Measurement Flashcards
What is RICS Property Measurement?
2018 Professional Statement - incorporates IPMS
What are IPMS?
International Property Measurement Standards - aim is to standardise measurement practice worldwide to compare markets and facilitate global transactions more effectively.
What should you do if a client asks you to depart from IPMS?
Document the client’s instruction and their reasoning.
What is IPMS 1?
Similar to GEA - ‘the areas of each floor level of a Building measured to the outer perimeter of external construction features’
When would IPMS 1 be used?
Often for planning.
What is IPMS 2?
Similar to GIA - ‘the sum of the areas of each floor level of an office Building measured to the Internal Dominant Face and reported on a Component-by-Component basis for each floor of a Building.’
When would IPMS 2 be used?
IPMS 2 - Office. Used for data purposes.
What is IPMS 3?
“measuring the occupation of floor areas in exclusive use”. Similar to NIA.
When might IPMS 3 be used?
Agency work.
What measurement standard would you use for service charge calculation?
IPMS 3.
When are industrial and retail due to be incorporated into IPMS?
TBC
Name some differences between IPMS 3 and NIA.
Columns included in NIA, no exclusions for less than 1.5m height
What is an Internal Dominant Face?
The internal finish comprising more than 50% of the floor to ceiling height for each IDF Wall Section.
How do you measure industrial property?
GIA - the area of a building measured to the internal face of the perimeter walls at each floor level
What was excluded in your measurement of the shop in Alderley Edge?
Stairwell, WC.
What are the principal definitions of GEA, GIA and NIA?
GEA - the area of a building measured externally at each floor level. GIA - the area of a building measured to the internal face of the perimeter walls at each floor level. NIA - the usable area within a building measured to the internal face of the perimeter walls at each floor level.
What tolerances are there for measurement?
1%
What online mapping tools have you used? How do they work?
Promap - measures according to title number, or you can create custom boundaries.
How does value relate to measurement?
Generally the bigger a property is, the more it is worth overall.
What is zoning?
Measurement technique used to compare retail units with differing frontage:depth rations.
