Measurement Summaries (Tech) Flashcards
What are key RICS documents regarding measurement?
RICS Property Measurement 2nd Edition 2018
RICS Code of Measuring Practice 6th Edition 2015
When was RICS Professional Statement 2nd Edition 2018 effective from?
1 May 2018
NIA
Net Internal Area
The useable area of a building measured to the internal dominant face of the perimeter wall at each floor level
IPMS
International Property Measurement Standards
Published by International Property Measurement Standards Coalition 15 Jan 2023
Benefits of IPMS?
worldwide consistency
increased transparency
easier portfolio benchmarking
facilitates international trade in property
Component Area in IPMS
One of the main elements into which the floor area can be divided
There’s A, B1, B2, B3, C, D, E, F, G, H
What properties does IPMS currently apply to?
All buildings, regardless of their use or occupation
Used to be Offices and Residential as per Property Management 2018 but this needs updating
Dual Reporting
Reporting in terms of IPMS and another basis
Can only do this with good reason, EG all comparable evidence is NIA/GIA/GEA so need to compare like with like
When should dual reporting be adopted
When there is not enough comparable evidence using the same basis, so the client requests another standard is used as well
Benefit of dual reporting?
Facilitates comparative analysis both locally and globally
Why did RICS change from Code of Measuring to Property Measurement?
Provides a globally consistent measurement practice
IPMS 3
The Floor Area available on an exclusive basis to an occupier, but excluding Standard Facilities, and calculated on an occupier-by- occupier basis
Standard Facilities
Areas of a building that provide shared facilities and typically do not change over time
EG stairs, lifts, toilets, cleaner cupboards, plant rooms
What is included in IPMS 3?
internal walls and columns
half the common wall as measured to centre line when there is adjacent wall
What measurements are included but stated separately in IPMS 3?
internal balconies
accessible rooftop terraces
areas under 1.5m
what areas are excluded in IPMS 3?
Standard facilities
Difference between IPMS 3 and NIA?
internal walls and columns are excluded NIA, and included IPMS 3
common walls measured to dominant face in NIA, and to centre line in IPMS 3
enclosed walkways/passages excluded NIA and included IPMS 3
Limited Use Areas
certain areas in building that cannot be legally or effectively occupied due to legislation
vary between markets
not specified by RICS but examples include limited light / restricted height
Internal dominant face
Inside finished surface of a wall comprising of 50% floor to ceiling height
What does NIA include?
atria and entrance halls
kitchens
areas with ventilation / heating grills
areas occupied by skirting / perimeter trimming
What does NIA exclude?
perimeter wall thickness
external projections
external balconies
external car parking
external stairs
areas under 1.5m
lift rooms, plant rooms, toilets, cleaner cupboards
What is NIA used for?
rating
property management
estate agency and valuation for shops, supermarkets and business use
Main reasons for property measurement
valuation
purchase and sale
leasing and letting
RCAs
business rates
property management
Retail Area?
Storage area?
The NIA of a shop
area not part of retail area as only used for storage