GLOSSARY

Royal Institution of Chartered Surveyors (RICS) definition

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What does Royal Institution of Chartered Surveyors (RICS) mean?

The professional body for chartered surveyors, and a nominating body for adjudicators and arbitrators.

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Energy performance certificates (EPCs)—issues for commercial landlords and tenants

Energy performance certificates (EPCs)—issues for commercial landlords and tenants This Practice Note looks at some of the key practical issues for commercial landlords and tenants when dealing with energy performance certificates (EPCs). It is part of a series of Practice Notes on EPCs and minimum energy efficiency requirements (MEES). An EPC gives a property an energy efficiency rating from A (most efficient) to G (least efficient) and is based on a complex calculation, which looks at a number of factors such as the age and type of building and its construction, insulation and heating systems. For more information on what an EPC is and when they are required, see Practice Note: Energy performance certificates (EPCs)—what are they and when are they required? The key regulations governing EPCs are the Energy Performance of Buildings (England and Wales) Regulations 2012, SI 2012/3118 (EPC Regs 2012) and the Building Regulations 2010, SI 2010/2214 (Building Regs 2010), which implemented the requirements of the recast Energy Performance of Buildings Directive 2010/31/EU, (recast EPBD directive). The EPC Regs 2012 apply to all buildings across England and Wales. Prior to the EPC Regs 2012, the Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007, SI 2007/991 (as amended) implemented the original Energy Performance of Buildings Directive 2002/91/EC (original EPBD directive). The recast EPBD directive was drafted as the European Council resolved that it

Commercial service charges—a practical lease negotiation guide

Commercial service charges—a practical lease negotiation guide Landlord’s service charge objectives The landlord’s main concern is to ensure that the costs of maintenance and repair of the building are passed on to the tenants and are not deducted from the landlord’s income/rents. This is sometimes referred to as the ‘clear lease’ principle. If the landlord sells its asset, one of the buyer’s key questions will be whether the service charge is fully recoverable. If it is not, then the market value of the landlord’s investment is likely to be impacted. Other key aims for the landlord are: • flexibility in deciding when and how the services are provided • limiting its obligations in the lease to providing core services while retaining flexibility to recover other sums • maintaining consistency across leases in a multi-let building, and • ensuring that there are no ‘holes’ for costs to fall through. Inevitably, there may be something which is required which did not occur to either party at the time of the grant of the lease so the landlord will want to include a catch-all ‘sweeper clause’ in the service charge which sweeps up any items of expenditure not covered elsewhere in the list of recoverable costs (although note that the Model Commercial Lease (MCL) does not contain a sweeper clause). Service charge clauses are likely to be narrowly construed against the landlord and will

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Estate administration—Letter to chartered surveyor for valuation

administration'>Estate administration—Letter to chartered surveyor for valuation [enter name of chartered surveyor] [enter address of chartered surveyor] Dear [insert organisation name] The late [name of deceased] [Property OR Land] address: [enter address of deceased’s property or land to be valued] We are instructed by the personal representatives of the late [name of deceased] who died on [date of death]. We enclose an office copy of the death certificate for your review and return. We would be grateful if you would provide [a quote for] a formal valuation of the deceased's [property OR land OR at

Underlease of whole premises demised by headlease—part of office building—illustrative mark-up

Underlease of whole premises demised by headlease—part of office building—illustrative mark-up Precedent underlease of part-offices—whole of premises demised by Head Lease This Precedent underlease is presented as a ‘tracked changes’ PDF showing the changes made to convert a head lease to an underlease, and can be downloaded, saved or printed from this link: . NOTE: This illustrative mark-up is based upon Lease of part—offices [Archived], a previous version of our Precedent Lease of part (office). However, the purpose of this document is to demonstrate how a practitioner should approach the task of drafting an underlease and the principles remain the same. Drafting notes to Precedent Underlease of part-offices—whole of premises demised by Head Lease Caution This underlease assumes that the Head Lease is a lease of office premises forming part of a building and that the premises demised by the underlease are the whole of the premises demised by the Head Lease. It therefore incorporates service charge and insurance rent on the same terms as the Head Lease. It is presented as a ‘tracked changes’ document showing the changes made to the Head Lease to convert it to an underlease. The terms of any underlease will always depend on the precise terms and requirements of the relevant Head Lease. Therefore, this Precedent is for illustrative purposes only and is designed to be used as a prompt to consider common issues that

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Where a local authority is proposing to dispose of land in reliance on the General Disposal Consent 2003, should the valuer they instruct to assess the undervalue amount be independent, or could the valuer be an inhouse local authority valuer?

Where a local authority is proposing to dispose of land in reliance on the General Disposal Consent 2003, should the valuer they instruct to assess the undervalue amount be independent, or could the valuer be an inhouse local authority valuer? This Q&A considers whether a valuer instructed by the local authority to assess the undervalue of an interest disposed pursuant to the General Disposal Consent (England) 2003 (set out in Circular 06/03), must be independent and must not be employed in-house. Generally, there appears to be nothing preventing the authority from using an in-house valuer as long as they are appropriately qualified, although the authority should take care to safeguard itself from any claims of conflict of interest. This Q&A considers a scenario where the disposal properly falls within the terms of the General Disposal Consent 2003 and that the disposal of the interest at an undervalue is properly authorised and reasoned by the authority. The General Disposal Consent 2003 relates to the power under section 123 of the Local Government Act 1972 (LGA 1972) for local authorities to dispose of land. Local authorities disposals of land must be for the best consideration reasonably obtainable unless the relevant Secretary of State consents to a disposal at an undervalue. LGA 1972, s 128 allows the Secretary of State to give a general consent for disposals by the local authority at

In respect of commercial property, what is considered 'beyond economic repair'?

In respect of commercial property, what is considered 'beyond economic repair'? Paragraph 8.2 of the Royal Institution of Chartered Surveyors (RICS) code considers the definition of ‘beyond economic repair’ and states that: 'Plant and equipment reaches the end of its economic life when it is more economic

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Planning weekly highlights—28 July 2022

This week's edition of Planning weekly highlights includes: an update on a raft of building safety announcements, the introduction of Civil Procedure Rules for environmental review proceedings, further measures to reduce nutrient pollution in England, guidance on the district level licensing scheme for great crested newts, legislation adding beavers to the list of European protected species, analysis of the court decision dealing with the challenge to the government’s Net Zero Strategy, and the extension of the pavement licensing scheme in England.

Construction weekly highlights—28 July 2022

This week's edition of Construction weekly highlights includes a case in which the Technology and Construction Court (TCC) rejected arguments that the liquidated damages provisions of a construction contract were void for uncertainty (Buckingham Group v Peel L&P Investments), a case in which the TCC considered the contractor’s liability for delays in the absence of a formal written contract (Barkby Real Estate Developments v Cornerstone Telecommunications), the introduction of regulations made under the Building Safety Act 2022 (BSA 2022) in relation to leaseholder protection, the publication of new government guidance on BSA 2022, and the release of the New Engineering Contract (NEC)’s Secondary Option X29, which aims to incentivise carbon reduction on construction projects.

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GLOSSARY

Royal Institution of Chartered Surveyors (RICS) definition

What does Royal Institution of Chartered Surveyors (RICS) mean?

View the related practice notes about Royal Institution of Chartered Surveyors (RICS)

Energy performance certificates (EPCs)—issues for commercial landlords and tenants

Commercial service charges—a practical lease negotiation guide

View the related precedents about Royal Institution of Chartered Surveyors (RICS)

Estate administration—Letter to chartered surveyor for valuation

Underlease of whole premises demised by headlease—part of office building—illustrative mark-up

View the related q&as about Royal Institution of Chartered Surveyors (RICS)

Where a local authority is proposing to dispose of land in reliance on the General Disposal Consent 2003, should the valuer they instruct to assess the undervalue amount be independent, or could the valuer be an inhouse local authority valuer?

In respect of commercial property, what is considered 'beyond economic repair'?

View the related News about Royal Institution of Chartered Surveyors (RICS)

Planning weekly highlights—28 July 2022

Construction weekly highlights—28 July 2022

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GLOSSARY

Royal Institution of Chartered Surveyors (RICS) definition

What does Royal Institution of Chartered Surveyors (RICS) mean?

View the related practice notes about Royal Institution of Chartered Surveyors (RICS)

Energy performance certificates (EPCs)—issues for commercial landlords and tenants

Commercial service charges—a practical lease negotiation guide

View the related precedents about Royal Institution of Chartered Surveyors (RICS)

Estate administration—Letter to chartered surveyor for valuation

Underlease of whole premises demised by headlease—part of office building—illustrative mark-up

View the related q&as about Royal Institution of Chartered Surveyors (RICS)

Where a local authority is proposing to dispose of land in reliance on the General Disposal Consent 2003, should the valuer they instruct to assess the undervalue amount be independent, or could the valuer be an inhouse local authority valuer?

In respect of commercial property, what is considered 'beyond economic repair'?

View the related News about Royal Institution of Chartered Surveyors (RICS)

Planning weekly highlights—28 July 2022

Construction weekly highlights—28 July 2022

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INSIGHTS

Popular Links

HELP & SUPPORT

Policies