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APC Session 2 > Submission > Flashcards

Submission Flashcards

1
Q
  1. Key points for case study
A

a. Built in 90’s
b. 13 units
c. 9 on terrace
d. 4 stand alone
e. Toys r us admin 2018
f. Remained vacant
g. IRI for other terrace units
h. Tarmac quote £300k
i. National Living wage
j. Inflation rate
k. Roof works in 2019
l. Tenant and customer complaints of pot holes
m. Forward fund across 6 years
n. Ensure tenants are informed of resurfacing impact

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2
Q
  1. What are the examples for ethics level 1?
A

a. RICS global and professional standards
b. RICS rules of conduct 2021 and the 5 rules
c. Professional standards such as
i. Conflicts of interest 2017
ii. Countering bribery, corruption, money laundering and terrorist financing 2019

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3
Q
  1. What is the examples for ethics level 2?
A

a. Retail park in Bournemouth – contacting agents for comparable evidence and ensuring I do not disclose retail park information
b. Carrying out a conflict of interest check

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4
Q
  1. What is the examples for ethics level 3?
A

a. Telford rent arrears Ross Wilkes
i. discussed rent with neighbouring tenant Greggs.
ii. Advised I couldn’t, if he persisted would have to end the call.
b. Metrocentre break advice
i. Tenant wanted advice on a break clause
ii. Advised review their lease and get legal advice as conflict with client

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5
Q
  1. What is the examples for client care level 1?
A

a. Principles and practice of client care
b. Maintaining good relationships
c. Duty of care to clients
d. RICS Guidance note Complaints Handling 2016
e. Companies CHP

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6
Q
  1. What was the examples for client care level 2?
A

a. Metro monthly report
i. Focus was Covid arrears / insolvent tenants
ii. Wanted focus on turnover
iii. Condensed arrears section
iv. Analysed turnover
v. sales data into categories
b. Telford Weekly arrears calls.
i. Higher debtors
ii. From £5.3m to £700k arrears
iii. Update, arrears reduced higher focus on 5k and below.

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7
Q
  1. What are the examples for communication level 1
A

a. Strong oral and written communication skills,
b. communicate regularly
c. Process to negotiations,
d. liaising with client

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8
Q
  1. What are the examples for communication level 2
A

a. Reviewing unallocated cash,
b. made letter template, issued to tenants with deadline
C. Collating comparable evidence for Crawley,
d. preparing for calls, grouped agencies, prepared
questions

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9
Q
  1. What are the examples for H&S level 1
A

a. H&S at work Act 1974
b. RICS PS surveying Safely 2018
C. Lone working procedures
d. PPE

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10
Q
  1. What are the examples for H&S level 2
A

a. Development inspection at Watford, PPE needed,
escorted around
b. Inspection of service corridors,
storage boxes outside fire exit,
requested remove,
informed H&S team to keep an eye on

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11
Q
  1. What are the examples for Business planning level 1
A

a. Importance of business planning,
effect on corporate objectives.
Monthly meetings re performance, business
opportunities and challenges
b. Annual briefings from clients, business plan and
strategies. Monthly meetings ensure targets met.

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12
Q
  1. What are the examples for conflict avoidance level 1
A

a. Common causes of disputes, effective communication
and negotiation
b. RICS Professional Standard on Conflicts of Interest 2017

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13
Q
  1. What are the examples for Data management level 1
A

a. Use of published sources, internal systems used,
tenancy details, lease information
b. GDPR

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14
Q
  1. What are the examples for D&I level 1
A

a. Principles, behaviour and dynamics of effective team
working and the benefits.
b. Importance of diversity in a team, Equality Act 2010 and
D&I in RICS and my company

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15
Q
  1. What are the examples for inclusive environments level 1
A

a. Importance of users’ needs within building design
b. Equality act 2010, 9 characteristics

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16
Q
  1. What are the examples for Sustainability level 1
A

a. Sources of renewable energy and recovery
b. Sustainability balance economic, environmental and
social objectives, sustainable solutions

17
Q
  1. What is the example for level 2 sustainability?
A

a. Telford EPCs
i. With the new upcoming MEES Regs
ii. reviewed EPCs across the centre.
iii. Checked EPC register
iv. listed need updating
v. Got quotes
vi. Advised client
vii. Arranged EPC surveys
viii. Instructed EPC plus reports
ix. Updated TS
x. Updated client monthly
b. Telford LED lights
i. Back of house
ii. Obtained quotes
iii. Advised client
iv. arranged sensors installed

18
Q
  1. What are the examples for inspection level 1
A

a. Important to carry out inspections and reasons
b. Safety issues, RICS professional standard surveying
safely 2018

19
Q
  1. What are the examples for inspection level 2
A

a. Industrial unit at Heathrow
i. Copies of TS, site plans, access and PPE
ii. Watch H&S video
iii. Condition, fit out, shutters, eaves height
iv. Access points, loading bays
v. Saved notes and photos to file
b. Shopping centre Liverpool
i. Service corridor
ii. Advised timings to colleagues
iii. Diary up to date, phone on.
iv. Tenants using corridor as storage and leaving fire exit open
v. Closed fire exit, noted tenant names
vi. Reported findings using traffic light system to ops team
vii. Tenants spoken to directly and letter to HO

20
Q
  1. What are the examples for inspection level 3
A

a. Multi-let office Harrow
i. Liased with Facility manager, reviewed TS office plans
and lettings brochure
ii. Made notes of tenancy changes, condition.
iii. Enquired recent fit outs and plan at lease end
iv. Updated TS advised client of changes – requested leases
v. Updated report with description of condition, layout
and amenities
b. Tenant vacating Telford
i. Inspected property
ii. Documented via photographic schedule
iii. Files and furniture left behind not cleaned
iv. Reviewed rent deposit
v. Advised client of cleaning costs
vi. Informed tenant with photo evidence intention using
deposit
vii. Tenant agreed, instructed removal and office clean

21
Q
  1. What are the examples for measurement level 1?
A

a. RICS Professional Statement Property Measurement 2018 and IPMS
b. Implementation of IPMS to promote and improve accuracy, transparency and standardise globally
c. Appropriate equipment and experience in different property types usin tape measure and laser device.

22
Q
  1. What are the examples for measurement level 2?
A

a. Offices London
i. Multiple offices for check measurements
ii. Supervised
iii. Floor plan and measurement report
iv. Distometer measured NIA and IPMS 3 – offices
v. Annotated plans
vi. Calculated measurements
vii. Within tolerance
b. Newly built industrial unit Luton
i. GIA
ii. Checked laser was correct
iii. Recorded width and depth
iv. Made note of roller shutter and eaves height

23
Q
  1. What are the examples for valuation level 1
A

a. RICS Valuation-Global Standards 2021 (Red Book Global) mandatory status for written valuations. IVS
b. 5 main methods when they are used and 4 main basis of value
c. Must be registered for red book valuation

24
Q
  1. What are the examples for valuation level 2
A

a. Office Crawley
i. Single let
ii. Secure covenant
iii. Occupation 9 years. 4.5 years to unexpired term certain
iv. Comparables for market rent and market value
v. Re-fit required
vi. Low demand for offices
vii. More security as government
viii. Used appropriate yield
b. Industrial Luton
i. Multi-let
ii. Newly built
iii. 12 units
iv. 10 let within 2 years and 2 vacancies
v. ToE prepared and sent
vi. Stat requirements and due diligence
vii. Investment and rental evidence
viii. Arrived at Market rent and value
ix. Considerations for high spec, good location, close to airport
x. Varied in unit sizes suite local occupier demand demonstrated by occupancy
xi. Used argus and updated report

25
Q
  1. What are the examples for Data Management level 2
A

a. Valuation in Harrow
i. Collated data from VOA, EPC register and planning permissions
ii. Added to report
iii. Highlighted two EPCs below E
iv. Works to be carried out
b. Telford uploading leases
i. Extracting lease data
ii. Once uploaded, check information against live TS
iii. Use TS to monitor lease events
iv. Includes LL costs/shortfalls

26
Q
  1. What are the examples for Data management level 3
A

a. Turnover onboarding Metro
i. Read through a large number of leases
ii. Extracted turnover information
iii. Populated turnover schedule
iv. Advised who was turnover leases
v. Advised who had outstanding certs
vi. Recommended to invoke penalty clause

b. Covid arrears Telford
i. Collated arrears data into a table
ii. Split into age categories
iii. Advised who needs chasing
iv. Who needs covid convos
v. Instilled weekly arrears call

27
Q
  1. What are the examples for Prop man level 1?
A

a. Relationship between LL and T, RICS PS SC in commercial property 2018
b. Key lease terms – payment terms, break clauses, alienation, repair, alterations and SC provisions

27
Q
  1. What are the examples for Prop man level 2?
A

a. Covid 19 arrears recovery
i. CRAR suspended
ii. Negotiated arrears recovery with tenant
iii. Analysed arrears applied standard concession
iv. Formally documented
b. SC budget Telford RV analysis
i. RV as historic lease restrictions
ii. 2023 revaluation large increases
iii. Reviewed via weighted floor
iv. Require lease negotiation

28
Q
  1. What are the examples for Prop man level 3?
A

a. Telford tenant application
i. Refurbishment request and new signage
ii. Facilities manager checked
iii. Reviewed lease plans
iv. Undertaking
v. Advised document licence to alter
vi. Instructed sols
b. Metro retail park SC budget YE 2022
i. Advised centre team to allocate invoices to different cost codes - external cleaning of units needed to be put into schedule 2 and schedule 5
ii. Amend tenants and vacations
iii. Caps and inclusive leases
iv. Checked floor areas
v. Apportionment correct
vi. Advised client expected budget cost including LL shortfalls
vii. Increase in inflation clear when issuing budget

29
Q
  1. What are the examples for strat real estate level 1
A

a. Understand strategy in business
b. Real estate vital
c. Stat advice from LL and tenant
d. Quarterly presentations
e. Objectives
6. Why is strategy important?
7. Why is real estate vital?
8. What LL strategies is there?
9. What T strategies is there?
10. What are the current objectives?

30
Q
  1. What are your level 2 examples for stat real estate?
A

a. COVID arrears Telford
i. Following lock downs
ii. Advised to use rent concessions
iii. Remove break/ extend lease terms
iv. Improve arrears
v. Improve WAULT
vi. Improve NOI
b. Chuckling chese
i. Tenant surrounded by a lot of vancies
ii. Achieved a higher rent
iii. Flexible lease
iv. When vacanicies reduce tenant can be moved

31
Q
  1. What are your level 3 examples for stat real estate?
A

a. Bags of luggage
1. Unable to afford arrears along with rent
2. Suggested reducing the pitch size
3. Allow for second tenant
b. Ross Wilkes (Maria Gudge)
1. Area wanted in near future for development
2. Lease expiry due
3. Covid arrears
4. Tenant wanted lower rent
5. Advised client to Meet in the middle re:rents
6. Provided flexible break
7. 5 year lease
8. Meant we have a tenant but ready to break when relocation was required

32
Q
  1. What are the examples for level 1 L&T
A

a. Form and structure of leases
b. Responding to lease queries
c. L&T 1954 act 24-28

33
Q
  1. What are the examples for level 2 L&T
A

a. Maria Gudge
i. Possible redevelopment
ii. Lease renewal
iii. Required flexibility
iv. Don’t disclose pending development
v. 50% rent reduction
vi. Arrears to be paid
vii. 5 year lease
viii. 6 months term certain
ix. Rolling break
x. Lower rent
b. Metro independent RPI rents
i. Outstanding from 2019
ii. Spreadsheet with each tenant and rent details
iii. Reviewed each lease
iv. Calculated each year of reviews
v. Summary table showing rents for each year
vi. Additional column showing RPI from 2019 to 2022
vii. Further column showing amount effectively written off

APC Session 2 (19 decks)

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