MEASUREMENT Flashcards
Tell me about your understanding of RICS Property Measurement.
RICS Code of Measuring Practice: Provides detailed guidelines for measuring properties
International Property Measurement Standards (IPMS): An international framework for property measurement
When would you use NIA as a measurement basis?
When would you use GIA as a measurement basis?
When would you use GEA as a measurement basis?
NIA - commonly used for leasing commercial spaces, e.g. office
GIA - often used in development valuation, where you include circulation space.
GEA - often used in planning application or construction - where you measure to external wall
What measurement basis would you use for office property?
What measurement basis would you use for industrial property?
What measurement basis would you use for retail property?
Office - NIA
Industrial - GIA
Retail - NIA or GIA
What is IPMS?
Explain your understanding of IPMS All Buildings to me
IPMS (International Property Measurement Standards) provides global standards for measuring property areas to ensure consistency.
IPMS all buildings, combined previous separate documents that covered different uses.
IMPS 1 - similar to GEA
IMPS 2 - similar to GIA
IMPS 3 - similar to NIA
IMPS 4 - specific parts of a building
What is the internal dominant face?
Measured to the inner part of wall which covers 50% or more of the surface area.
How would you treat low or limited head height when measuring?
Commonly is the ceiling height is below 1.5m then it may be excluded from the area of the room.
How would you adjust your comparable evidence if it was measured on a different basis to your subject property?
You may adjust the value, for example knowing that GIA may be around 10% larger than NIA.
What is a tolerance level when measuring?
Tolerance levels define the range of acceptable variation in measurements
What are the differences between IMPS and GEA/GIA/NIA
Closely comparable but in IMPS external balconies are included but stated seperately.
They are exluded from GIA.
