Measurement Flashcards
What Professional Statement did the RICS release to incorporate the International Property Measurement Standards?
RICS Property Measurement, 2018
What was the aim of RICS Property Measurement, 2018?
Establish consistencies in property measurement to be adopted by governments and industry on a global basis.
Which IPMS measuring practices were adopted in RICS Property Measurement, 2018?
Offices and residential properties
What are RICS members encouraged to do until IPMS becomes embedded into market practice?
Report on a dual basis
What are the benefits of IPMS?
Measurement variations currently sit at 24% causing inconsistency
Increased transparency
Consistent language for measurement worldwide
Reduces risks, facilitating international trade property
Easier property portfolio benchmarking
Greater credibility for valuation worldwide
When are RICS planning on implementing IPMS: Industrial Buildings 2018 and IPMS: Retail Buildings 2019?
No date has yet been given by the RICS
For what types of property is adoption of IPMS mandatory?
When reporting on residential and office space, unless the client provides a written instruction to use an alternative
What are the general principles of RICS Property Measurement, 2018?
- Advise clients of the benefits of using IPMS
- Document the reason for not using IPMS
- Must provide a date when the measurements are undertaken
- State the measuring methodology adopted
- Provide the reference and scale of any plans used
- State the conversion factor from metric / imperial and any rounding
- Measurements and calculations must be clearly documented
When did Property Measurement 2018 become effective?
1st May 2018
When is IPMS 1 - Offices used? What method of measurement does it most closely correspond to?
Planning or building cost purposes
GEA
When is IPMS 2 - Offices used? What method of measurement does it most closely correspond to?
Agency and valuation purposes
GIA
When is IPMS 3 - Offices used? What method of measurement does it most closely correspond to?
Agency and valuation purposes
NIA
What does IPMS 1 - Offices include and exclude?
- Used for measuring the area of a building including external walls.
- The sum of the areas measured to the outer perimeter.
- Reported on a floor-by-floor basis.
Include but state separately:
* Covered galleries (Internal balcony)
* Balconies (External structure)
* Generally accessible roof terraces
Exclude:
* Open light wells & upper level atrium (Lloyds Insurance building)
* External stairways (New York Stairs)
* Patios / decks / external car parking / yards / refuse / cooling equipment
What does IPMS 2 - Offices include and exclude?
- The sum of the areas of each floor level of an office building measured to the internal dominant face.
- Used for measuring the interior area and categorising the use of space in an office building.
- Provides data on the efficient use of space on a component by component basis.
- Measured to the Internal Dominant Face > 50%
Include but state separately:
* Covered galleries (Internal balcony)
* Balconies (External Structure)
* Generally accessible roof terraces
Exclude:
* Open light wells & upper level atrium (Lloyds Insurance building)
* External stairways (New York Stairs)
* Patios / decks / external car parking / yards / refuse / cooling equipment
What does IPMS 3 - Offices include and exclude?
- The floor area available on an exclusive basis to an occupier
- Excludes standard facilities and shared circulation areas
- Calculated on an occupier-by-occupier or floor-by-floor basis for each building
- Measured to the Internal Dominant Face > 50%
*Where there is a common wall - measure to the centre-line of the common wall – For IPMS the floor area is taken from the midpoint
Include but state separately:
* Covered galleries (Internal balcony)
* Balconies (External Structure)
* Generally accessible roof terraces
* Measured on an exclusive basis to their inner face and stated separately
Exclude:
* Open light wells & upper level atrium (Lloyds Insurance building)
* External stairways (New York Stairs)
* Patios / decks / external car parking / yards / refuse / cooling equipment
* Standard facilities or common facilities - stairs, escalators, lifts/elevators and motor rooms, toilets, cleaners’ cupboards, plant rooms, fire refuge areas and maintenance rooms
What is the definition of the Internal Dominant Face?
Inside finished surface comprising more than 50% of the floor to ceiling height for each IDF wall section
What are the differences between IPMS 3 and NIA?
IPMS:
* Perimeter measurements are taken to the ‘Internal Dominant Face’
* Area occupied by the reveals of a window when measured and assessed as the IDF are included
* Areas with restricted height of less than 1.5m are included
* All columns are included
* On floors with multiple occupants, the area from the midpoint of the partition wall is included
* Covered galleries and balconies for the exclusive use of one tenant are included and stated separately
What are the THREE IPMS standards for measuring residential buildings?
- IPMS 1 - Residential: External
- IPMS 2 - Residential (Internal): Internal area of the building
- IPMS 3 - Residential (Occupier): the occupation of the building on an exclusive basis to an occupier