Property Management - RC 2

Question 1

What is the Code of Measuring Practice, 6th Edition?

Answer 1

This document provides guidelines for the measurement of buildings and land, ensuring consistency and accuracy in reporting. It covers definitions, measurement conventions, and specific guidance for different property types.

Published Date: 2015, Effective Date: 2015, Supersedes: Previous editions of the Code of Measuring Practice.

Question 2

What is the RICS Valuation – Global Standards (Red Book)?

Answer 2

Known as the Red Book, this document sets out mandatory rules, best practice guidance, and related commentary for all RICS members undertaking asset valuations. It ensures transparency, consistency, and professionalism in valuation practices.

Published Date: January 2022, Effective Date: January 2022, Supersedes: Previous editions of the Red Book.

Question 3

What does the RICS Property Measurement, 2nd Edition cover?

Answer 3

This guidance note provides standards for measuring property, including office, residential, and industrial spaces. It incorporates the International Property Measurement Standards (IPMS).

Published Date: May 2018, Effective Date: May 2018, Supersedes: The 1st edition of RICS Property Measurement.

Question 4

What is the focus of Service Charges in Commercial Property, 1st Edition?

Answer 4

This professional statement sets out best practices for managing service charges in commercial properties, aiming to ensure transparency and fairness between landlords and tenants.

Published Date: April 2018, Effective Date: April 2019, Supersedes: No previous editions.

Question 5

What do the RICS Rules of Conduct for Members and Firms entail?

Answer 5

These rules outline the ethical and professional standards expected of RICS members and regulated firms. They cover areas such as integrity, competence, service, and trust.

Published Date: Various updates, latest in 2021, Effective Date: 2021, Supersedes: Previous versions of the Rules of Conduct.

Question 6

What is the purpose of Surveying Safely, 2nd Edition?

Answer 6

This guidance note provides health and safety advice for surveyors, covering risk assessment, site safety, and personal protective equipment (PPE).

Published Date: April 2021, Effective Date: April 2021, Supersedes: The 1st edition of Surveying Safely.

Question 7

What does the Conflicts of Interest, 1st Edition guidance note address?

Answer 7

This global guidance note helps professionals identify and manage conflicts of interest, ensuring impartiality and integrity in their work.

Published Date: March 2017, Effective Date: March 2017, Supersedes: No previous editions.