Submission Flashcards
What would you do if you saw a breach of health and safety conditions when on site?
If there is imminent danger and it is safe to do so, I would intervene as it is my duty of care to the client to stop injury/harm.
I would then report to client.. if they did not care then report it to Health and Safety Executive (the government regulator)
What is the difference between a valuation inspection and a letting inspection?
Valuation - looking at what is there at the time of inspection (valuation date) and what could drive value
Letting - looking at the positives in terms of marketability and how things could be improved in future by landlord
Can LSH handle money?
Yes they can but do not accept cash - has to be via bank transfer
How are LSH’s offices inclusive for people with different needs?
Has a lift
If fire alarm goes off there are special lights that come on so deaf people are aware of what is happening
What would be different in the terms of a letting between an income driven landlord and an investment driven one?
Investment driven - higher headline rent but increased rent free period (so when they come to sell investment the yield is lower)
Income driven - shorter rent free period but net effective rent higher throughout
Did you have to include MCIL in the Hounslow example?
How is CIL calculated?
Yes - it is is band 2 (£60 per sqm)
It is calculated by multiplying the net uplift in new floor space that a development will be creating (sqm) by the relevant CIL rate set out in the charging schedule
When can you start to rentalise tenant improvements at a renewal?
21 years after the improvement is made
Why do you want to be a surveyor?
It is the kitemark of excellence in the interests of consumer protection
What are the two types of declaration to be outside the act?
Statutory declaration - if landlords warning is served less than 14 days before the lease will be entered into
Simple declaration - if landlords warning is served more than 14 days
What are the PII bands?
Turnover £100k or less = minimum £250k indemnity required
£100k-£200k = minimum £500k
£200k and above = minimum £1m
What is the maximum level of uninsured excess (the part of each claim the firm must pay itself)?
Turnover less than £10million = the greater of 2.5% of sun insured it £10k
No limit for more than £10m turnover
What are EPCs?
Give buildings efficiency ratings and a comparison to similar buildings
Gives recommendations e.g. replace old services/add in insulation or LED lighting
