendices in the PS provide?
What are the timeframes for reporting within the PS?
What is value for money and how can you ensure it?
What is transparency? How can you ensure it?
What is a budget?
What is a year end statement?
What is a management fee and what does the PS say about them?
What is your duty of care in relation to SC?
What is standardised financial reporting?
How should interest be dealt with?
How does ADR relate to SC under the PS?
Tell me about
allocation/apportionments/certification/communication/consultation/financial
competence/occupier responsibilities/right to challenge under the PS.
What are the options for recovering rent arrears?
What is a rent deposit drawdown?
What is a payment agreement?
What is forfeiture?
Where would you find out if you can forfeit a lease or not?
How can you effect forfeiture?
When can you forfeit a lease?
What is a waiver?
What amounts to a waiver?
What is a S146 notice?
What is a remediable breach?
What timeframes relate to S146 notices?
What is the difference between a continuing and once and for all breach?
What does the Leasehold Property (Repairs) Act 1938 say about breaches of covenants
to repair?
What should you consider prior to forfeiture?
What is a Jervis v Harris clause?
How can you avoid recognising the continuance of a lease?
How can you avoid recognising the continuance of a lease?
What is peaceable re-entry?
What is a bailiff?
What are court proceedings for seeking possession?
When could these methods be used? What are the pros/cons of these methods?
How can you pursue a former guarantor?
Under what legislation can you do this?
What notices must be served and what are the relevant timescales?
What is CRAR?
When did it come into force?
What did it replace and how does it differ?
What are the requirements of CRAR?
When can CRAR not be used?
What goods can be seized and by whom?
Can the tenant appeal?
What are court proceedings and how can they be used to recover debts?
What happens if a tenant is insolvent?
What is a statutory demand?
What is a winding up petition?
When can one be used and for what sums?
What is the difference between a sinking and a reserve fund?
What is a financial bond?
Explain the provisions of the Commercial Rent (Coronavirus) Act 2022.
What did this introduce in terms of resolving Covid-related rent arrears?
What precedent was set in the Criterion Buildings Ltd v McKinsey & Company Inc (UK)
& Anor case relating to service charges?
