Measurement Flashcards
What is the aim of the RICS property measurement?
Standardisation of measurement to promote consistency, transparency, trust and confidence in the profession / increase market stability.
What guidance governs measuring practice?
RICS Professional Statement ‘Property Measurement 2nd Edition
Code of Measuring Practice 6th Edition.
The Valuation Office Code of Measuring Practice for Rating Purposes In England & Wales published 1991.
General Principles of RICS PS?
- Prof Statement - Members encouraged to report on dual basis – having regard to client instructions
- Members must advise clients about benefits of IMPS
- Mandatory for RICS members in measurement of offices and residential (unless client specifies otherwise in writing, departure must be documented)
- Must do following:
o Provide date when measurements undertaken
o State measuring methodology adopted
o Provide reference and scale of any plans used
o State conversion factor from metric / imperial and rounding
o Measurements and calculations must be clearly shown
o Retain record of RICS member to certify above - Measurer must state degree of tolerance as percentage – appendix A lists acceptable tolerances
- IPMS recommends all measurements are supported by computer-generated drawings and verified on site
What is the definition of the internal dominant face?
the internal finish comprising more than 50% of the floor-to-ceiling height for each external wall section; if this does not occur the finished surface is deemed to be the IDF.
What are the differences between IPMS 3 and NIA?
IPMS 3 area in exclusive occupation to an occupier, and excludes standard facilities but INCLUDES columns.
o Differences between IPMS3 and NIA:
no exclusions for areas less than 1.5m,
measurements taken to ‘internal dominant face’,
all columns are included, covered galleries and balconies are included but stated separately
measurement is taken from middle of partition
What are the three IPMS standards for measuring residential buildings?
IPMS 1 (similar to GEA) - ‘ sum of the areas of each floor level of a building measured to the outer perimeter of external construction features, which may be reported on a component basis for each foor of a building’
IPMS 2 (similar to GIA) - ‘sum of the areas of each floor level of a residential building measured to the internal dominant face, which may be reported on a component- by-component basis for each oor of a building’
IPMS 3a, b and c - ‘floor area available on an exclusive basis to an occupier’
IPMS3 is split into:
3A (similar to GEA) - ‘external measurement of the area in exclusive occupation’
3B (similar to GIA) - ‘internal measurement including internal walls, etc’
3C (similar to EFA) - ‘internal measurement excluding internal walls, etc’
When would you use GIA as a basis of measurement?
Rating/valuation – measuring industrial buildings, warehouses, retail warehouses etc. (although areas with headroom less than 1.5 excluded for rating purposes)
Building cost estimation -BCIS
The area of a building measured to the internal face of the perimeter walls at each floor level.
What is included in GIA?
Areas occupied by internal walls and partitions, columns, lifts, stairwells. Lift rooms. Corridors of a permanent essential nature. Toilets, cleaners cupboards.
What is excluded in GIA?
Perimeter wall thickness, external open-sided balconies, covered ways, fire escape.
What does NIA include?
The useable floor area within a building measured to the internal face of perimeter walls at each floor level. Includes; areas occupied by non-structural walls, kitchens, notional lift lobbies, areas occupied by skirting and perimeter trunking.
What does NIA exclude?
Iternal structural walls, walls enclosing excluded areas, toilets, cleaner’s cupboards.Areas with headroom of less than 1.5m
What is the shop depth?
measurement from the notional display window to the rear, including thickness of window
When would you use IPMS as a measurement basis?
IPMS is of mandatory application for measuring area of Residential and Office buildings.
Requirement for dual reporting, sole use of CMP should be avoided where IPMS has been adopted by RICS unless client specifies otherwise in writing, but the departure must be documented (in TOE/report).
Why is accuracy important when you measure buildings?
Accurate measurement is fundamental to providing prudent property advice.
It is an essential component of valuation consistency as Market value is invariably a function of floor area for instance when analysing comparable rents and yield.
Even minor inaccuracies in measurement can lead to substantial variations in value, especially in high-value locations.
Explain retail zoning.
It is a method of valuation analysis applied to standard shop units.
Based on principle that retail frontage is considered most valuable and that the value of the accommodation decreases to the occupier the further back in the shop goods are.
Shop unit is split into hypothetical zone depths, usually 6.1m deep.
The area in each zone is calculated – Zone A, B, C and remainder.
Relativities are applied to Zone areas to reflect the relationship of each subsequent Zone to Zone A.
Conventionally we halve back, meaning Zone B is only half as valuable as Zone A and Zone C is only half as valuable as Zone B.
The sum of relative areas arrives at an area in terms of Zone A (ITZA).
This can then be used to devalue an annual rent. i.e. dividing rent by ITZA area to arrive at a Zone A rate.
The comparable evidence can then be analysed on the same basis to provide supporting evidence, i.e. ITZA rental rates, to justify the surveyor’s opinion of the market rent
