General

Question 1

How did you carry out the AML Check?

Answer 1

• Check Workman AML Statement – required as RICS regulated firm to carry out Know your client (KYC) or customer due diligence (CDD) checks
• Also involves seeing identifying Politically Exposed Persons (PEPs), Person of Significant Control (PSCs) and any potential breaches of sanctions
• Any queries to Group company Secretary who acts as Money Laundering Reporting Officer (MLRO) – Nick Kemp

RICS professional standard: Countering bribery, corruption, money laundering and terrorist
Financing (2019)

Question 2

How did you carry out the COI check?

Answer 2

• Partner is to check internal database to check there is any records
• Partner will inform client if there is conflict/no conflict
• If no conflict proceed
• If conflict, notify both parties and only proceed with informed consent and manage conflict in agreed way

RICS Professional Standard- Conflicts of Interest (2017), re-issued in July 2023 as a standard

Question 3

What RICS Regulation applies to COI and AML respectively?

Answer 3

COI - RICS Professional Standard- Conflicts of Interest (2017), re-issued in July 2023 as a standard

AML - RICS professional standard: Countering bribery, corruption, money laundering and terrorist
Financing (2019)

Question 4

What year was the property built?

Answer 4

1989

Question 5

What common defects do you find with these properties?

Answer 5

• Cut edge erosion on cladding
• Roof leaks
• Cracking & water ingress in the glass facade
• Failure mortar joints on low level brick walls

Question 6

What are inclusions/exclusions were made in GIA?

Answer 6

Inclusions
- Mezzanie with permanent access
- internal walls partitions
- lift plant
- toilets

Exclusions
- Perimeter wall thickness & external projections
- external open sided balconies
- canopies

Question 7

What use class does this fall under & what act do use classes fall under? What’s the latest update?

Answer 7

• Class E
• Town and Country Planning (Use Classes) Order 1987
• Last update 1st September 2020

Question 8

How was the lease contracted outside the 54 Act?

Answer 8

Regulatory reform order 2003 simplified the process so that it rarely requires a court influence

→ Landlord serves health warning stating consequences of contracting out
→ Simple declaration if Tenant 14+ days before start of less
→ Statutory declaration if less than 14 days before start of lease

Question 9

Typical terms of a Rental Deposit Deed?

Answer 9

• interest
• amount
• top up provisions
• conditions of use
• release conditions