SOE technical Flashcards
What is the RICS registered valuer scheme and why is it important
Valuer Registration is a risk monitoring and quality assurance programme which checks compliance with the RICS Red Book.
Valuer Registration ensures that our members always meet the highest valuation standards. Becoming a Registered Valuer therefore offers protection and confidence both to you and your clients.
what is PII and why is it important
Professional indemnity insurance covers the cost of compensating clients for loss or damage resulting from negligent services or advice provided by a business or an individual.
Definition of market rent
The estimated amount for which an interest in real property
should be leased on the valuation date between a willing lessor and willing lessee on appropriate lease terms in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion
What is a discount rate and how did you arrive at your chosen one
The initial rate was low based on the special assumption that the lease had just commenced
The exit rate was high due to the fact that changing market hard to predict the future energy market possible obsolete.
We steadily increased the rate to reflect break clauses and age of the project.
What is a DCF
A DCF is a model that sets out, with varying degrees of sophistication, the actual expected cash flow of the investment
Any rics documents advise on the solar farm
RICS Standard
Valuation of assets in the
commercial renewable energy
sector
1st edition, April 2018
Effective from 19 April 2018
DCF solar value
based on the special asumption that the project was running and the lease started in accordance with the latest version of the agreed HOT’s. Aim to find the market value for tax planning.
No income rent purely on a per acre basis
VPGA4 was consulted
what is a yield and how was your yield selected
Yield that can be applied to the rental income from an investment property to capitalize that income
We calculated the yield market yield from market evidence the RICS registered valuer had and discussion from collogues working in renewables and valuation, it then increased due to break clauses etc
Min distance for solar and BESS to 3rd party property
Solar - no min distance
BESS - typically a minimum of 250 meters
What details are required for AML checks
Proof of Id Proof of address and Proof of funds. Personnel details which are then run through our smart search system
what is a memorandum of sale
is a legal document that confirms the details of a property sale between a buyer and seller.
What is the RPA and their role
The Rural Payments Agency (RPA) is a UK government agency that makes payments to farmers, traders, and landowners in England
What is DEFRA and their role
The Department for Environment, Food and Rural Affairs is a ministerial department of the Government of the United Kingdom. It is responsible for environmental protection, food production and standards, agriculture, fisheries and rural communities in the entire United Kingdom
Who is the current secretary of state for DEFRA
Steve Reed OBE
Why were lower prices for the limousine cattle achieved
As they were sold younger they had to be sold as store for further finishing
What act controls weeds
The weeds act 1959
Effect of the weeds act 1959
Requiring action: The government could serve a notice to land occupiers to take action to prevent the spread of weeds.
Penalties: Occupiers who failed to comply with the notice could be fined. If the situation wasn’t remedied within 14 days, the occupier could face further punishment.
Investigations: The government could investigate complaints about the spread of weeds.
Powers of entry: The government could enter and inspect land.
In Mapping what is a tif file
Tif is a common GIS raster data format.
In mapping what is a gml file
GML is a vector file format that allows for geographic data to be kept as a text file used for vector data
TDS timeframes
Deposit protection
Landlords or letting agents must protect deposits within 30 days of receiving them.
Deposit return
Landlords must return deposits within 10 days of both parties agreeing on the amount to be returned.
Dispute resolution
TDS aims to resolve adjudication processes within 28 days. This includes the time it takes to receive all evidence and the agreement of all parties to the resolution
Ag tenancies
Farm Business tenancy - Agricultural Tenancies Act 1995
Agricultural holdings act tenancy - Agricultural Holdings Act 1986
why did we not apply for grants for the works needed at the field suffering from ragwort
I was aware that a grant could cover the funding of the costs under a countryside stewardship scheme.
some form of easier and quicker to get the inhouse team to do it - check with harry
If i pass will i immediately become a rics registered valuer
As i have taken valuation to level 3 if i am successful I will be able to apply to join the registered valuer scheme if i pass
what is D&R’s complaints handling procedure
We act in accordance with Complaints handling, RICS professional standard.
complaints acknowledged within 7 days and escalated to our CEO who on reviewing it will respond fully to the complaint within 28 days.
After a period of 28 days, we will confirm in writing that we:
* Accept the complaint and offer redress where appropriate, or
* Have so far been unable to resolve the complaint, provide the reason for this and
confirm when you might expect our further response, or
* Reject the complaint and give a full explanation of our reasons.
