Measurements Flashcards
What does IPMS stand for?
International Property Measurement Standards
True or False: IPMS provides a uniform approach to measuring property.
True
Fill in the blank: The main goal of IPMS is to create consistency in __________ across different countries.
property measurement
Which organization is responsible for developing IPMS?
The International Property Measurement Standards Coalition (IPMSC)
What year was the first version of the IPMS published?
2014
Multiple Choice: Which of the following is NOT a benefit of IPMS? A) Increased transparency B) Improved comparability C) Higher property taxes D) Enhanced data accuracy
C) Higher property taxes
What key principle underlies the IPMS?
Standardization of property measurement practices
True or False: IPMS is only applicable to commercial properties.
False
What is the primary purpose of adopting IPMS in real estate?
To provide a clear and consistent basis for property measurement worldwide.
Fill in the blank: IPMS aims to facilitate better __________ for investors and stakeholders.
decision-making
What is the definition of Net Internal Area (NIA)?
Net Internal Area (NIA) is the usable area within a building, excluding walls, corridors, and other non-usable spaces.
True or False: Net Internal Area includes structural elements such as columns and walls.
False
Fill in the blank: Net Internal Area is typically measured in __________.
square meters or square feet
Which of the following is NOT included in the calculation of Net Internal Area? A) Offices B) Staircases C) Restrooms D) Storage rooms
B) Staircases
What is the primary purpose of calculating the Net Internal Area in building measurements?
To determine the usable space available for occupancy and activities within the building.
What does Gross External Area (GEA) measure?
Gross External Area measures the total area of a building, including all external walls and any external structures.
True or False: Gross External Area includes the area of internal walls.
False
Fill in the blank: Gross External Area is typically expressed in __________.
square meters or square feet
Which of the following is NOT included in the Gross External Area? A) Roof overhangs B) Balconies C) Internal staircases
C) Internal staircases
What is the primary purpose of calculating Gross External Area?
The primary purpose is to assess the total space of a building for valuation, planning, and regulatory compliance.
What buildings are included in the IPMS All buildings?
IPMS all buildings is applicable to all types of buildings independent of their use or their occupation.
IPMS are sufficiently flexible to apply to different purpose such as Valuation/Transaction and property management.
What is IPMS 3 used for?
Exclusive occupation use areas
What is IPMS 3.2?
The floor area available on an exclusive basis to occupier measured internally.
What is IPMS 3B?
An internal measurement including internal walls, etc - equates somewhat to GIA (Gross internal area)
Used for marketing and valuation purposes.
What is IPMS 3C
An internal measurement excluding internal walls, etc
Equates somewhat to EFA
In IPMS 3B Residental what is included but stated separately
Attics, basement/cellar
Balconies
Garages
Limited use areas
