Free RICS APC Revision Quiz - Property Management (Commercial)

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Question Title

* 1. What type of notice can be used to pursue a former tenant or guarantor?

Section 25 - Landlord & Tenant (Covenants) Act 1995

Section 14 - Landlord & Tenant Act 1954

Section 17 - Landlord & Tenant (Covenants) Act 1995

Section 26 - Landlord & Tenant Act 1954

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* 2. When did CRAR come into force?

April 2015

April 2014

April 2013

April 2018

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* 3. What did it abolish?

Bailiff’s Law of Rent Recovery

Common Law of Distress (Distraint)

It didn’t, it introduced a new mechanism altogether

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* 4. Can forfeiture be implied?

Yes - by conduct of the parties

Yes - if the landlord serves notice on the tenant

No - it must be an express provision in a lease

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* 5. What RICS guidance relates to service charges?

Service charges in commercial property, professional standard - 1st edition (September 2018) - effective from 1 April 2019

Service charges in commercial property, code of practice - 3rd edition - effective from 1 April 2019

Service charges in commercial property, professional statement - 1st edition (September 2018) - effective from 1 April 2018

Service charges in commercial property, code of practice - 2nd edition

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* 6. What is the main change in the new professional standard?

Mandatory not just best practice

Best practice with supporting guidance

Global guidance, not just UK

Put’s the power in the favour of tenants, not landlords

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* 7. What should service charges be?

Not for profit, not for loss

Profit making for the landlord

Reducing the liabilities of tenants so that landlords carry the burden

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* 8. What is the purpose of a sinking fund?

To periodically set aside money for the replacement of a wasting asset

To set aside funds to allow the landlord to refinance their investment

To meet anticipated future costs of maintenance and upkeep in order to avoid fluctuations in the amount of service charge payable each year

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* 9. When did the Landlord & Tenant (Covenants) Act 1995 come into force?

1 January 1996

1 January 1995

30 January 1996

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* 10. What did the Landlord & Tenant (Covenants) Act 1995 abolish?

Law of distress

Distraint

Contract law for assignment

Privity of contract

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