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RICS APC 2023 - My SoE > Property Management > Flashcards

Property Management Flashcards

1
Q

What is rateable value?

A

An estimate of the annual rent a property could be let for if it were available to let on an open market at a fixed valuation date

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2
Q

What are the EPC regulations?

A

The minimum energy efficiency standards

The energy efficiency (private rented property) regulations 2015 as amended

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3
Q

What is a modern letable standard?

A

Comply with the Homes (fitness for human habitation) Act 2018
Gas safety certificate
EPC
EICR

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4
Q

What did you do in relation to the landowner engagement exercise
Advice and regulations

A

I advised my client that they should make contact with stakeholders impacted by their assets to
- Promote positive relations with stakeholders
- Ensure affected stakeholders are aware of responsibilities

Pipeline safety regulations 1996 s.16 -
to ensure no damage, operator must take steps to inform persons of whereabouts

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5
Q

What is the process for gathering quotes from a third party contractor?

A

Agree scope of works with client. Understand their timescales and budget.

Look on the FG approved contractors list
for contractors within discipline/specialist area

Requested quotes and timescales based on scope

Present these to client and advise which may be most appropriate based on fulfillment of scope of works/objectives and any recommendations

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6
Q

What are the CDM Regs in full?
When do these apply?

A

Construction (design and management) Regulations 2015

Applies to all construction work, including domestic

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7
Q

When must the HSE be notified of construction work?
What is the notification?

A

30 days or 20 workers
Over 500 person days

F10 notification of construction

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8
Q

What level of public liability cover would you expect?

A

Around £5m (max level of claim)

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9
Q

What is the process for getting contractors approved on the system?

A

Checking insurances - Public Liability
Work compliant with CDM Regs
Standard RAMS acceptable
Any reviews if they have a website
Any relevant accreditations

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10
Q

What is the Gas Safe Legislation?

A

The Gas Safety (installation and use) Regulations 1998 (as amended)

GSIUR 1998

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11
Q

What is the penalty for not having a Gas Safety Check ?

A

£6,000

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12
Q

What are a LL responsibilities in relation to Gas Safety?
What is the specific regulation?

A

Regulation 36 -
Annual safety checks (recorded and issued to T)
Ongoing maintenance

Provide T with copy of check within 28 days

Tenancy agreement should permit access for Gas Safety Checks

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13
Q

What does a Gas Saftey check involve?

A

Gas appliances working correctly
Harmful gases removed safely
Ventilation routes clear and adequate
Saftey devices working correctly

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14
Q

What were the works required at Ireland Barn?

A

Recommended works to the flues on the boiler
Disconnected gas fire that was no longer in use in front room

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15
Q

What paperwork did you collate for the letting of Barnfields Bungalow?

A

EICR
EPC
How to Rent Guide
Fire Saftey
Gas safety check (where applicable)
Deposit Protection Scheme
Chimney sweep
Legionella tests

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16
Q

What are the regulations for an EICR

A

Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020

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17
Q

What are the LL responsibilities in relation to an EICR?
When are these required?

A

Required every 5 years
All resi tenancies shorter than 7 years
Report includes date for next test

7 days - LL must supply Local Authority with copy of the test within

28 days - Carry out remedial works & written confirmation to T/LA. Also supply T with report

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18
Q

What is the penalty for not having an EICR?

A

£30,000 penalty

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19
Q

What is an EICR

A

Ensures that wiring and electrics within the property are up to electrical standards

18th Edition of Wiring Regulations

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20
Q

What are the MEES requirements for Commercial Properties

A

EPC rating E or above

Should dispay EPC if - 500m2 +, visited by public

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21
Q

What are the MEES requirements for Residential Properties?

A

All domestic private rented properties, E or above from 2020.

Likely to be above C soon (gov website states by 2030 but it could be before this)

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22
Q

What is an EPC?
How is it assessed?

A

It rates how energy efficient a building is using grades from A to G.

The energy assessor will look at the age, construction and size of the property.

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23
Q

What are the penalties for not meeting MEES Requirements?
Residential and Commercial

A

Residential - up to £5000 fine

Commercial - Penalty based on rateable value - between £10,000 and £105,000

24
Q

How long is an EPC valid for ?

A

10 years

25
Q

Who can carry out an EPC Assessment

A

An accredited Energy Assessor

26
Q

What accreditation should an Electrician have?

A

The National Inspection Council for Electrical Installation Contracting (NICEIC)

Assessment- sample of their work, premises, documentation, equipment and supervisory staff.
Regular re-assessments

27
Q

What are the Exemptions for an EPC?
How long do they last?

A

5 years

High Cost Exemption - smallest improvement is over £3,500

7 Year Payback - where savings do not outweigh the cost of payback over 7 years regulation 28 (3)-(8)

All Improvements Made - All energy efficiency improvements have been made and property remains below E

Wall Insulation - where wall insulation would be detrimental to properties fabric or structure

Consent - Where third party consent i.e. planning is required and refused.

Devaluation - RICS valuation stating OMV reduces by over 5%

New Landlord - 6 months if LL becomes LL suddenly

28
Q

Where can EPC Exemptions be Registered?
Who can register them?

A

PRS Exemptions Register
LL or their agent

29
Q

What are the EPC Max Spend for Residential and Commercial. What will they increase to?

A

Residential - £3,500
Increasing to £10,000

Commercial - £5,000
Increasing to £30,000

30
Q

What happens if the LL changes when an exemption is in place?

A

For F or G rated properties, the exemption will not carry over to the new LL

31
Q

What is included into the how to rent guide?

A

Right to Rent Checks & Deposit
Information about the end of the tenancy - bills, cleaning etc
Relevant legislation & places for advice - HFFHH Act 2018 & RICS
L & T’s responsibilities
Dispute resolution

32
Q

What did you advise your client with regards to the tree removal works at bramhall?

A

Agreed scope with client

Checked approved contractors list - insurance, recommendations, RAMS, Accreditation (arboricultural association), CDM regs

Requested quotes and timescales based on scope

Reviewed quotes, timescales and reviews from websites and collegues

Advised my client which was most appropriate

33
Q

How much did the tree cutting works cost at Bramhall?
What were the differences between the quotes?

A

The instructed quote was circa. £1200

This was in the middle of the quotes recieved

34
Q

How often would you recommend your Client undertake tree surveys?
What does a Tree Survey Include?

A

Every 2-3 years
Tree survey will state when next survey required

Tree survey plan
Tree type, measurements, age

Specific management recommendations

35
Q

What did you advise your client in regards to the EPC assessment at Hall Cottage?

What are the associated costs?

A

EPC was an F… needed to be an E

-replaced boiler with condensing boiler (also added radiators) £3000
-increased loft insulation to 270mm £500

Works carried out as part of wider pre-letting improvements

36
Q

What terms did you agree for neighbor occupation at Aldermaston?

A

Term - 1 year
Fee - £1 if demanded
Notice - 2 weeks at anytime
Site - 3.4 Ha (and Plan)
Use - Storage of max 1800 wheeled containers at anytime

My client remains in possession of key to facilitate day to day access and use of full site as working depot.

37
Q

What repairs did you carry out at Hall cottage? What were the costs?

A

Kitchen -£4000
Carpets £1000
New Boiler & Radiators - £3000
Increased loft insulation - £500
Decorating - £300
Plumber/builder - £2500

£11,300 in total

38
Q

What were the benefits to your client following the works at Hall Cottage?

A

The works increased the rent from £900 to £1200 per annum

With a total spend of £11,300 the return on investment per year was 31.8%

39
Q

What is a modern letable standard?

A

Gas safe
EICR
EPC
Smoke and CO saftey

Legionella tests
Chimney swept

Homes (Fitness for human habitation) Act 2018

40
Q

What is the Fire Safety Legislation?

A

Smoke and Carbon Monoxide (amendment) Regulations 2022

41
Q

What legal responsibilities did you advise your client of in relation to the landowner engagement exercise?

A

They have legal responsibilities under the Pipeline Safety Regulations 1996:
- 13 - maintain in efficient state and working order
- 15 - no person shall cause damage
- 16 - to ensure no damage, operator must take steps to inform persons of whereabouts

42
Q

What information was included within the landowner engagement correspondence pack?

A

Includes:
- Legislation pipeline is operated under
- Landowner responsibilities (PSR 1996 s15 - no person shall cause damage)
- Contact information for Exolum
- Photos of good practice & common activities which are not allowed targeted towards landowners.
- Plan of land showing location of pipeline

43
Q

What is the relevant accreditation for Tree Contractors?
What are the requirements for the accreditation?

Any other qualifications

A

Arboricultural association Membership
To be a Professional member they will have completed a level 5 qualification in Arboriculture

Chainsaw Certificate

44
Q

What were the risks to your client if the neighbor had continued occupying the depot without an agreement?

A

Claim for Adverse Possession
10 years - Registered
12 years - Unregistered

Land Registration Act 2002 - Trigger notification to registered LO, they are able to object.

45
Q

What are a landlords responsibility in relation to Fire Safety?

A

Smoke alarm on each storey
CO alarm in any room with solid fuel burning appliance
Alarms replaced when not working
Any furnishings provided are fire safe
Access to escape routes

HMO - fire alarms and extinguishers

46
Q

What is the penalty for not complying with the Fire Safety requirements as a LL?

A

Up to £5,000 fine

47
Q

What are LL responsibilities in relation to Tenant’s Deposits

When do these responsibilities apply from?

A

LL must register Tenant’s deposits within 30 days with a government approved tenancy deposit scheme

All AST’s commenced after 6 April 2007

Max 5 weeks rent

48
Q

What is the penalty for non-compliance with Tenant Deposit Requirements

A

Court can award the tenant up to 3x the value of the deposit

Also affects s21 notice

49
Q

What accreditation would you expect gas contractors to have?
How do they get this?

A

To be on the Gas Safe Register and have a Gas Safe ID Card

Annual Renewal
Relevant qualification and evidence of competence
Info on Gas Safe Register website

50
Q

What accreditation would you expect plumbers to have?
How do they get this?

A

Chartered Institute of Plumbing and Heating Engineering (CIPHE)

Register of Plumbing Professionals
Register of Heating Professionals

City & Guilds Craft Certificate and extensive practical experience

51
Q

What due diligence did you carry out prior to the tree works at Aldermaston

A

TPO Checks

52
Q

How have you applied your RICS rules of conduct to the work you carried out at Barnfields Bungalow ?

A

I promoted trust within the profession by providing advice on the documents that would be required, and delivered these in a timely manner to ensure my client conformed with the necessary legislation

53
Q

What would you do if the Gas Safety Check engineer could not carry out the works required?

A

It would depend on the works required - are they mandatory or advisory.

I would advise the tenant and try to find someone to carry out the required works, or look to move the tenant out.

54
Q

Why did you not advise a lease at Aldermaston?

A

Because the occupier wouldn’t have exclusive possession

55
Q

What is a principal contractor? Can you take this role?

A

A principal contractor is someone who takes responsibility for the H&S of the works onsite.

I could not do this role.

56
Q

What is the principal designer?

A

The principal designer is the person that takes charge of the project during the pre-construction phase.

This can be the same person as the principal contractor.

57
Q

What would you say is an acceptable rate for storage if your client was interested in the monetary aspect of the Aldermaston agreement?

A

£3/m2

RICS APC 2023 - My SoE (9 decks)

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