Document downloads - RICS standards
Available downloads
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Agricultural Tenancies Act 1995, RICS guidance (ARCHIVED)
The guidance note was published in June 1995. It offers an interpretation of the Act and prompts consideration of other important, related matters. It also provides commentary on the practical application of the Act in relation to RICS Farm Business Tenancy Agreements.
The supplementary guidance note, which published in 1998, complements and updates the Guidance note on the 1995 Agricultural Tenancies Act and should be read in conjunction with it. It deals with subsequent developments following the introduction of the Act and responds to the wealth of useful information and practical advice received by RICS in response to the original guidance.
RICS Farm Business Tenancy Agreements have continued to evolve. The latest editions can be accessed on isurv at http://isurv.com/site/scripts/documents.aspx?categoryID=104
This document is no longer current and is available on isurv for information only. -
Appointing a quantity surveyor in Scotland
This guide is designed specifically for clients and professionals in Scotland. It provides information on appointing a consultant in Scotland for both the private and public sectors. It contains: a form of agreement with terms of appointment; a form of enquiry; a schedule of service; and a guide to the fee offer.
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Asbestos
Published May 2021
Effective from 1 August 2021
Reissued October 2022
The widespread use of asbestos has implications for property professionals working in all sectors and can impact on all stages of a building’s life cycle.
This professional standard contains a comprehensive overview of the legislation and industry guidance that govern the complex subject of asbestos. It provides guidance on the dangers asbestos poses to health and businesses, and sets out best practice advice to assist property professionals in complying with the regulations and implementing an effective management plan to ensure that they do not put themselves or others at risk.
The standard is not intended to advise members specially in the undertaking of asbestos surveys. Guidance on such surveys is set out in the HSE publication HSG264 Asbestos: The survey guide.
This document was reissued in October 2022 as a professional standard. It had previously been published in May 2021 as a guidance note. The regulatory requirements remain the same and no material changes have been made to the document. -
Auctioneers selling real estate (incorporating Common Auction Conditions)
Published: March 2018
Reissued: October 2023
This 7th edition includes the following revisions and features: now a professional standard not a guidance note, Common Auction Conditions has been incorporated at the end of the professional standard and revised guidance on guide prices following recent decisions from the Advertising Standards Authority.
This edition focuses on England and Wales.
This document was reissued in October 2023 as an RICS professional standard. It had previously been published in March 2018 as a professional statement. No material changes have been made to the document. -
Building surveys and technical due diligence of commercial property (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note was prepared to provide surveyors and clients with a source of information and guidance in respect of commercial and industrial property surveys. Such surveys may also include large residential apartment buildings.
This guidance was written to apply to England and Wales. -
Surveys of residential property (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note provides a clear, flexible framework for practitioners to develop their own services the public can trust, consistent with the quality standards expected from RICS members.
In May 2016, this guidance was updated and reissued by RICS. Changes made with immediate effect relate to:
- Liability caps: it is generally wise to include some form of limitation of liability in the contract letter, providing a cap on the amount of compensation the surveyor (or their employer) may be found liable for. This is now provided for in section 5 and Appendix A.
- Cancellation rights: members should take legal advice to ensure the Contract letter is compliant with legislation relating to a 'cooling off' period in accordance with the Consumer Contracts Regulations 2013. This is also now provided for in section 5 and Appendix A.
- Unexpired leasehold term: the assumption at 5.1.8 has been brought into line with RICS Valuation – Professional Standards UK appendix 10 with the unexpired lease term assumption adjusted from 70 years to 85 years
- The sample scope of engagement at Appendix A is not mandatory, but may help practitioners develop documentation that supports clearer client understanding. -
Calculation of fees relating to the exercise of statutory powers in connection with land and property (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note offers guidance on the choice of an appropriate charge to be paid by an acquiring authority as compensation to a claimant in a compulsory purchase. It also offers advice on dispute resolution. -
Surveyors acting as advocates
Published February 2017
Effective from 1 June 2017
The professional statement sets out the core duties expected of the surveyor-advocate. It applies where you agree (whether in writing or orally) to act as a surveyor-advocate before any tribunal in England, Wales or Northern Ireland.
The guidance note offers guidance on fundamental aspects of advocacy practice. It outlines general duties and roles and offers best practice advice on, among other things, case preparation and preliminaries, evidence and documents, and hearings.
A client guide (a stand-alone electronic version of the professional statement) is also available. -
Code of measuring practice
Published: September 2007
Reinstated: 23 January 2018
Effective from: 23 January 2018
Code of measuring practice, 6th edition was reinstated on 23 January 2018 after publication of RICS property measurement, 2nd edition.
The 6th edition of the code became effective globally from 18 May 2015 when it was incorporated into the first professional statement, that for offices. -
Commercial investment property: valuation methods (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This 1997 information paper intended to aid valuers' understanding of various methods and their application.
The examples used are intentionally simplified in order to introduce mathematical concepts. In practice, the methodology would need to be adopted and extended to reflect market perceptions and real-world costs. -
Contamination, the environment and sustainability: Implications for chartered surveyors and their clients (ARCHIVE)
This document has been archived and is available on isurv for information purposes only.
The challenges presented by contaminated land and environmental issues, such as the flood risk caused by climate change, and the need to live in a more sustainable way mean that the demand for best advice has never been more important. Surveyors are uniquely placed to provide this advice to clients in all property sectors.
This guidance note aims to support and guide the professional activities both of those who are already highly proficient in this area and also those who are less experienced.
This publication was reviewed and a new standard was published in 2018: 'Environmental risk and global real estate'. -
Contracts (Rights of Third Parties) Act 1999 (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The Contracts (Rights of Third Parties) Act 1999 changes a basic principle of English law, namely that only parties to a contract can enforce rights under that contract - the 'privity of contract' rule. This RICS information paper clarifies some of the issues that have come to light as a result of this change. -
Dilapidations
Published September 2016 (E&W) and March 2015 (Scotland)
Effective from December 2016 (E&W) and March 2015 (Scotland)
Reissued December 2023
This professional standard seeks to advise members on the factors they should take into consideration when producing Schedules of Dilapidations, Quantified Demands, Responses, Scott Schedules and Diminution Valuations for reference to or use by the client, the other party to the lease, third parties and tribunals.
Dilapidations in England and Wales was reissued in December 2023 as a professional standard. It had previously been published in September 2016 as a guidance note. No material changes have been made to the document.
Dilapidations in Scotland was reissued in December 2023 as a professional standard. It had previously been published in March 2015 as a guidance note. No material changes have been made to the document. -
Direct professional access to barristers (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
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Environmental Impact Assessment (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Environmental Impact Assessment (EIA) is a statutory tool for assessing the environmental impacts of development projects, and identifying measures that can be taken to reduce these impacts. EIA has been established in the UK since 1988, and has been made a statutory requirement for certain projects by the implementation of two key European Directives (Directive 85/337 The assessment of the effects of certain public and private projects on the environment and the subsequent Directive 97/11).
This guidance note provides an overview of the EIA process and considers the potential role of RICS members. Chartered Surveyors should be conscious of the EIA process, either as an integrated part of the planning/permitting process or as a separate procedure, and of the detailed differences for example in the nature and scale of proposals subject to EIA. -
E-tendering
Published: December 2010
E-tendering provides a framework where both clients and tenderers can reduce their costs, remove unnecessary administration and streamline the overall tendering process. This guidance note provides useful best practice information on e-tendering for anyone involved in the tendering and procurement process. Appendices include a glossary of terms, sample materials, checklists and where to find out further information regarding the implementation of e-tendering within your enterprise.
This is part of the RICS QS and construction standards (the 'Black Book').
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Farm Business Tenancy Agreements 2012 (ARCHIVED)
These previous 2012 Agreements are now out of print and on isurv for information purposes only.
The current Agreements are the 2021 versions. -
Fixed plant (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The term 'fixed plant' is widely used, especially in the context of accounting, taxation and rating. However, it is not easily defined and frequently means different things to different people. It is important to be clear about the distinction between plant, fixed plant, fixtures and chattels, as it has vital implications in property sales, leases, mortgages, taxation and rating. -
Fire damage reinstatement (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The repair of fire damage has much in common with other repair and maintenance works, but presents the surveyor with some particular problems. The form of damage is qualitatively different from that with which he may be familiar. This Information Paper is not intended to provide guidance and advice to surveyors on the manner in which repair works should be implemented. Rather, it highlights the peripheral matters which arise, and aspects which need to be given consideration over and above those matters which normally apply to building works. -
Flat roof coverings
Published October 2011
This information paper provides information on the diagnosis, remedy and prevention of failures in a variety of existing flat roof weathering materials, both continuously supported roof coverings and rigid sheets.
Reference is also made to the various features commonly encountered and their associated faults.
The aim of this information paper is to provide the surveyor with a guide to the identification of a failure/defect in existing flat roof coverings and to assist with the correct diagnosis so that remedial action appropriate to the circumstances can be undertaken. -
Reinstatement cost assessment of buildings
This publication is intended as a guide for surveyors who carry out reinstatement cost assessments of buildings.
The guidance note provides detailed recommendations on: the manner in which assessments should be approached; the nature and extent of the information to be collated;
the manner in which this information should be processed; and how the assessment should be calculated and submitted.
The 3rd edition takes effect from 1 June 2018.
Previous edition(s) are provided for information purposes only. -
Use of GNSS in land surveying and mapping
Published: May 2023
Effective from: 18 June 2023
This standard forms part of a series of specifications and guidelines intended to assist those connected with the requesting, purchasing and production of surveys and mapping material at all scales, by spreading good practice and seeking to avoid duplication of effort.
This document has been written primarily to provide:
- the surveyor with a set of practical operational guidelines, which can be used when undertaking any survey that includes GNSS techniques; sufficient information is also included to allow the surveyor to generate a set of GNSS survey procedures applicable to a survey task required by the client, and
- the client, or purchaser of spatial information generated from a GNSS survey, with sufficient information to write a task-specific specification for a GNSS survey, which sets out the accuracy requirements, products and a scope of work from which the surveyor can accurately produce a bid for the survey. -
Handling home information packs (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The Localism Act 2011 abolished home information packs by repealing Part 5 of the Housing Act 2004 (home information packs).
This guidance note was developed by a partnership including Asset Skills, the Association of Home Information Pack Providers (AHIPP), the National Association of Estate Agents (NAEA) and RICS. The recommendations were developed to reflect best practice and were not mandatory for either RICS or NAEA Members. -
Handling tenant's applications for approval to alterations (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
A landlord (or more likely his managing agent) will be faced from time to time with a situation in which his tenant applies for consent to make alterations to the leased property. Sometimes it will be found on examination that no formal consent is required under the lease, that the works are de minimis or that the tenant is merely advising the landlord of his proposals as a matter of courtesy. In these cases, a polite acknowledgement may be all that is needed. More frequently the tenant will require consent. -
Party wall legislation and procedure
Published July 2019
Effective from 1 October 2019
Reissued May 2023
This standard provides guidance for RICS members who accept instructions for which the Party Wall etc. Act 1996 (the Act) may be relevant. It also describes the circumstances in which the Act will apply, as well as the procedures to be followed where it does.
The new 7th edition, which is effective from 1 December 2019, contains an in-depth and important section on professional conduct. While a party wall surveyor is minimally required to act only in accordance with their statutory obligations, an RICS member is expected to meet RICS expectations of professional and ethical behaviour commensurate with their membership, alongside their duty to conform to the Act.
The appendices contain various draft letters and draft notices and a revised and updated suggested draft award. -
Planning enforcement (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
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The making of planning applications (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the relevant RICS Professional Group. -
Practice management guidelines (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The Practice management guidelines, 3rd edition was aimed at small to medium practices and intended to assist in the day-to-day running of the business. -
Principles of measurement (international) for works of construction (ARCHIVED)
A set of principles of measurement is essential to reduce widely varying practices and consequent disputes. Although there are an increasing number of contract documents requiring bills of quantities, often there is no framework within which they can be prepared, nor a commonly agreed basis of measurement. These principles, prepared by the RICS, provide a uniform basis of measurement. They are suitable for use where existing rules are inappropriate or where no rules exist.
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Private finance initiative (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Chartered surveyors have considerable opportunities to support the success of PFI. This guidance note aims to show what type of opportunities exist for the chartered surveyor in PFI, as well as providing a current statement of PFI policy and practice. -
Project management agreement and conditions of engagement
Published 1992
This document has been designed as a model agreement and conditions of engagement for use by client and project managers. The project manager is regarded as an independent professional, but there are differences of opinion as to the responsibilities he or she has and the services he or she provides.
This agreement has been written on the basis of the generally recognised situation in the construction industry where the person or company in the position of project manager coordinates other consultants appointed directly by the client. A distinction between project management and project co-ordination is made by RICS Insurance Services Limited (RICSIS). If the project manager appoints other consultants, RICSIS defines the service as project management. If the client appoints other consultants, the service is defined as project co-ordination. It is to be used in conjunction with Memorandum of agreement between client and project manager and conditions of engagement also presented here. -
Project monitoring
Published March 2007
Effective from March 2007
Project monitoring is distinct from both project management and construction monitoring, and can be defined as: 'protecting the client's interests by identifying and advising on the risks associated with acquiring an interest in a development that is not under the client's direct control.'
This guidance note considers the typical things that a project monitor will advise upon, including:
- land and property acquisition matters
- statutory consents; competency of the developer, its team and any proposed project management systems
- financial appraisals
- development, finance, consultancy and construction agreements
- construction costs and programmes and
- design and construction quality. -
Rating appeals (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note provides an outline of the rating appeal system in England and Wales, describing the various processes involved in making a proposal to alter a rating list. It also offers best practice advice to surveyors who may be required to appear before Valuation Tribunals (VT) either on behalf of a ratepayer client or as, or on behalf of, a valuation officer (VO) when dealing with an appeal arising from a proposal to alter a rating list.
This guidance note should be applied in conjunction with the joint RICS/IRRV/RSA Rating consultancy code of practice, 4th edition, March 2017, which has been adopted as a mandatory professional statement of RICS. -
Rating consultancy code of practice
This code of practice has been jointly adopted by the Royal Institution of Chartered Surveyors (RICS), the Institute of Revenues, Rating and Valuation (IRRV) and the Rating Surveyors’ Association (RSA).
With the aim of improving consumer protection and maintaining professional standards, the code sets out the standards of practice that rating consultants must adopt in all cases where they are either seeking instructions, or are approached by a new or existing client, to provide advice in relation to non-domestic rating matters.
It has mandatory application in relation to rating consultancy work.
The fourth edition of this code of practice is effective from 1 April 2017. -
Surveyors' construction handbook: introduction and index (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: the client's roles and responsibilities (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: value engineering (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: pre-contract cost planning and cost management (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: life cycle costing (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: elements for buildings (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: design and build – guidance for employer's agents (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: the chartered surveyor as lead consultant (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: defining sustainable construction (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: developing an appropriate building procurement strategy (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: building services procurement (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: the problems of practical completion (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: ascertaining the amount of loss and expense incurred in building projects (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: the management of risk (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: valuations for interim certificates (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: extension of time (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: surveying safely (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Surveyors' construction handbook: electronic document storage - legal admissibility (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Service charges in commercial property
Published September 2018
Effective from April 2019
Reissued September 2023
This professional standard sets a marker for the standards of management required in commercial property and provides mandatory obligations that RICS members and regulated firms engaged in this area must comply with. It has been endorsed by property bodies representing all sides of the property industry and widely acknowledged as a significant step forward for the property industry.
This document is effective from 1 April 2019.
The aims and objectives of this professional standard are to:
- improve general standards and promote best practice, uniformity, fairness and transparency in the management and administration of services charges in commercial property
- ensure timely issue of budgets and year-end certificates
- reduce the causes of disputes and to provide guidance on resolution and
- provide guidance to solicitors, their clients (whether owners or occupiers) and managers of service charges in the negotiation, drafting, interpretation and operation of leases, in accordance with best practice.
Although this document is a first edition professional standard, it supersedes the previous three editions published as codes of practice from 1 April 2019.
This document was reissued in September 2023 as a professional standard. It had previously been published in September 2018 as a professional statement. No material changes have been made to the document. -
Service charge residential management code
Published 2016
Effective from 1 June 2016
The RICS Service Charge Residential Management Code 3rd edition was approved by the Secretary of State under section 87(7) of the Leasehold Reform, Housing and Urban Development Act 1993.
The Code applies only to residential leasehold properties in England but it deals with flats, houses and all other dwellings whether in towns or in the country, on estates, in groups or on their own. It covers all lengths of leases and statutory tenancies where variable service charges are payable. The Code does not apply where the landlord is a public sector authority, or a registered social landlord, but it does apply where a public sector authority or registered social landlord is an agent managing for a private sector owner. -
Stock condition surveys (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
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Surveyors acting as arbitrators and as independent experts in commercial property rent reviews (ARCHIVE)
This document has been archived and is available on isurv for information purposes only.
See the latest editions:
- Surveyors acting as arbitrators in commercial property rent reviews, 9th edition (2013).
- Surveyors acting as independent experts in commercial property rent reviews, 9th edition (2014). -
Surveyors acting as arbitrators in construction disputes
Published April 2017
Effective from 3 July 2017
Reissued April 2023
This professional standard applies to RICS members appointed to act as arbitrators in disputes relating to construction works. It should also be of assistance to parties involved in arbitration, and those acting for them, by making them aware of the procedures that may be followed.
It includes:
- the fundamentals of arbitration and the powers and duties of an arbitrator
- the agreement and commencement of proceedings
- appointment of the arbitrator
- setting procedure
- the interlocutory period
- the hearing and award
- termination/post award.
This document was reissued in April 2023 as a professional standard. It had previously been published in April 2017 as a guidance note. No material changes have been made to the document. -
Surveyors acting as expert witnesses
Published April 2014
Effective from 2 July 2014
Reissued February 2023
Surveyors acting as expert witnesses, 4th edition, applies to surveyors when providing expert evidence, whether oral or written, before a range of courts and tribunals in the UK,
The practice statement sets out the mandatory duties of a surveyor in providing evidence, while the guidance note provides further information on good practice, including: the need for clear instructions and terms of engagement; fees; guidance on what to do in situations of conflict of interest; an outline of the written report format; clarification of the differences between the roles of expert witness and advocate; and the immunity of the expert witness.
A stand-alone electronic version of this practice statement (without the guidance note) is also available for potential use with clients in connection with the particular requirement of PS 3.3.
This document was amended in February 2023 to remove wording from PS10 and GN19 which could be read as prohibiting expert witnesses from taking instructions from solicitors who are engaged on a conditional fee, even if the expert is instructed on an unconditional fee basis. This was not the intention of RICS and has therefore been amended for clarity. -
Measured surveys of land, buildings and utilities
Published November 2014
Effective from 8 December 2014
Reissued April 2024
This professional standard is designed for use by land, engineering and measured building surveyors who are acting in an advisory capacity and by survey knowledgeable clients who specify their own surveys.
This third edition supersedes the second edition. One of the primary changes from the second edition is the use of survey accuracy band, which takes into consideration client requirements for scale independent metadata and digital data handling environments.
This professional standard covers:
- project information
- survey accuracy, control, coordinate grid and datum
- topographic surveys
- measured building surveys
- underground utility surveys
- monitoring and deformation and
- deliverables. -
Terms and conditions of contract for land surveying services (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This document contained the main contractual terms and conditions for survey contracts, for small- to medium-sized projects, where a longer and more complex general contract was not required. -
Mundic problem
Provides guidance for surveyors and other professionals likely to encounter cases of mundic in the south west of England. It outlines a rationale for the classification of samples to help lenders distinguish between those properties accepted as mortgageable and those that are not. It also details developments in the testing of concrete samples for evidence of mundic.
This third edition of the guidance replaces the second edition with effect from 1 January 2016. Please note this version is a reissue of the guidance note first published in March 2015. The main focus of the changes relate to suggested sampling options contained in Annex B3. -
RICS HomeBuyer Service
RICS HomeBuyer Report 2011 practice note Scotland was published in December 2011 and is still in effect.
Previous editions have been archived and are available on isurv for information purposes only. -
Valuations for right to buy, right to acquire and equity sharing of social housing (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
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Waste management – a guide to landfill (ARCHIVE)
This document has been archived and is available on isurv for information purposes only.
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Valuations for financial statements under UK GAAP (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
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VIP 10 Depreciated replacement cost method of valuation for financial reporting (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Formerly VIP 10, The depreciated replacement cost method of valuation for financial reporting, this was incorporated into the Red Book in 2011. -
Capital and rental valuation of fuel stations (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Fuel stations are among those types of property generally referred to as 'trade-related property'. They are normally bought and sold having regard to their trading potential. Guidance on the valuation of individual trade related properties in the RICS Red Book considers the criteria to be adopted by valuers when assessing the value of an individual trade-related property.
It relates to a wide range of trade-related property, including fuel stations. The terms defined in that guidance are used in this information paper, which deals with its application to the valuation of fuel stations, including those that are allied to convenience stores or are part of more complex properties such as motorway service areas, where it is assumed that trading will continue. It has been written specifically with regard to the law and practice in England, Wales and Scotland. -
Capital and rental valuation of hotels in the UK (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Previously referred to as Valuation Information Paper (VIP) 06, the 2nd edition information paper focuses on a specific group of trade related property, namely hotels. Although it is not intended to be fully comprehensive, it considers the general approach to be adopted for the capital and rental valuation of hotels in the UK, commenting on the different valuation methodologies and the practical approach to the assembly and interpretation of relevant information for this purpose. -
Valuation of rural property
Published July 2019
Effective from 1 July 2019
Reissued October 2022
This professional standard applies to rural property in the UK only. For the purposes of this guidance, rural property means commercial farms and farmland, all forms of rural landed estates and residential property in the countryside with land attached.
This professional standard is primarily intended to remind registered valuers of matters that should be considered when completing a valuation of rural property. It is not intended as a substitute for training and experience or a short cut to meeting the requirements of the various applicable RICS professional standards. It may also be of use to clients in understanding the work and role of the rural property valuer and assist in arriving at properly agreed instructions.
The client base for rural property valuations can include:
• farmers
• landowners (private and public)
• estates
• lenders and other institutional clients
• developers
• investors
Some will have intimate knowledge of the industry and others less so. While the requirements of RICS Valuation – Global Standards (RICS Red Book Global Standards) will need to be met in every case, valuers will need to consider the individual requirements of each client carefully, both in terms of settling instructions and the level of detail and advice they include in their reports.
This document was reissued in October 2022 as a professional standard. It had previously been published in July 2019 as a guidance note. The regulatory requirements remain the same and no material changes have been made to the document. -
Leasehold reform valuation in England and Wales
Published August 2015
Effective from 1 December 2015
Archived 12 March 2024
RICS is aware of current and pending government and regulatory reform of residential leasehold. 
Valuers are reminded that they need to be aware of the latest market and legal position prior to undertaking work related to this area.
RICS are currently reviewing leasehold reform valuation guidance for members. The 2015 guidance has now been withdrawn.
Valuation undertaken by RICS members must continue to be undertaken in accordance with RICS Valuation – Global Standards, noting that some elements of leasehold reform valuation such as ‘Providing valuation advice expressly in preparation for, or during the course of, negotiations or litigation’ (PS1 section 5), are excepted from mandatory technical standards.
Leasehold reform valuations are specialist in nature and valuers must be appropriately qualified and competent.
RICS continues to engage with government, industry and valuation professionals on leasehold reform matters and has made a number of statements, including:
- Reforming Ground Rents in England and Wales
- Residential ground rent investment – UK valuation leaders forum commentary
Former editions are provided for information purposes only. -
VIP 08 The analysis of commercial lease transactions (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Formerly VIP 8, The analysis of commercial lease transactions, this was incorporated into the Red Book in 2011. -
VIP 09 Land and buildings apportionments for lease classification under international financial reporting (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Formerly VIP 9, Land and buildings apportionments for lease classification under International Financial Reporting, this was incorporated into the Red Book in 2011. -
Surveyors acting as arbiter or as independent expert in commercial property rent reviews (Scotland) (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
See the latest editions:
- Surveyors acting as arbitrators in commercial property rent reviews in Scotland, 9th edition.
- Surveyors acting as independent experts in commercial property rent reviews in Scotland, 9th edition. -
EDM calibration (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This document was prepared by RICS with the aim of providing professional surveyors with background information and guidelines as to acceptable procedures for calibration and testing of electromagnetic distance measurement (EDM) instruments. -
VIP 12: Valuation of development land (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper discusses the approach to the valuation of property where the proposed development is of a cleared, or greenfield site, or the site is to be redeveloped by removing all, or substantially all, of the existing buildings and constructing new buildings. It does not apply to redevelopment based on a refurbishment of existing buildings, with limited demolition. -
Money laundering guidance (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The RICS guidance was replaced by the HMRC guidance on the Regulations and RICS will not update this guidance further.
Go to: www.gov.uk/money-laundering-regulations-introduction
This guidance provided a general introduction to preventing money laundering, terrorist finance, bribery, and financial sanctions. It was co-authored by the National Federation of Property Professionals, Royal Institution of Chartered Surveyors, Association of Relocation Professionals, and the Association of Residential Managing Agents. It explained how to interpret and implement anti-money laundering requirements in practice. -
Strategic public sector property asset management
Published 6 September 2021
Effective from 6 September 2021
Reissued October 2022
The way we view buildings has changed. The social context of real estate has changed. The challenges facing those working in the built environment have never been greater, and the public-sector estate is critical in this change. While cost is still crucial, it is no longer the only strategic consideration in building operations: cost and experience must be aligned. Value is the objective and data is key.
This RICS document is intended for those engaged in strategic property asset management in the public sector around the world. It considers the changing nature of the role that real estate plays as well as the expectations about it, and it indicates how an organisation should use data to support organisational objectives and inform the strategic asset management.
There will be no going back to historic practices for public-sector real estate. It will be up to our profession to shape its recovery, effect positive change, keep it relevant and demonstrate the value it provides. This RICS document will support our work in doing so.
This document was reissued in October 2022 as practice information. The regulatory requirements remain the same and no material changes have been made to the document. -
Common auction conditions for real estate auctions
Published: March 2018
This document has been produced by RICS to set consistent practice across the industry.
Where the auctioneer is a member of RICS and uses the Common Auction Conditions, the auctioneer must also comply with the current RICS standards and guidance for Auctioneers selling real estate. An auctioneer who is not a member of RICS is not bound by this guidance.
You may use the Common Auction Conditions freely, but if you do you must:
Rely on your own legal advice as to their suitability for your use
Agree that the Royal Institution of Chartered Surveyors and those who advised it have no liability to you or anyone who relies on the Conditions
Reproduce the Common Auction Conditions in full or show clearly where you have made changes to them
Acknowledge that they are reproduced with the consent of RICS
State that you have used the Common Auction Conditions (4th edition) -
Surveyors acting as adjudicators in the construction industry
Published January 2017
Effective from January 2017
Reissued April 2023
This professional standard applies to RICS members who are either nominated by RICS or another adjudicator nominating body (ANB), or appointed directly by the parties, to adjudicate disputes relating to works carried out under a construction contract and works carried out under a contract to which the Construction Act does not apply, but under which the parties have agreed a contractual mechanism to enable them to adjudicate disputes.
It is also intended to assist the parties and those acting for them by making them aware of the procedures likely to be followed in an adjudication.
It includes:
- a general introduction
- appointment and acceptance
- nomination by RICS
- appointment by the parties
- objections to nomination/appointment
- powers and duties of the adjudicator
- establishing the procedure
- evidence
- other procedural matters
- the adjudicator's decision.
This document was reissued in April 2023 as a professional standard. It had previously been published in January 2017 as a guidance note. No material changes have been made to the document.
Surveyors acting as adjudicators in the construction industry when Scot Law applies:
Published April 2018
Effective from April 2018
Reissued October 2023 -
Carbon management of real estate (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance outlines how carbon management can provide real commercial returns as well as making a significant contribution to climate change. -
RICS Forms of Consultant's Appointment (England and Wales) (ARCHIVED)
These documents have been archived and are available on isurv for information purposes only.
The latest edition was published in May 2022 and is available to download from: www.isurv.com/info/1557/rics_forms_of_consultant_appointments -
Independent compliance auditing for RSLs (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note was prepared in agreement with the Housing Corporation. -
Form and structure of mineral option and lease (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note is now out of date and held on isurv for information purposes only. It was aimed at professionals in the field of negotiations for rights to minerals and also touches on leases of void space. It is generally biased to those working for the landowner, however, it can also inform the tenant and its professional advisers. The guidance note serves to remind us of what the basic building blocks of a mineral lease comprise. It also reminds us that there is no such thing as a standard mineral lease. Hence each case should be considered on its individual merits. -
Auctioneers proposing to sell plant and machinery at public auction in England Wales and Scotland (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This RICS guidance note provides best-practice advice for chartered surveyors conducting public auctions of plant and machinery.
It deals with the preparations for, and conduct of, the auction, including acceptance and agreement of instructions; pre-auction work; the auction itself; post-auction procedures; complaints handling and disputes resolution; and legal responsibilities. -
Selling personal property at auction (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The emergence of personal property/art and antiques as an important and valued asset has brought substantial attention to auction houses. Today, sales records are continually being broken at our auctions. It is not unusual for works of art, antiques, jewellery or collectibles to realise multi-millions of dollars on a daily basis at auction. This immense international market is also one of the most unregulated areas of commerce existing today. This guidance note intends to enhance and secure public trust, a primary directive for RICS and one of its core values.
Topics covered include:
- before the sale
- pre-auction
- the sale
- after the sale
- post-auction
- property governed by special statutes
- conditions of business
- statutes
- cataloguing practice
- legal responsibilities -
RICS Appraisal and Valuation Standards, 5th edition (including amendments) (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
ARCHIVED CONTENT: The original RICS Appraisal and Valuation Standards, 5th edition effective 01/05/2003.
Including:
Amendment 1 (effective 01/05/2003)
Amendment 2 (effective 01/09/2003)
Amendment 3 (effective 01/12/2003)
Amendment 4 (effective 31/05/2004)
Amendment 5 (effective 31/01/2005)
Amendment 6 (effective 01/07/2003)
Amendment 7 (effective 31/01/2006)
Amendment 7.5 (effective 01/06/2006)
Amendment 8 (effective 20/09/2006)
Amendment 9 (effective 01/07/2007)
Amendment 9.5 (effective 01/08/2007)
For the current edition of Red Book see: www.isurv.com/redbook -
RICS Valuation Standards, 6th edition (including amendments) (ARCHIVED)
RICS Valuation Standards (The Red Book) contains mandatory rules, best practice guidance and related commentary for all RICS members undertaking valuations of property, plant and equipment. The content of the Red Book is supervised by the RICS Valuation Standards Board (VSB).
The Red Book includes global valuation standards and guidance applicable to all RICS members worldwide, along with standards and guidance for valuation in the UK.
The Red Book, 6th edition was effective from March 2009.
For the current edition of Red Book see www.isurv.com/redbook -
Duty of care deeds and commercial property (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This paper gives an outline on the principal issues arising with regard to duty of care deeds. It does not form specific legal advice for your particular situation. Duty of care deeds and the legal issues they raise are complex and will vary depending on the documentation. Therefore, you should not rely upon this paper as legal advice. You should always consider obtaining specific legal advice. -
Limiting liability in property management contracts (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Property managers manage a high value, complex asset. This means that they are vulnerable to dispute and litigation. Therefore, it is important for property managers to actively manage their risk. A key part of risk management is getting the content of the contract right.
This information paper is intended to briefly explain the principles of liability under English law, how such principles relate to property management contracts and how you should consider addressing liability in your standard contracts. Sample model clauses and examples are included. Please note, however, these are not definitive and you will need to tailor the clauses to your specific situation. -
Sinking funds, reserve funds and depreciation charges (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Sinking funds, reserve funds and depreciation charges are all ways of making financial provision for future repairs or replacements.
This 2nd edition information paper is in three sections. The first section addresses matters that owners, occupiers, managers and drafting solicitors might like to consider. The second section provides further information in support of the RICS Code of Practice, Service charges in commercial property (‘the Code’). The third section (see appendix A) sets out suggested service charge lease provisions that have been specifically designed to comply with the principles and provisions of the Code. -
Service charges and tenant alterations (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The fair and equitable apportionment of the costs incurred by a landlord in dealing with common parts, works and services is often relatively straightforward. The most common and simplest method of apportionment is based on floor area, i.e. the proportion the tenant bears is the ratio that the floor area of the premises bears to the aggregate floor area of the whole building or scheme.
However, where a tenant carries out alterations to premises which increases (or decreases) the floor area of the premises (e.g. the installation or removal of a mezzanine floor within the tenant's demise) issues can arise as to the extent to which the tenant's proportion of the landlord's service charge should be increased or decreased, and the potential impact upon the proportion of the service charge payable by other tenants. -
Letting of residential property in the private sector (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Letting of residential property in the private sector (4th edition) is now out of date. It is held on isurv for information purposes only. -
Valuation of individual new-build homes
Published December 2019
Effective from 2 December 2019
Reissued May 2023
The valuation of residential property for mortgage purposes is well understood, but the new-build sector is constantly evolving and becoming increasingly complex.
The aim of this professional standard is to assist RICS members in achieving a consistent approach to the valuation of new-build property. It is specifically for use in the UK, however, RICS members and RICS regulated firms in other countries may find the processes of valuation discussed helpful and adaptable to their local circumstances.
This document applies to all property that falls under the definition of ‘new-build’. This includes both property that has yet to be owned for the first time, and properties to be owned for the first time in a new form. It therefore covers property that is a new construction, a conversion or that results from a comprehensive renovation.
The property may take the form of one unit on a large, part-developed site, a one-off new home or a conversion of a former building. For all these types of property, the approach to the valuation will be broadly similar.
This document was reissued in May 2023 as a professional standard. It had previously been published in December 2019 as a guidance note. No material changes have been made to the document. -
Renewable energy (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Commissioned by the rural professional group and published by RICS in April 2009, this information paper was an update and upgrade of the Renewables briefing paper originally published in 2007. It was designed to meet the immediate needs of non-specialist surveyors in the UK who do not have detailed knowledge of renewable energy issues and to act as a resource guide for those seeking to make a basic assessment of the options for farmers and householders, and not as a comprehensive guide to renewable energy. -
Building maintenance: strategy, planning and procurement (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note deals with the strategic and procedural matters that need to be considered when carrying out such building maintenance works. -
Rent only residential management code (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This RICS guidance note provides good-practice advice on the management of residential property.
It is written for all professionals working in this field, such as managing agents and landlords. It is also intended to be used by residents, owners of property and providers of services to such properties.
The Code provides a basis for determining and understanding how management should be undertaken. The new edition has been fully revised and now includes a glossary of key terms. -
Sustainability and the RICS property lifecycle (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The chartered surveying profession has long had a role and reputation as being the custodian of the built and natural environment. With a body of knowledge and expertise built up over many years, RICS members are at the core of decision-making on the built and natural environment.
RICS recognises that sustainability should be considered throughout the property lifecycle. The interrelationships of the five phases in the property lifecycle - greenfield and estate management, planning and procurement, new construction, occupation and use (including refurbishment and alterations), demolition and remediation - are critical to achieving sustainability for the property profession.
This document details how sustainability can be embedded into the RICS property lifecycle and provides a resource for engaging our members in sustainability in promoting a positive contribution to our pursuit of sustainable land, property and construction.
This guidance note primarily examines the sustainability interventions and opportunities property professionals can put forward during the design and construction of a building project.
It also forms a starting point for further guidance aimed at the RICS property lifecycle stages. -
Boundaries: procedures for boundary identification, demarcation and dispute resolution
Published February 2021
Effective from 1 May 2021
Reissued October 2022
Disputes about boundaries, and related neighbour disputes, are never far from the news and have been increasing steadily during the COVID-19 period in England and Wales. Boundary disputes can be costly, traumatic and time-consuming for all concerned; they can end up in expensive legal cases, leave a lingering mistrust and ill-feeling between neighbours, result in delayed development and additional costs, and cause confusion between professionals. They never fail to light up the letter pages of the tabloids, and the constituency postbags of MPs.
It is critical that RICS members, and other professionals working within this sector, are up to date with the latest best practice advice and guidance. This new 4th edition encompasses all that was best from the seminal 3rd edition, with a new emphasis on mediation, and has been reformatted and edited to include several new and expanded sections.
This document was reissued in October 2022 as a professional standard. It had previously been published in February 2021 as a guidance note. The regulatory requirements remain the same and no material changes have been made to the document. -
RICS Manual of Estate Agency (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
ARCHIVED: With effect from 1 August 2009, the RICS Manual of Estate Agency Law and Practice (2nd edition) was superseded by the Blue Book. For reference purposes, a PDF of the RICS Manual of Estate Agency Law and Practice can be accessed here. -
Apportionment of service charges in mixed-use developments (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper was written to address new developments where the service charge apportionment strategy can be constructed simultaneously with the lease documentation. The principles it sets out can be used when considering revising the Apportionment of existing developments where the existing leases do not allow for apportionment to be amended. But consequent complications must be taken into account.
Whatever the circumstances the resultant apportionment strategy must be clearly and transparently set out. It must enable all parties to understand the basis of apportionment and allow for future modifications in the event that circumstances change making a revised apportionment strategy necessary. -
Development management
Published: August 2009
This guidance note is primarily aimed at project management surveyors and has two purposes:
(1) to set out the main phases of the development management process and the main activities included in each phase; and
(2) to provide specific guidance on the following issues that will impact upon the development process: development appraisal; planning application processes; development finance; and procurement. -
Sustainability and ESG in commercial property valuation and strategic advice
Published December 2021
Effective from 31 January 2022
This global professional standard provides a practical framework for delivering on sustainability and ESG investigation, and reporting requirements in professional valuation advice.
Please note, this was reissued in October 2022 as a professional standard. It was previously published as a guidance note. The regulatory requirements remain the same.
Practical and globally relevant principles for the delivery of the sustainability and ESG requirements in the Red Book Global Standards.
- Good practice advice supporting everyday commercial valuation practice and its interface with ESG and sustainability.
- Alignment of ESG and sustainability considerations with the core mechanics of valuation (purpose, basis, approach).
- A glossary of globally relevant sustainability and ESG terms and an appendix referencing world-leading rating, benchmarking and performance frameworks and tools.
The updated guidance is part of a suite of professional standards for sustainable practices across the built and natural environment. For example, ICMS 3, for the comparison of cost and carbon in construction. And the Responsible Business Framework, which enables clients to build and communicate a responsible business strategy mitigating negative environmental and social impact.
It is an update to the guidance issued in 2013 and is intended for valuing commercial property. It will be reviewed and updated periodically – reflecting pending developments in International Valuation Standards and the wider investment and regulatory framework globally. -
Flooding – issues of concern to chartered surveyors (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The purpose of this information paper is to provide chartered surveyors in England and Wales with background information on the issues involved in flooding and flood defence. Although the primary focus of this report is on flooding in or from rural areas, it is recognised that rural and urban areas are linked through the floodplain, and that the consequences of action within one area can cause flooding elsewhere. -
Historic building conservation (ARCHIVED)
Published September 2009
Effective from 1 October 2009
Archived April 2024
This document has been archived and is available on isurv for information purposes only.
This guidance note should be used by any RICS member practising or working on old and traditionally constructed building or structures. One in five buildings in the UK date from before 1914, meaning that surveyors of all disciplines are likely to encounter such buildings at some stage in their career.
General guidance does not cover all situations and the practitioner's skill will lie in tailoring his or her knowledge to suit each case. The diverse nature of historic buildings and the owner and user's interests in them means that surveyors working in this field, however briefly, require a rounded understanding of the whole subject before any truly successful solution can be identified. The section on the philosophy of historic building conservation is intended to help equip the competent surveyor to balance apparently conflicting demands in the best interests of owners and the wider community. -
Electronic document management (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note was prepared in response to the growth in electronic document exchange and storage. Without some form of structured methodology, the task of managing information through the traditional document lifecycle is virtually impossible.
There are a number of Electronic Document Management Systems (EDMS) providing the basis of a structured system. The question for practitioners is, what form should a system take, and which system is best for a particular project? While there is no single system, there are some general recommendations on good practice.
This guidance note is part of the RICS QS and construction standards (the 'Black Book').
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Construction insurance (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Best practice for property professionals regarding construction insurance in relation to construction projects – from the initial development stage, through to completion.
This is part of the RICS QS and construction standards. -
Spatial planning and infrastructure delivery (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Spatial planning has a central role in the planning and delivery of infrastructure. It is concerned with all investment and includes the private, public and community sectors. This extended role in infrastructure planning and delivery now sits within the whole governance structure at the local level, which is increasingly being joined up and coordinated. Spatial planning also extends to the use of all public sector assets and the location of services and facilities. It is concerned with all public sector mainstream budgets, as well as funding from agencies such as the Homes and Communities Agency (HCA), private investment and developers' contributions. -
Energy strategies for rural businesses (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The Rural Professional Group developed this guidance note for RICS members advising clients or employers in the rural sector on the development of energy strategies for their estates, land and buildings. It was primarily written for members practising in the UK. -
Environmental liabilities directive (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
As chartered surveyors will be aware, there is a greater level of environmental protection and regulation than ever before. The Environmental Damage (Prevention and Remediation) Regulations 2009 introduced wide-ranging new requirements addressing environmental liability. The Regulations apply to environmental damage or the imminent threat of environmental damage to water, land, protected species and natural habitats, and Sites of Special Scientific Interest (SSSIs). -
Energy from waste (ARCHIVED)
This information paper is now out of date and held on isurv for information purposes only.
-
Planning Act 2008: Delivering infrastructure (ARCHIVED)
This information paper is now out of date and held on isurv for information purposes only.
The Planning Act 2008 aimed to enable more effective consideration and delivery of nationally important infrastructure. It also provided for a levy system for contributions towards community infrastructure generally at a local level but in the case of London, at a strategic level too.
In view of the ongoing development of the provisions made within the Planning Act 2008, this RICS information paper was time sensitive and should only be used as a guide to the broad framework developed at the time the Act was published. -
Surveyors and lawyers involved in tenancy renewals under PACT
Published May 2018
Effective from 1 August 2018
The Landlord and Tenant Act 1954 provides for the terms of a renewal lease to be determined by the courts. PACT is a procedure whereby the determination of all or some of the terms for a renewal lease are (with the consent of both parties) 'delegated' to an independent third party, who may act either as an arbitrator or as an independent expert. PACT is the acronym for 'Professional Arbitration on Court Terms', a generic term intended to convey the scope and nature of the procedure available. This 2nd edition refers to a business tenancy rather than a lease, although the terms are interchangeable. -
Valuation of trees for amenity and related non-timber uses (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note is designed to assist the valuer in dealing with some of the issues that arise when dealing with the presence of trees as part of a property or as separate entities. -
Geospatial information and the surveying profession (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Geographic or geospatial information (GI) has become part of everyday life and is a growing worldwide phenomenon. No longer is GI the preserve of highly skilled professionals; instead many people in society use it on a daily basis, sometimes unknowingly. In-car navigation systems and instant access to satellite imagery through the Internet are just two of the enormous changes that have taken place over the past few years. The proliferation of websites that use maps, images and addresses is a clear indication that GI has become part of the norm for many people. Although many of the examples in this information paper are taken from the UK, the acceleration of GI is a relevant worldwide. -
Valuation of land for affordable housing
Published April 2016
Effective from 28 April 2016
This guidance note aims to assist the valuer in the approach to the valuation of land for affordable housing by focussing on the affordable housing element of a scheme. The methodology behind the valuation of land for affordable housing has much in common with a conventional valuation of development land, therefore this guidance note should be read with an understanding of the contents of VIP 12: Valuation of development land.
The focus is on the valuation of land for housing and flats but the principles are broadly adaptable for other types of affordable housing, such as special needs and sheltered housing accommodation.
This guidance note applies only in England and Wales. It was written specifically with regard to practice in England where affordable housing provision is governed through the planning system. Where it differs, the practice in Wales is noted separately. In Scotland and Northern Ireland affordable housing provision is governed through housing policy. Although provisions there may differ in detail, the valuation approach is essentially the same and this guidance note may be adapted as necessary. -
Valuing change
Published May 2010
This guidance note summarises what is meant by 'change' and how it is valued under JCT, NEC and FIDIC forms of contract.
This is part of the RICS QS and construction standards (the 'Black Book'). -
SMM7: Standard method of measurement of building works (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
SMM7 has been superseded by NRM 2 (see www.isurv.com/downloads/download/1472/new_rules_of_measurement).
ARCHIVED: The 7th edition of the Standard Method of Measurement was published in 1988. Following experience in use and in consequence of queries raised minor amendments were made in September 1988, May 1989 and May 1992. In 1998 further changes were required. Three amendments were also issued in May 2000 (1 and 2) and in June 2009 (3).
Copyright for SMM7 is now held by RICS. -
Valuation of woodlands and forests
Published March 2023
Effective from 1 June 2023
Valuation of woodlands and forests (2nd edition) empowers professionals undertaking valuations of these assets to consider the evolving array of complex factors that can impact their value. This professional standard outlines the bases of value that can be utilised depending on the purpose of the valuation. It also allows our professionals to maintain and enhance their specialist knowledge and ensure they are best placed to deliver on client demand to understand the value of woodland and forestry assets.
An updated version of this standard was published in May 2023. The updated version applies to Ireland with full endorsement from the Society of Chartered Surveyors Ireland (SCSI).
This professional standard is applicable to the UK and Ireland and is effective from 1 June 2023. -
Discounted cash flow for commercial property investments (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note featured as part of the RICS Valuation Standards (the 'Red Book'), 7th edition, 2011. From 2012 this was removed from the Red Book and maintained as a standalone guidance note. -
Valuation of medical centres and surgery premises
Published September 2010
Effective from 1 October 2010
RICS is aware that the market, practice and regulatory landscape surrounding medical premises is likely to have changed since the publication of this guidance in 2010. We are currently in the process of reviewing it (please email standards@rics.org if you would like to get involved with this). Valuers are reminded that they need to be aware of the latest market, regulatory and legal position prior to undertaking work related to this area and should always undertake valuation work in accordance with the overarching RICS Valuation - Global Standards and Rules of Conduct.
Valuation of medical centres and surgery premises, 2nd edition, is concerned with the valuation of surgery premises, including all medical centres and surgeries occupied by doctors and other similar practitioners for medical or health services.
This guidance note was written with regard to the position in England. The valuation approach is essentially the same in Wales, and Scotland, but where there are differences they are noted.
Note that this guidance note was formerly known as VIP 04 The Valuation of Surgery Premises Used for Medical or Health Services in the UK. -
Rights of light
3rd edition
Published March 2024
Effective from 1 June 2024
2nd edition
Published March 2016
Effective from 1 July 2016 - 31 May 2024
Produced by a cross-professional group specialist panel of associate and chartered surveyors, this guidance deals with easements known as rights of light and outlines current best practice for surveyors in this field.
A right of light as an easement requires various factors to be in in order to create or trigger the formation of the legal right. Due to the legal nature of rights of light, practitioners often work closely with specialist legal advisers.
Members should avoid exceeding the extent of their competence in reporting on legal rather than technical issues. -
Insurance for commercial property managers (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note was designed to outline best practice for property professionals dealing with insurances for commercial property owners.
Since this guidance was published, the former FSA has become two separate regulatory authorities, the FCA and the PRA. -
The capital and rental valuation of public houses, bars, restaurants and nightclubs in England and Wales
Published December 2010
Formerly VIP 2, The Capital and Rental Valuation of Restaurants, Bars, Public Houses and Nightclubs in England, Wales and Scotland, the former edition is provided on isurv for information purposes only.
Public houses, bars, restaurants and nightclubs are among those types of property generally referred to as trade related property. They are normally bought and sold having regard to their trading potential.
Guidance on the valuation of individual trade related properties in the Red Book (see www.isurv.com/redbook) covers a wide range of trade related properties. It considers the criteria to be adopted by valuers when assessing market value or market rent for an individual trade related property.
This guidance note provides more detailed guidance to valuers with regard to the valuation of a specific group of trade related property, that being pubs, bars, restaurants and nightclubs (licensed properties) that are occupied and trading. Written specifically with regard to the law and practice in England and Wales, it looks at valuation methodology and provides a practical approach to the assembly and interpretation of relevant information. -
Valuation of water as a separate resource (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper discusses how financial value can be attributed to water, so individuals, investors, banks and governments can appraise and understand the resource. -
Real estate agency and brokerage
This professional statement applies to all RICS members involved with the sale, letting, leasing and management of real estate, whatever the form of tenure by which it is held or occupied.
It outlines the principles that shape the culture of fairness and transparency that underpin all activities undertaken by real estate agents within whichever country they practice. Topics covered include:
- Ethics
- Securing instructions
- Acting for the seller: marketing the property
- Acting for the seller: agreeing the sale or lease
- Acting for the buyer
- Ending the instruction
- Safety and security
- Agency management -
Managing organisational change (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
These papers are aimed at surveyors who are assisting clients with organisational change or are re-organising their own professional practice. -
RICS Valuation standards, 7th edition (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The 7th edition of the RICS Valuation standards, effective 2 May 2011 marked its issue for the first time in Global, UK and India volumes, and incorporated a number of changes and updates to enhance its clarity and ease of use. These included adopting the term 'valuation standards' rather than 'practice statements' in relation to the key requirements, which continued to be mandatory for members, since the emphasis throughout was on the delivery of valuations to clear and consistent standards.
The standards in VS 1.1 and VS 1.2 were revised to make a clearer distinction between mandatory standards (i.e. the compliance and ethical requirements of VS 1) and those that are not mandatory, if the purpose of the valuation falls within any of the specified exceptions (that is, VS 2 to VS 6). Although differently expressed there was no intention to change the application of principles specified in the 6th edition.
There was some renumbering and reordering of guidance notes as well as updating of them, with a new GN on the depreciated replacement cost method of valuation for financial reporting, upgraded from 'valuation information paper' status. The intention was to ensure that the Red Book global standards aligned and complied with International Valuation Standards (IVS). Further information about IVS evolution was included in the Introduction.
For the current edition of Red Book see www.isurv.com/redbook -
Commercial property service charge handover procedures
Published: March 2015
Effective from: March 2015
This guidance note covers commercial multi-let property where there is a service charge. It deals with the handover of financial and supplier information between owners and/ or managers.
Superseding the previous information paper of the same name (published in 2011), this guidance note is aimed at property owners and managers and their legal advisers. Its intention is to set out a series of procedures that will apply during any handover period in order to improve the quality of service to the industry’s customers.
This guidance note covers:
- sale of a property
- change of manager and
- example reconciliation statements. -
An overview and comparison of dispute resolution processes in the UK (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
There are many different dispute resolution processes in the UK, the idea being that all of them strive to meet these aims in different ways. However, 'one size does not fit all', and selecting the wrong process can result in the opposite outcome; an unacceptable result in the longest possible time, with the greatest possible expense and maximum stress on the participants. The purpose of this paper is therefore to give an accurate, non-legalistic and user-friendly overview of the main dispute resolution processes available to the property, land and built environment sectors in the UK. This should assist users in selecting the most suitable dispute resolution process for their particular dispute. -
Security (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The purpose of this guidance note is to provide chartered facilities management surveyors and other members of RICS who are involved in the property management process, with a resource that can be applied when considering the security needs of an organisation. The guidance note also describes current best practice in the planning and deployment of the measures necessary to deliver appropriate and effective security.
It is not designed to provide the absolute solution for every scenario but will give an understanding of the need for security and the processes that support its application as part of the decision making process. This will assist chartered surveyors in identifying security issues relevant to their organisation and enable them to follow the appropriate course of action. Ultimately, this may require consultation with local authorities, government officials and indeed security consultants with the appropriate level of experience, before a specific course of action is taken.
The 2nd edition came into force on 3 January 2015. -
Contract administration (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The purpose of this guidance note is to provide practical guidance to RICS members in England and Wales who undertake the role of 'contract administrator' (CA).
The role of the CA covers a wide range of possible services and projects from the smallest residential scheme through to larger commercial projects. The responsibilities of the CA will be defined by the form of building contract and the professional appointment under which the CA is appointed. As the majority of surveyors only deal with small to medium sized contracts, this guidance note will concentrate on the role of CA at this level; and in particular within the provisions of contracts issued by the Joint Contracts Tribunal (JCT - minor works, intermediate and standard building contracts). In addition, many of the principles set out in this guidance note will also apply where no standard form of contract has been entered into, particularly for smaller works. While the guidance note does not deal with full 'design and build contracts, the issue of the employer's responsibility for design is considered.
On this basis it should be noted that this guidance note does not cover other forms of JCT contract, GC works, BPF/NEC or ICE forms, other than to distinguish the role of the CA. It also does not deal with the responsibilities of employers' representatives under design and build arrangements, where the responsibility is to act exclusively in the interests of the employer, albeit honestly and with integrity. -
Valuation methods for the Indian market (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The purpose of this information paper is to provide a basic introduction to the methods of valuation most frequently used to assess the market value of real estate.
The methods are used for assessing the market value of either a single or multiple legal interests in a specific parcel of real estate, which is transferable freely in an open market within a given set of parameters. The nature of those legal rights will vary from state to state. -
Valuation of data centres
Published May 2011
Data centres were established in the 1990s in response to the rapidly growing demand for off-site data storage from commercial organisations and governments. More recently, developments in technology and innovations in the use of computers - for example, the introduction of social networking sites and the growth of video-on-demand (VOD) TV - have led to a expansion of data storage requirements. In a relatively short time period, data centres have become an essential element in the functioning of the modern world economy.
Occupiers' requirements in terms of power supply, security and data accessibility have meant that buildings used for the purpose of housing data centres have become highly specialised in terms of their location, construction, security and service requirements. The way in which these buildings generate income also differs from conventional commercial property. They have therefore become recognised as a distinct type of property in their own right, subject to a specific valuation approach.
Though vitally important in modern developed economies, the number of buildings used as data centres is relatively small. Transactional evidence can therefore be limited and this, coupled with the wide variation in facilities offered by individual units, means that valuation using conventionally gathered comparable evidence is often impossible. -
Green infrastructure in urban areas (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The purpose of this information paper is to provide RICS members with background information on the issues surrounding the delivery and promotion of green infrastructure.
The paper provides an overview of what green infrastructure is, the functions it can support, and refers to the various scales across which it can be provided. -
Acceleration
Published February 2024
Effective from February 2024
This practice information summarises what is meant by ‘acceleration’ in the construction
industry, how acceleration can be achieved in practice, and how it can be valued.
When used in connection with construction contracts, ‘acceleration’ generally refers to increasing the originally planned or current rate of progress of the work so as to complete the project (or, where the contract allows for the project to be completed in sections, a section of the project) earlier than would otherwise be the case. -
User guide: reflecting uncertainty in valuations
Published June 2011
This guide is prepared for the benefit of valuers and other users of valuations to provide a general understanding of the concept of uncertainty and the methods by which uncertainty, in valuations for investment purposes, may be identified and communicated with clarity.
It is not intended to provide training in valuation techniques but rather to give valuation surveyors, and other users of valuations, a general understanding of the matters that need to be taken into account.
Uncertainty is a feature of investment in real estate regardless of geographical location. Although this guide has been written from a UK perspective, with examples based on UK investments, the fundamental principles are universal. Uncertainty as a concept does not vary and this guide can be applied to investment properties in all markets around the world. -
Surveying safely
Published November 2018
Effective from February 2019
Reissued July 2023
Appropriate management of health and safety is a requirement for all RICS-regulated firms and RICS members, including property-related businesses. The requirement for such management has been put in place in many countries across the globe and across industry sectors and governmental organisations in order to protect individuals from harm.
This professional standard sets out basic, good practice principles for the management of health and safety for RICS-regulated firms and RICS members. It sets out principles for those engaged in the built environment as property professionals and includes health and safety responsibilities:
• at a corporate level (whether the RICS-regulated firm is large or small) and
• at the level of the individual RICS member.
It covers property-related businesses and identifies the moral, ethical and practical issues that confront RICS-regulated firms and RICS members everywhere, in all the work that they undertake.
This document came into effect on 1 February 2019.
This document was reissued in July 2023 as a professional standard. It had previously been published in November 2018 as a guidance note. The regulatory requirements remain the same and no material changes have been made to the document. -
Part L: Conservation of fuel and power (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
In October 2010 Part L of the Building Regulations (the energy and carbon compliance documentation) was revised. This information paper looks at the requirements for compliance with the energy and carbon sections. -
Defining completion of construction works
Published: July 2011
This guidance note is intended to summarise the principal features of completion of construction works under a variety of construction contracts. It is intended to be of use to surveyors who are certifying, or providing services in consequence of or in relation to, completion of construction works.
This is part of the RICS QS and construction standards (the 'Black Book'). -
Mining Waste Directive 2006/21/EC (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper was intended to explain the background to the MWD and give a broad overview of its implementation in England and Wales. It should not be relied upon as an interpretation of the law. -
Cash flow forecasting – UK (ARCHIVED)
This document has been archived and available on isurv for information purposes only.
This guidance note summarises what cash flow forecasting is, how to produce a useful forecast and how to then use the forecast to assess progress on site as well as other issues, and to assist both employers and contractors to analyse actual expenditure against forecast expenditure.
For the purposes of giving guidance the client is referred to as the 'employer' and the main contractor as 'contractor'. However, much of the guidance can equally be applied to a contractor/sub-contractor or supplier arrangement.
This is part of the RICS QS and construction standards (the 'Black Book').
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Valuation of mineral-bearing land and waste management sites
Published April 2016
Effective from 1 July 2016
Reissued January 2023
The 2nd edition of this global professional standard (effective from 1 July 2016) replaces the 1st edition, which published in 2011. It identifies additional matters that valuers need to take into account when valuing natural resource wasting assets, such as mineral deposits, landfill and waste disposal sites.
This document was reissued in January 2023 as a professional standard. It had previously been published in April 2016 as a guidance note. No material changes have been made to the document. -
Cost analysis and benchmarking – UK (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note summarises the purpose and process of both cost analysis and construction project benchmarking.
It is based on current practice within the UK and covers the general principles applying to each operation. It does not seek to cover every approach to cost analysis or benchmarking but looks at the subject areas from a practical aspect.
In addition, while the processes of cost analysis and benchmarking are applicable to the whole life costs associated with the construction and operation of a building, this guidance note considers capital cost only. The principles covered may, however, also be applied to costs in use.
This is part of the RICS QS and construction standards (the 'Black Book'). -
Sustainability and residential property valuation (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This 1st edition information paper (IP) aimed to help valuers consider sustainability issues and their implications when undertaking valuations of residential property in the UK. -
Damages for delay to completion (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note introduces the subject of damages for delay to completion by looking at the general principles including areas such as law; reasons for introduction within a contract; amounts of damages, and how sums are deducted, certified or released.
The guidance note then focuses on how the standard forms of contract deal with damages. A list of the contracts reviewed is included within the table of contents. For liquidated damages this includes how amounts are inserted in the contract and how this is to be deducted or certified.
This is part of the RICS QS and construction standards). -
Subsidence in relation to insurance claims
Published September 2011
This guidance is for RICS members and other professionals involved with subsidence claims.
The key areas considered are the causes of subsidence, heave and landslip, the causes of other building fractures, policy cover details, handling a subsidence claim, recoveries and contribution, relevant voluntary agreements. -
Rare earth metals (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper describes the importance and increasing scarcity of rare earth metals - little known but highly significant to renewable energy, lighting, transportation and urban development. Examined from a point of view highly relevant to RICS members and other property professionals operating within the UK, the paper also highlights potential issues arising from a global shortage.
The scale of the problem is explored in the context of the increased urbanisation of several global regions and the mounting pressure to extract these resources through mining, with considerable environmental implications. As chartered surveyors have a role in seeking out materials, products and technologies, developing and implementing strategies to minimise the loss of these materials and extending their life and recovery remains vital. -
Negotiating options and leases for renewable energy schemes
Published June 2018
Effective from 1 July 2018
Reissued March 2023
Intended for use within the UK, this guidance is essential reading for all RICS members asked to advise in relation to renewable energy schemes.
This document provides guidance to chartered surveyors acting on behalf of landowners in relation to the negotiation of options and leases for schemes, across the full array of renewable energy technologies currently being rolled out across the UK.
The scope of this document covers the negotiation of options and leases. It is therefore assumed that the parties will have already considered the options available to them before proceeding with an option or lease. -
RICS Condition Report practice note (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
A new addition to the RICS Home Surveys family, the RICS Condition Report offers a concise overview of the condition of a property, complementing a mortgage valuation. -
UK residential real estate agency
Published September 2017
Effective from 11 September 2017
With the increased focus on the need for ethical practice and transparency in the residential property market this RICS professional statement sets out clearly the responsibilities of residential property agents to ensure they are working to the highest ethical and professional standards.
The 5th edition of the Blue Book, UK Residential Property Standards, has been archived as it has been superseded by the 6th edition. -
Commercial property management in England and Wales
Published: October 2011
Effective from: October 2011
Management is about achieving defined objectives that should be agreed with the client at the outset of each instruction, particularly the provision of quality services which are value for money.
This guidance note is principally concerned with how the person(s) in control of a building should act and, in particular, how they manage, communicate and control income and expenditure while minimising the various associated risks. Managers should at all times seek to comply with the principles set out in this guidance note.
While this guidance note refers principally to the management of multi-let properties, the principles can be applied to the management of all types of commercial property. -
UK commercial real estate agency standards
Published October 2016
Effective from 1 November 2016
With the increased focus on the need for ethical practice and transparency in the commercial property market, this professional statement sets out clearly the responsibilities of commercial property agents to ensure they are working to the highest ethical and professional standards. -
Executiewaarde en gedwongen verkoopwaarde (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note - Executiewaarde (execution value), foreclosure values and forced sales in the Netherlands - is presented in Dutch and English. -
FRVS 1 Evaluations pour les OPCI
This valuation standard - FRVS 1 Valuations for OPCIs - is presented in French and English.
-
Conflicts of interest for members acting as dispute resolvers (UK)
Published November 2020
Effective from 1 February 2021
Reissued October 2022
This professional standard covers the appointment of surveyors as arbitrators, independent experts, mediators, adjudicators, and other dispute resolvers.
Surveyors may be appointed as dispute resolvers either by private agreement between the parties in dispute, or via RICS or other formal appointing parties, such as the Law Society or the Chartered Institute of Arbitrators (CIArb).
The aim of this second edition professional standard is to provide advice on dealing with possible conflicts of interest for surveyors who are appointed to resolve disputes. It also helps all parties involved in a dispute to understand the main principles and considerations, and to be aware of when an involvement may develop into a conflict of interest.
This document was reissued in October 2022 as a professional standard. It had previously been published in November 2020 as a guidance note. The regulatory requirements remain the same and no material changes have been made to the document. -
Comparable evidence in property valuation (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Covering most types of real estate asset, this information paper discusses the use of comparable evidence in property valuation and aims to outline the principles of comparable evidence use, encourage consistency in its application worldwide, address issues of availability and the use of comparable evidence under challenging market conditions and consider the potential sources of comparable evidence.
This information paper also discusses the use of comparable evidence in different circumstances and markets, whether volatile or inactive, as well as in developing markets, where comparable evidence is often more difficult to obtain and less familiar to valuers.
Although applicable to land and buildings used for commercial, industrial, residential, agricultural and associated purposes, this publication does not cover the use of comparable evidence in the valuation of plant and equipment. Business assets or personal property are also outside the scope of this information paper, however, many of the principles described may be relevant to these types of asset. -
RICS Valuation – Professional Standards 2012 (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The Red Book 2012: RICS Valuation – Professional Standards were effective from 30 March 2012. They have since been superseded. For the current edition see www.isurv.com/redbook
RICS Valuation - Professional Standards - Global and India edition reproduced the 2011 guidance notes that were developed specifically for the India market, with minor updates to references. These included guidance on valuation for financial statements and secured lending, as well as for taxation purposes. Detailed guidance is also given on the valuation of development land, for those providing valuation services in India. -
Managing the design delivery
The guidance examines design delivery management (DDM) in the particular context of construction projects, situating it as a key process that connects the various aspects of the construction value chain. DDM is explained as an essential link between response to the client's needs and the construction process, which brings that response into reality as a building, structure or facility.
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Japanese knotweed and residential property
Published January 2022
Effective from March 2022
Reissued October 2022
This professional standard is an update to an RICS information paper published in 2012, responding to a House of Commons Science and Technology Committee published report – Japanese knotweed and the built environment – and a Department of Environment, Food and Rural Affairs (Defra) investigation into Japanese Knotweed that questioned the current approach to assessing the risk, and by extension, impact on value, of Japanese knotweed on the built environment.
The purpose of this updated document is to address both the findings and provide guidance based on market-informed industry best practice and the most recent research about a more holistic assessment of Japanese knotweed to ensure RICS members provide the best advice to users of valuation and condition reports.
This document contains a decision tree based on risk level to help valuers determine the appropriate management approach needed for Japanese knotweed. The new process still delivers a straightforward and objective categorisation of Japanese knotweed infestations because this provides the clarity that is essential for lenders, and which will continue to ensure confidence and trust among wider stakeholders.
This document was reissued in October 2022 as a professional standard. It had previously been published in February 2022 as a guidance note. The regulatory requirements remain the same and no material changes have been made to the document. -
Real estate agency and brokerage standards – 1st edition translations (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The RICS Real estate agency and brokerage standards provide best practice guidance for real estate agents and brokers in all world regions. Their purpose is to ensure that clients receive objective advice, delivered in a professional manner that is consistent with internationally recognised standards.
The standards set a framework for best practice in the execution and delivery of real estate agency services, subject to specific local legislative requirements and local market specifics. The standards offer generic guidance applicable to commercial, residential and rural transactions, including sales, acquisitions, leasing and letting.
The guidance underpins the Real Estate Agency Code and its core principles and also provides guidance that will help to meet relevant laws and ethical codes in all world regions.
Translations include:
- French
- Dutch
- Simplified Chinese
- Italian
- Polish
- Spanish. -
New rules of measurement
Published October 2021
Effective from 1 December 2021
Reissued October 2022
New rules of measurement (NRM) provides a standard set of measurement rules and essential guidance for the cost management of construction projects and maintenance works.
For the first time, all three volumes of the NRM suite have been published at the same time. The updated suite consists of three separate volumes:
- NRM 1: Order of cost estimating and cost planning for capital building works
- NRM 2: Detailed measurement for building works
- NRM 3: Order of cost estimating and cost planning for building maintenance works
The primary development in recent years has been the publication of the International Cost Management Standard (ICMS) (formerly known as International Construction Measurement Standards). Together with the Cost prediction professional standard, there now exists a hierarchy of cost management standards and tools from the high-level and global ICMS, through the more detailed principles of all aspects of cost prediction in the professional standard, to the detailed rules and guidance in the NRM suite.
Other recent developments that have resulted in the need for a revised edition include the publication of a new RIBA Plan of Work (2020), which provides a framework for the analysis of construction costs.
A mapping tool between NRM and ICMS will be provided here shortly, mapping the new NRM with ICMS 3, launched in November 2021. While NRM is based on UK practice, it provides a framework for a common set of rules and guidance with global application.
A number of other supporting documents are also being provided alongside the new NRM suite, which are designed to assist users with their understanding and use of the new NRM suite. These will be available from, or shortly after, launch.
These documents were reissued in October 2022 as practice information. They had previously been published in October 2021 as guidance notes. No material changes have been made to the documents. -
Retention
This guidance note introduces the subject by looking at the general principles of retention, including areas such as law; reasons for introduction within a contract; levels of retention, and how amounts are deducted, certified or released.
The guidance note then focuses on how the standard forms of contract deal with the issue. A list of the contracts reviewed is included within the table of contents.
The guidance note reviews methods and limits of deduction, inclusion of the retention amount to be included within the contract, release and set off against sums held.
This guidance note concludes with a review of common issues including areas such as commonly occurring problems; financing; insolvency, and defects rectification.
Guidance is given for each of the main groups of contracts and the forms in most regular use within those groups, under the following headings, which map to the Assessment of Professional Competence (APC): General principles (Level 1 - Knowing), Practical application (Level 2 - Doing), Practical considerations (Level 3 - Doing/Advising).
This is part of the RICS QS and Construction Standards. -
Conflict avoidance and dispute resolution in construction
Published: April 2012
Effective from: April 2012
This guidance note summarises what is meant by conflict avoidance and dispute resolution. It identifies the key issues that all surveyors should understand in respect of these distinct substantive areas. It cannot cover every issue or every technique for avoiding disputes, nor can it cover the wide-ranging issues that relate to dispute resolution, the applicable rules or strategies that might be adopted.
Guidance is given in respect of conflict avoidance processes and dispute resolution techniques that are encountered within the industry under the following headings, which follow the Assessment of Professional Competence (APC): General principles (Level 1: Knowing), Practical application (Level 2: Doing), Practical considerations (Level 3: Doing/Advising).
This is part of the RICS QS and Construction Standards. -
Facilities management information and data management (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Facilities management organisations recognise the value that management information can bring to the effectiveness of their businesses.
Written for those operating at both the operational and strategic level of facilities management, this information paper aims to provide an outline to help client side facilities management organisations to generate, analyse, use and report on management information to the benefit of the host organisation. -
Valuation of renewable energy installations (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper addresses the capital and rental valuation of freehold and leasehold landed interests for sites where a significant part of the value arises, or might arise, from the potential to generate renewable energy - principally electricity.
This information paper is primarily concerned with the valuation of developments undertaken on a large scale for the regular production of energy for sale. -
Valuation of independent healthcare properties in the UK (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Originally published as Valuation Information Paper 11, the second edition information paper is concerned with the valuation of independent healthcare properties comprising nursing and residential care homes in the UK. -
Inclusion, equality and the built environment: a glossary of terms (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper aims to provide students, practitioners and members with definitions of terms regularly used in association with disability, inclusion and equality within the built environment sector.
The glossary is UK based and gives a general introduction to medical and legal terms. It is not the intention to provide a list of all medical terms related to disability/impairments, but rather an outline of some of the more common terms. -
Valuation of residential property in Ireland
Published May 2012
Effective from May 2012
Valuation of residential property in Ireland is part of the RICS Valuation - Professional Standards ('Red Book' 2012). This is the latest regional Red Book valuation standard accompanied by two appendices.
This standard is jointly published with the Society of Chartered Surveyors Ireland (SCSI).
Effective from May 2012. -
Sports ground certification (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note will assist practitioners to gain an understanding of the legislative framework by which reasonable levels of safety at sports grounds can be achieved. It will also be useful for people involved in the process, in local authorities and the associated services (e.g. safety officers, event organisers, fire service, ambulance service and the police).
Sports grounds are places where some of the greatest dramas are played out in front of audiences worldwide. It is the duty of sports grounds practitioners to ensure those dramas are limited to the sport and not associated with disaster and loss of life. -
RICS Valuation – Professional Standards 2012 - application in the United States
This guidance note provides assistance to RICS members on the application of the the Red Book 2012 to valuations that have to be provided in compliance with US jurisdiction.
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Financial viability in planning (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Financial viability has become an increasingly important material consideration in the planning system. While the fundamental purpose of good planning extends well beyond financial viability, the capacity to deliver essential development and associated infrastructure is inextricably linked to the delivery of land and viable development. -
Managing mixed use developments (ARCHIVE)
This document has been archived and is available on isurv for information purposes only.
This guidance note, published in September 2012, addresses the issue of managing mixed use buildings and estates, i.e. those with a mix of commercial and residential units; most specifically, long leasehold residential flats.
Relevant to properties in England and Wales, this document is based upon two previous RICS papers: Managing mixed use developments (2009) and Apportionment of service charges in mixed use developments (2009).
Managing mixed use developments (2009) is an information paper written to address the issues of mixed use buildings – those with a mix of commercial and long leasehold residential flats. -
RICS Building Survey practice note (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The RICS Building Survey is the premium product in the RICS Home Survey range. Clients who want a clear, impartial and detailed assessment of any type of property will choose it, and their expectations will be higher than that for the RICS HomeBuyer and Condition Reports. -
Daylighting and sunlighting
Published: October 2012
Effective from: October 2012
Reissued: October 2023
This professional standard is about daylight, sunlight and shading and, to a lesser extent, how it is dealt with in the design, planning, and environmental impact assessment of developments, and particularly in relation to the Building Research Establishment Report: Site layout planning for daylight and sunlight 2011, which sets out the standards and methods of calculation most usually relied upon by local authorities when assessing planning applications.
Surveyors advising on daylight and sunlight need to ensure that they are familiar with that document and with the planning policy of local authorities to whom reports are to be submitted. -
RICS Rules of Conduct
Published October 2021
Effective from 2 February 2022
Reissued June 2023
The new Rules of Conduct came into effect on 2 February 2022.
The RICS Rules of Conduct provide a framework within which members and regulated firms offer and deliver their services. They are designed to represent a transparent system of conduct and regulation.
The RICS Rules of Conduct are short and principles based. The rules are mandatory for all RICS members, students and trainees, and all RICS regulated firms.
Archived editions are available on isurv for information purposes only.
For further regulatory guidance, see the RICS website. -
Farm stocktaking valuations
Published December 2016
Effective from December 2016
Reissued January 2023
Farm stocktaking valuations are required to assess the closing stock value, and thereby the proper profits or losses of a farming business, for inclusion in financial statements.
The aim of this professional standard is to assist professionals providing farm stocktaking valuations to correctly confirm instructions and prepare reports to clients that are Red Book-compliant, so as to ensure the highest standards of professionalism and clarity.
This document was reissued in January 2023 as a professional standard. It had previously been published in December 2016 as a guidance note. No material changes have been made to the document. -
RICS Forms of Consultant's Appointment (Northern Ireland) (ARCHIVED)
These documents have been archived and are available on isurv for information purposes only.
The latest edition was published in May 2022 and is available to download from: www.isurv.com/info/1557/rics_forms_of_consultant_appointments -
Earth observation and aerial surveys
Published 27 September 2021
Effective from 4 January 2022
Reissued January 2023
This 6th edition global professional standard is intended for use by land, sea, engineering and environmental professionals acting in an advisory capacity, and by clients who are able to specify their own surveys. It is also intended for use by earth observation and aerial survey specialists.
This professional standard supersedes the 5th edition of Vertical aerial photography and digital imagery, containing new sections on LiDAR and hyperspectral, multispectral, thermal and radar imaging systems.
This document was reissued in January 2023 as a professional standard. It had previously been published in September 2021 as a guidance note. No material changes have been made to the document. -
Valuation of intangible assets (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Formerly published as a stand-alone guidance note, this was subsequently incorporated into the RICS Red Book 2014. -
Valuation of businesses and business interests (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Formerly published as a stand-alone guidance note, this was included in the RICS Red Book 2014. -
Licence for alterations in commercial property (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note will be most relevant to surveyors dealing with tenant applications to make alterations at offices and industrial properties in England and Wales. -
TUPE: information for property managers (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
TUPE stands for The Transfer of Undertakings (Protection of Employment) Regulations 2006. New regulations to update TUPE 2006 came into force on 31 January 2014 under The Collective Redundancies and Transfer of Undertakings (Protection of Employment) (Amendment) Regulations 2014.
The purpose of TUPE is to provide employment protection on the transfer of a business from one individual to another or a change in responsibility for a contracted out service. In applying it, employment tribunals generally adopt what they call a ‘purposive’ approach, which effectively means they interpret TUPE to protect employees in line with the social objectives of the European ARD. -
Valuation of land for affordable housing Scotland
Published January 2013
In Scotland, a valuation of land for affordable housing can be required for several reasons, including: advice for loan security, acquisition, sale, evaluation of options, planning purposes, compulsory purchase, taxation and development appraisal for grant purposes.
This guidance note aims to inform the valuer’s approach to the valuation of land for sites in Scotland where there is a requirement to provide affordable housing or where the provider of affordable housing is seeking grant finance from the Scottish government. -
Construction sectors and roles for chartered quantity surveyors (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper summarises what is meant by the construction sectors before going on to review the various roles for the chartered quantity surveyor within the UK construction industry.
This is part of the RICS QS and construction standards (the 'Black Book').
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Appointing a project manager
The aim of this publication is to provide practical advice and guidance to individuals and organisations involved in the commissioning or procurement of project management services as well as RICS members in England and Wales undertaking the role of project manager in relation to building works contracts.
The role of the project manager covers a wide range of possible services and projects from the smallest residential scheme through to larger infrastructure projects. The responsibilities of the project manager will be defined initially by the professional appointment under which they are employed and then by the form of building contract used for the works.
Please note: while the content of this guidance note contains textual material which is still current and able to be used in practice, it is acknowledged that a number of references in the Appendices are now out of date and need to be changed to reflect the subsequent publication of other documents. -
Developing a construction procurement strategy and selecting an appropriate route (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This first edition guidance note discusses construction procurement routes and the development of a procurement strategy. The guidance aims to help professionals choose an appropriate route, setting out their advantages and disadvantages.
This guidance note is part of the RICS QS and Construction Standards.
Please note: This guidance note is under revision and has been withdrawn. This document will be reinstated with a new edition as soon as possible. In the meantime, this guidance note is kept on isurv for information purposes only. -
Construction security and performance documents
Published: May 2013
Effective from: May 2013
This first edition guidance note reviews security and performance documents normally associated with a construction project, noting the main types of document, the parties to them, their purpose and general terms.
This is part of the RICS QS and Construction Standards.
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document -
Design and specification
Published: June 2013
This first edition guidance note provides professional practitioners with best practice guidance relevant to the tasks and processes of design and specification for small- to medium-size construction projects. -
Termination of contract, corporate recovery and insolvency
Published June 2013
This first edition guidance note reviews termination of contract, corporate recovery and insolvency primarily from the perspective of a chartered surveyor with a commensurate level of specialism. It also deals with the main issues encountered in and associated with a construction project. Generally, the guidance note advises on the issues and also suggests when further specialist assistance may be required either legally or technically.
This is part of the RICS QS and construction standards (the 'Black Book').
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Managing communications (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This 1st edition information paper examines communications in an industry context, covering how clear, consistent communication via different media enables stakeholders to play their part in delivering a successful project. -
Cost analysis and benchmarking – global (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This first edition guidance provides a summary of the purpose and process of both cost analysis and construction project benchmarking.
The purpose of this guidance note is to ensure consistent practice, delivered in a professional manner that is in line with internationally recognised guidance.
This is part of the RICS QS and Construction Standards. -
Capital allowances and land remediation relief (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This first edition guidance note introduces surveyors and other professionals to the subjects of capital allowances and land remediation relief in a UK context.
This is part of the RICS QS and Construction Standards.
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Analysis of commercial lease transactions, Hong Kong (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The analysis of comparable transactions and the effect of the value of incentives is only one part of the process of considering the value of a specific property. There is no single correct approach to analysis and no 'right' answer. Methods may vary depending on the circumstances of individual cases and market practices in different areas and sectors. Changing markets can mean that an approach adopted previously may no longer be appropriate. This is particularly so in Hong Kong, which also has its own distinctive characteristics of deal structure and length of leases, which necessitates unique guidance in the form of these notes. -
Sustainability: improving performance in existing buildings (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Clients are increasingly striving to achieve the standards set for sustainability in new buildings when commissioning works to improve the sustainability of existing buildings, despite both the technical and economic constraints presented.
Sustainable buildings are resource-efficient throughout that building's life-cycle: from location, design, construction, operation, maintenance, renovation, and demolition, and aim to complement the classical building design concerns of economy, utility, durability, and comfort. -
RICS Valuation – Professional Standards global 2014 (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The Red Book is issued by the RICS Valuation Professional Group as part of its ongoing commitment to promote and support high standards in valuation delivery. It is mandatory for RICS members undertaking valuation services, but is also a useful reference work valuation users and other stakeholders.
The RICS Valuation - Professional Standards January 2014 took effect in 6 January 2014. IVS 2013 was reproduced in its entirety as an annex in both hard copy and digital versions.
A correction to Red Book January 2014 was issued in December 2013. The June reprint of the global Valuation Standards consolidated the December 2013 correction and minor errata. References only relevant to the UK portion were removed and pages on other publications were removed.
RICS Valuation - Global Standards took effect from 1 July 2017 following the publication of IVS 2017.
The Red Book (UK portion) is now held separately on isurv.
Red Book is also translated into several languages following the publication of each edition.
On 28 November 2019, a new edition of RICS Valuation - Global Standards was published, to take effect from 31 January 2020, the same date as the new edition of IVS.
See www.isurv.com/redbook -
EUGN 1: EU directives and regulations relevant to valuation (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note draws valuers’ attention to the need for particular care when undertaking valuation work on which various EU directives and regulations may impact. It is essential that the work is undertaken in the light of knowledge of the existence of the directives or regulations, as the case may be, and with an understanding of how they are to be implemented in individual Member States.
Care must also be taken to ensure that valuation reports draw attention to any aspects of the directives or regulations – or, more particularly, their implementation – of which the client needs to be aware in order to understand and use the report for its intended purpose. -
RICS regulation PII guidance on risk, liability and insurance in valuation work (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This has been superseded by Risk, liability and insurance, 1st edition (April 2021). -
Strategic facilities management (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note applies globally. It provides practitioners with operational pointers to best practice in the management of facilities, while exploring the depth of the facilities management discipline and the advantages to organisations which position the facilities role appropriately within their corporate structures.
It supersedes a previous guidance note: The strategic role of facilities management in business performance, 2nd edition. -
Defects and rectifications (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Aimed at construction professionals who manage defective construction work or those who have to address the consequences when it occurs.
This is part of the RICS QS and construction standards (the 'Black Book'). -
Automated valuation models (AVMs) (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This 1st edition information paper is intended for RICS members and others including lenders and similar institutions and considers the use of Automated Valuation Models (AVMs) in the UK. -
RICS Brazil – Valuation Standards (BRVS) (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Members providing valuation services in Brazil shall comply with the relevant legal and regulatory requirements. This National Association Valuation Standard expands the requirements of PS 1 and PS 2 of the Global Standards of the Red Book 2014, in accordance with PS 1 paragraph 5, where valuation services are provided in Brazil. -
The calculation of surveyors’ fees relating to the exercise of statutory powers in connection with land and property
Published April 2017
Effective from April 2017
Surveyors advising in respect of compulsory purchase and statutory compensation, UK, 1st edition, derives from the 2012 guidance note, The Calculation of Surveyors’ Fees Relating to the Exercise of Statutory Powers in Connection with Land and Property, 1st edition, for Scotland. Both this professional statement and the Appendix supersede the 2014 guidance note, The calculation of surveyors’ fees relating to the exercise of statutory powers in connection with land and property, 1st edition, for Scotland. -
Dilapidations (Hong Kong) (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This publication is an adaptation of the RICS guidance note: Dilapidations, 6th edition (England and Wales), providing guidance to RICS members operating in Hong Kong.
It is intended to: adapt UK best practices for RICS members in Hong Kong dealing with dilapidations in leased premises, particularly dilapidation claims, forfeiture and break clauses in the lease/tenancy, and dispute settlement; and introduce a Schedule of Dilapidation (SD) Scheme to deal with dilapidations in Hong Kong. -
Valuation of development land, Hong Kong
Published May 2014
Effective from 1 August 2014
A valuation of property that is considered to be suitable for development, or redevelopment, may be required for many reasons. These may include, among others, advice on loan security, acquisition, sale, valuation of options, capital taxes, planning purposes and appraisals.
This guidance note discusses the approach to the valuation of property where the proposed development is of a cleared, or greenfield, site, or where the site is to be redeveloped by removing all, or substantially all, of the existing buildings and constructing new buildings. These various scenarios are referred to throughout as 'development land'. -
Valuation of historic buildings
Published May 2014
This information paper examines the principles of valuation as they apply to historic properties, providing an overview of the issues facing valuers appraising such assets. -
Cash flow forecasting – global (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This publication provides best practice guidance on cash flow forecasting for project and cost managers in all world regions.
The purpose of this guidance note is to ensure consistent practice, delivered in a professional manner that is in line with internationally recognised guidance.
This is part of the RICS QS and Construction Standards.
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Methodology to calculate embodied carbon (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This global guidance note outlines a practical framework for quantity surveyors on how to calculate embodied carbon emissions associated with their projects.
The guidance note supersedes the 2012 RICS information paper Methodology to calculate embodied carbon of materials, 1st edition which was aimed at a UK audience. -
High streets: adapting to change (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This 1st edition information paper addresses the factors behind the decline of retailing on the high street and in town centres, as well as discussing some possible solutions for the future of these places in terms of retail and beyond retail. -
Capital and rental valuation of hotels in Asia (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Hotels are among those types of property generally referred to as 'trade related property'. They are normally bought and sold having regard to their trading potential. This information paper relates only to the valuation of an individual property (or properties) that is valued having regard to its trading potential, including properties valued on the basis that vacant possession is available as well as those to be valued as investments (i.e. without vacant possession). -
Tendering strategies
Published July 2014
Effective from 1 January 2015
This 1st edition guidance note summarises what tendering is and how tendering processes are used to establish a contract price. It also reviews different types of tendering and negotiation strategies and their advantages and disadvantages. It seeks to enhance the knowledge and understanding of the tendering and negotiation processes involved in procurement.
This is part of the RICS QS and construction standards (the 'Black Book'). -
Cost analysis and benchmarking – Chinese translation (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This is part of the RICS QS and Construction Standards.
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Neighbourhood planning: involving businesses and landowners (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The purpose of this information paper is to provide RICS members with background information on the introduction of permissive rights for communities and businesses to prepare Neighbourhood Plans and Neighbourhood Development Orders. -
Technical due diligence of commercial, industrial and residential property in Continental Europe (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Technical due diligence reports, which detail the physical condition of a property, are increasingly in demand throughout continental Europe, as financial institutions, investors and owner-occupiers look ever more closely at the risks of buying and selling property. -
Overview of a 5D BIM project (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Through consultation with RICS, Henry Riley LLP was invited to write an information paper based on its experience of 5D BIM throughout 2012 and 2013, with particular focus on a project in which an RICS NRM 1 pricing document based on quantification from a BIM model was issued for tender.
This 1st edition information paper includes: project details, key problems identified, process and solution pre-tender, post-tender review and lessons learnt. -
Surveyors acting as arbitrators in commercial property rent reviews in Scotland
Published August 2014
Effective from August 2014
Reissued February 2024
This professional standard is designed primarily to assist those who are appointed to act as arbitrator, either by the Chairman of RICS Scotland, or directly by the parties to a dispute. It is also intended to assist the parties themselves and those acting for them by making them aware of the procedures likely to be followed.
This professional standard is based on the law and practice relating to arbitrations in Scotland, which are governed by the Arbitration (Scotland) Act 2010.
See also: Surveyors acting as independent experts in commercial property rent reviews in Scotland.
This document was reissued in February 2024 as a professional standard. It had previously been published in August 2014 as a guidance note. No material changes have been made to the document. -
Valuing residential property purpose built for renting
Published July 2018
Effective from October 2018
Reissued May 2023
This professional standard gives guidance on the general approach to valuation that should be adopted for the build-to-rent part of the residential investment sector and recognises that – reflecting market practice – the principal basis should be an income-driven one.
The standard addresses the following:
- form of tenancy
- valuation considerations
- valuation approach
- assessment of gross income
- assessment of operating expenditure
- net income capitalisation
- benchmarking
- aggregate break-up value and
- cash flow analysis.
This document was reissued in May 2023 as a professional standard. It had previously been published in July 2018 as a guidance note. No material changes have been made to the document. -
Private rented sector code (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This cross-industry code is intended to promote best practice in the letting and management of private rented sector housing in England.
The code is intended for use by landlords and lettings and management agents in the private rented sector (PRS).
The Code was amended in July 2015 to reflect changes in legislation, including the introduction of the Consumer Rights Act 2015 and The Smoke and Carbon Monoxide Alarm (England) Regulations 2015. -
Stakeholder engagement
Published September 2014
This guidance note outlines the principles of effective stakeholder engagement, providing readers with practical guidance through a series of 'real world' case examples and advice from experienced practitioners. -
International BIM implementation guide
Published September 2014
Effective from 1 March 2015
This guidance note highlights international high-level principles around how to implement and use BIM in the design, construction and operation of our built environment, including facets of procurement management and asset management. It is intended that these principles are used as an overarching framework for potential national standards or regional guidelines on BIM, and also by individuals and organisations. Therefore, this guidance note is designed for any firm or professional using BIM or considering using BIM in the foreseeable future. -
Farm Business Tenancy Agreements 2014 (ARCHIVED)
These previous 2014 Agreements are now out of print and on isurv for information purposes only.
-
Appropriate contract selection
Published: April 2024
This practice information discusses the various types of construction contract that are available for use in the UK. It also discusses the factors to consider when choosing the most appropriate construction contract for a particular project.
This is part of the RICS QS and construction standards (the 'Black Book'). -
Extensions of time (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Delays occur on most construction projects, and always have done. At some point during a project, particular parts of the works, or the works as a whole, will not progress as quickly as planned, with the risk that the contractual completion date will not be met.
This guidance note covers:
- costs of delay
- background to extension of time clauses
- delay assessments using BIM and
- strengths and weaknesses of delay analysis methods.
This is part of the RICS QS and Construction Standards.
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Mediation (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note is intended for surveyors advising clients in relation to a dispute and gives guidance on when mediation should be considered, how it works, the benefits of mediating over litigating, and the consequences if parties do not mediate. -
Real estate management
This professional statement applies to the management of both commercial and residential real estate.
It outlines the principles that shape the culture of fairness and transparency that underpin all activities undertaken by real estate managers within whichever country they practice, and applies to all RICS members involved with the sale, letting, leasing and management of real estate, whatever the form of tenure by which it is held or occupied. -
Surveyors acting as independent experts in commercial property rent reviews in Scotland
Published January 2015
This guidance note is designed primarily to assist those who are appointed either by the chairman of RICS Scotland, or directly by the parties to a dispute, to act as an independent expert to determine their dispute. It is also intended to assist the parties themselves and those acting for them by making them aware of the procedures likely to be followed.
See also: Surveyors acting as arbitrators in commercial property rent reviews in Scotland, 9th edition (2014).
The previous 8th edition is available on isurv for information purposes only. -
Surveyors acting as arbitrators in commercial property rent reviews
Published April 2013
Effective from April 2013
Reissued December 2023
This professional standard is designed primarily to assist those who are appointed to act as arbitrator, either by the President of RICS, or directly by the parties to a dispute. It is also intended to assist the parties themselves and those acting for them by making them aware of the procedures likely to be followed.
See also: Surveyors acting as independent experts in commercial property rent reviews, 9th edition (2014).
This document was reissued in December 2023 as a professional standard. It had previously been published in April 2013 as a guidance note. No material changes have been made to the document. -
Surveyors acting as independent experts in commercial property rent reviews
Published February 2014
This 9th edition guidance note is designed primarily to assist those who are appointed either by the President of RICS, or directly by the parties to a dispute, to act as an independent expert to determine their dispute. It is also intended to assist the parties themselves and those acting for them by making them aware of the procedures likely to be followed.
See also: Surveyors acting as arbitrators in commercial property rent reviews, 9th edition (2013).
The previous 8th edition is available on isurv for information purposes only. -
BIM for beginners
The built environment sector is full of debate about BIM. In these times it is crucial to be clear on the current and future state of BIM.
This document is based on key points from the RICS guidance note 'International BIM implementation guide'. It gives a brief introduction to BIM for those who have yet to work with it. It looks at:
- what BIM is
- the technology behind BIM
- how BIM is used in project delivery and
- the implications of BIM on organisations. -
Cost reporting
Published: March 2015
Effective from: March 2015
This 1st edition guidance note sets out the principles of cost reporting from the perspective of the quantity surveyor to the client during construction.
This guidance note explains the purpose of cost reporting, the factors affecting outturn cost and explores the different formats and types of cost report.
This guidance note covers:
- the purpose of cost reporting;
- cost reporting models;
- report formats;
- establishing the budget;
- treatment of variable costs;
- strategic importance; and
- reporting of loss and expense.
This is part of the RICS QS and Construction Standards. -
Flooding: issues of concern to RICS surveyors and valuers (Residential property) (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper describes the nature of the current flood risk problem, the consequences of that risk and how a residential practitioner may take these into consideration when providing residential survey and valuation services. -
Lender's independent monitoring surveyor
Published March 2015
This guidance note has been developed to support the work of chartered surveyors who assess risks and provide technical advice to those who provide third-party finance on real estate developments: a lender’s independent monitoring surveyor.
This guidance note covers:
- project structure
- conflicts of interest
- technical due diligence
- financial close/contract completion
- practical completion and
- risk analysis. -
RICS Valuation – Professional Standards January 2014 UK (revised April 2015) (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The RICS Valuation – Professional Standards as they apply in the UK have been updated with effect from the date of publication in April 2015.
In summary the April 2015 changes are:
- UK appendix 3 was revised to reflect the changes to UK GAAP effective from 1 January 2015 and to the International Standards and Auditing (UK and Ireland).
- UK appendix 5 was updated to reflect the changes to UK GAAP and the Code of Practice on Local Authority Accounting in the UK, published by CIPFA.
- A minor change was made to UKGN 7 to reflect the new UK GAAP (FRS 100–103 and FRSSE 2015) application to the financial statements of charities.
- In UK appendix 10, the Unexpired lease term assumption adjusted from 70 years to 85 years (applies when it is not possible to inspect the lease).
- Where appropriate references to UK content and to RICS publications have been updated.
For more detail, see pages 6-9 of the PDF.
For the current edition of the global standards see www.isurv.com/redbook -
RICS property measurement
Published January 2018
Effective from 1 May 2018
RICS property measurement comprises the following two elements:
1. Professional statement: property measurement
a) Application of this professional statement
b) Technical definitions
c) IPMS: Office Buildings, as applied under the professional statement
d) IPMS: Residential Buildings as applied under the professional statement (applies to office measurements and residential measurements only – download these below).
2. RICS IPMS data standard
This document reflects the IPMS standards (IPMS: Office Buildings and IPMS: Residential) and will be updated over time to comply with other IPMS standards, including industrial, retail and mixed use, as they are published.
For all building classes except offices and residential buildings, the bases of measurement contained within the Code of measuring practice, 6th edition (COMP) may still apply though the application of this professional statement applies to all building classes. The COMP was effective globally from 18 May 2015, though early adoption of IPMS is recommended on publication of the new standards.
Software developers and those requiring the use of structured data are advised to follow the schemas as defined, and those wishing to pursue RICS software certification must demonstrate compliance with this data standard. This data standard is an XML schema and is available to download.
A user guide to the standard, intended for implementers, is available for download. For more information please email datastandards@rics.org. -
Valuation of intellectual property rights
Published March 2020
Effective from 1 June 2020
Reissued May 2023
This professional standard discusses the valuation of intellectual property (IP), a subset of intangible assets. Its purpose is to expand on the International Valuation Standards (IVS) and RICS Valuation – Global Standards (Red Book Global Standards) in order to clarify the legal, functional and economic characteristics of IP that should be considered and reported on in an IP valuation.
IP is a legal concept that refers to creations of the mind that are derived from intellectual or creative effort and for which exclusive rights are recognised at law. These rights enable the owner to prohibit others from using their property without permission.
IP can be categorised as registered or unregistered, and includes:
- trademarks
- patents
- copyright
- design rights
- plant breeders’ rights and
- trade secrets, which in this document mean confidential information that has commercial value.
This professional standard describes how the legal, functional and economic characteristics of IP influence the definition of the IP that is the subject of the valuation (subject asset), the extent of investigation, the choice of valuation methodology and the valuation analysis.
The 2nd edition of this professional standard is effective from 1 June 2020.
This document was reissued in May 2023 as a professional standard. It had previously been published in March 2020 as a guidance note. No material changes have been made to the document. -
Management of risk
Published: June 2015
Effective from 25 September 2015
The aim of this guidance note is to provide a reference point for professionals on the discipline of risk management.
This guidance note provides details of the general principles of risk management and provides practical applications and considerations for successful implementation.
This guidance note covers:
- key principles of risk management
- response/mitigation strategies and
- risk identification techniques.
This is part of the RICS QS and Construction Standards. -
Ascertaining loss and expense (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The ascertainment of loss and expense is a set of tasks that endeavour to calculate as precisely as possible, and in accordance with the contract, the additional costs or losses incurred by one party directly due to a default of the other.
This guidance note covers:
- what is loss and expense;
- standard forms of contracts;
- global claims;
- methods of analysis of loss and expense; and
- strengths and weaknesses of the various methods.
This guidance note is part of the RICS QS and Construction Standards. -
Surveyors acting as expert witnesses in Scotland
Published August 2015
Effective from 6 November 2015
This 1st edition of Surveyors acting as expert witnesses in Scotland applies to surveyors when providing expert evidence, whether oral or written, before a range of courts and tribunals in Scotland.
This document:
- explains the need for clear instructions and terms of engagement
- gives guidance on what to do in situations of conflict of interest
- outlines the written report format
- clarifies the differences between the roles of expert and advocate
- helps remove pressure upon experts to support their clients’ cases irrespective of their honest professional opinion.
This practice statement is also published in the form of an accompanying client guide, a copy of which can be supplied by the expert witness to the prospective client. This guide may be provided without copyright permission; however, the expert witness must make clear to the prospective client that his/her copy is for his/her use only, and that any reproduction of the guide for the use of a third party would breach RICS copyright, as specified in PS 3.4(b).
The foreword by Lord Doherty that accompanies this guidance note was amended in February 2016 in order to cite updated case law from the United Kingdom Supreme Court. -
BIM for cost managers: requirements from the BIM model
Published: August 2015
Effective from: August 2015
This global guidance note should be used as a source of reference for quantity surveyors or cost managers when BIM has been implemented in the life cycle of a project. It offers an awareness of BIM and provides readers with recommendations for good practice when producing measurement outputs.
This guidance note covers:
- working in a BIM environment
- background information on naming structures conventions/data drops
- internal practice procedures and
- BIM measurement.
This guidance note is effective from publication in August 2015. -
Interim valuations and payment
Published August 2015
Effective from 12 November 2015
Most construction contracts require interim payments to be paid to the contractor. This is to relieve the contractor of the burden of financing the whole of the works until completion; works which may take many months or years to complete.
This guidance note covers:
- conditions of contract
- payment mechanisms
- retention
- valuation process and
- standard forms and covering letters.
This guidance note is effective from 12 November 2015.
This is part of the RICS QS and Construction Standards.
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Application of RICS Valuation Professional Standards in Russian Federation (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note provides assistance to RICS members on the application of the RICS Valuation – Professional Standards (the 'Red Book') to valuations that have to be provided in compliance with Russian legislation.
It covers application, bases of value, and other compliance matters in the Russian jurisdiction. -
RICS Valuation – Global Standards: Germany national supplement
The purpose of this document is to assist valuers who are members of RICS in ensuring that a valuation undertaken in accordance with Red Book Global Standards is also compliant with applicable legislation, regulation and professional practice in Germany.
Members are reminded to ensure, when conducting their professional activities in Germany, that they are also following any appropriate country-, state- or municipality-specific regulations and guidance. -
Canadian jurisdictional applications of valuation standards 2015
This document is intended to assist RICS members who are also AIC members in ensuring that a valuation report that is compliant with Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) is also compliant with the RICS Valuation – Professional Standards 2014 (RICS Red Book).
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The informed infrastructure client
Published September 2015
Effective from 1 December 2015
This guidance note is intended for RICS members practising in the infrastructure sector, either providing services to an infrastructure client or working within an infrastructure client organisation. -
Application of the RICS Valuation - Professional Standards in France
The Red Book recognises that local statute, or regulation, may have specific requirements that expand the global standards and that such requirements may be the subject of RICS national association valuation standards.
The French RICS Valuation Professional Group has developed this guidance note, which covers mandatory application in France, where members must comply with, in addition to French regulations, the Charte de l’Expertise en Evaluation Immobilière, 2012 (the Charter). This is the national valuation standard. -
Valuation of shopping centres, Italy
Published December 2015
Effective from December 2015
The purpose of this guidance note, issued by the RICS Italy Shopping Centre Valuation Working Group, is to assist retail real estate firms and professionals when undertaking shopping centre appraisals and investment assessments and to recommend best practice and actions aimed at standardising the specialised valuation of shopping centres.
Valutazione di centri commerciali – Linea guida RICS, 1a edizione:
Esperti professionisti RICS hanno redatto la Linea Guida con l’obiettivo di offrire assistenza ad aziende e professionisti del settore che si apprestano a valutare un centro commerciale e il relativo investimento, illustrando best practice e procedure raccomandate per standardizzare la valutazione specialistica di simili immobili. -
Final account procedures
Published December 2015
Effective from 14 March 2016
This guidance note summarises what a final account is and how they are used to establish a final adjustment to the contract price.
The practical issues of how to prepare a final account in accordance with the contract and the process of cooperation between the parties and negotiation will also be discussed.
This guidance note covers:
- contractual definitions of final account;
- preparing for final account;
- agreeing the final account; and
- an example statement of final account.
This is part of the RICS QS and Construction Standards. -
Health and safety for residential property managers
Published January 2016
Effective from 1 August 2016
This guidance note sets out practical guidance around the health and safety management of most types and configurations of residential properties. It aims to assist those responsible to be able to ensure, at all times, that the properties and, if appropriate, the facility management services delivered meet all statutory obligations (note that you will need to check legal requirements in each relevant jurisdiction), as well as good practice in regard to health, safety and environmental matters. -
Project monitoring for real estate lending, Canada
Published January 2016
This joint guidance from the Canadian Institute of Quantity Surveyors (CIQS) and RICS provides advice to construction professionals who are RICS members and engaged in the practice of project monitoring.
It has been drafted through roundtables, one-to-one meetings and written input from major commercial lenders across Canada, with the aim of ensuring the development of a genuine benchmark for the Canadian industry. -
Surveyors acting as experts in commercial rent determinations (Hong Kong)
This joint HKIS and RICS guidance note is designed primarily to assist those who are appointed by the President, or directly by the parties, to act as experts in disputes as to rental value for commercial properties. It is also intended to assist the parties themselves, and those acting for them, by making them aware of the procedures likely to be followed and issues involved.
The guidance note is not intended to provide guidance to those acting as arbitrators where other specific procedures will be relevant. A surveyor may also be called upon by the parties to a lease to determine other matters in dispute, such as a valuation in connection with an option to purchase.
The guidance note sets out, in general terms, the basic principles that would apply. -
Placemaking and value (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
By analysing five case studies, this paper aims to understand the relationship between the various design features and delivery mechanisms of a large residential scheme, and the end-sales achieved. It distils which physical attributes, as well as which delivery approaches, can create a positive sense of place in a new residential development and how this can trigger higher values. -
Tenant representative process
Published March 2016
Effective from 11 April 2016
This guidance note, effective in Australia, aims to assist practitioners in professionally advising their tenant clients.
It covers typical requirements that advisors should be aware of, and clearly sets out the four key stages in the tenant representative process:
- detailed needs analysis
- the market review
- short list review and
- negotiation and documentation. -
Commercial management of construction
Published: March 2016
Effective from: 21 June 2016
The role of a commercial manager, and the commercial management functions performed, play a critical part in the commercial and financial success of a construction project or of any other business.
This UK guidance note outlines the role of commercial management in construction, providing a framework of guidance covering the most common tasks that a commercial manager will perform on a construction project.
This 1st edition guidance note is effective from 21 June 2016.
This is part of the RICS QS and Construction Standards. -
Life cycle costing
Published April 2016
Effective from 1 July 2016
This guidance note summarises what is meant by a life cycle costing and whole life costing service for both new construction works and for the refurbishment of existing assets.
Covered in this guidance note:
- standards and definitions
- essentials of life cycle costing
- worked examples.
This is part of the RICS QS and construction standards (the 'Black Book'). -
Lessons learned
Published April 2016
Effective from 1 May 2016
Focusing on the fundamental question of why projects fail, this guidance outlines some of the most commonly occurring reasons for failure and offers practical solutions in the context of applying the lessons learned.
Although the main emphasis is on the built environment, case examples and lessons learned are drawn from a variety of sectors, including infrastructure and IT. The guidance note also stresses the importance of capturing the knowledge acquired during the planning and delivery of a project, and making best use of this for the benefit of future projects.
This guidance has global application, with case examples drawn from various countries. -
Green roofs and walls
Published April 2016
There are many green roofs and walls guides; however this guidance note has been prepared to assist building owners, tenants and their advisers in the processes involved in understanding the various steps that will need
to be considered if a green roof or wall is to be installed on a new building, or retrofitted onto an existing building. This guidance note looks at green walls and roofs from the property and surveyor’s point of view, encompassing the technical, value and community impacts that green walls and roofs can bring. This guide is aimed primarily at commercial and medium to high-density residential buildings.
This guide aims to provide information on green roofs and walls to:
- surveyors
- owners
- tenants
- property managers
- builders and developers
- project managers
- facility managers
- services consultants and
- local and national government. -
Application of the RICS Valuation - Professional Standards in Sweden
The purpose of this guidance note is to create clear and consistent guidance for both valuation providers and valuation users. It has been prepared primarily for financial reporting purposes, to comply with International Financial Reporting Standard 13 and for reporting to the Sweden Annual Property Index.
The effective date of this guidance note is 1 May 2016.
The Swedish language version will be published here once it becomes available. -
Residential panel managers (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This protocol has been jointly set up and endorsed by an industry wide group comprising representatives of Royal Institution of Chartered Surveyors (RICS), lenders, insurers and panel management firms involved in the residential mortgage valuation market. It sets out professional standards for the industry and, as a model for best practice, aims to improve protection for all parties to the valuation process. The protocol does not replace any existing obligations placed on firms by their professional, statutory or regulatory bodies. -
Resource management: improving efficiency and reducing waste
Published June 2016
Effective from June 2016
Reissued April 2023
This document provides guidance for property professionals on how to make more efficient and effective use of buildings and their support services; manage resources more effectively and reduce waste.
In the context of property and facilities management, resource should be considered as anything that is used in the provision of buildings and their support services, including:
- people
- natural resources and
- energy.
This document was reissued in April 2023 as a professional standard. It had previously been published in June 2016 as a guidance note. No material changes have been made to the document. -
Application of the RICS Valuation - Professional Standards in Poland
This guidance note provides assistance to RICS members on the application of the RICS Valuation – Professional Standards January 2014 (the ‘Red Book’) to valuations that have to be provided in compliance with Polish law. This guidance note is effective on publication.
The English language version published 27 June 2016. The Polish language version published 2 August 2016. -
Application of the RICS Valuation - Professional Standards in Greece
Procedures are in place in Greece to have the valuation profession regulated by law in the near future. This guidance note is intended to respond to the new regulatory regime, with the aim of clarifying potential ‘grey areas’ between the Red Book and Greek law.
This guidance note covers:
- Context and definitions;
- Foreshore: Effects of the foreshore and beach delimitation regime on seaside plots;
- Archaeology;
- Key money;
- Residual building coefficient (RBC)
- Unauthorised structures;
- Valuation certainty and uncertainty. -
Complaints handling
Published: July 2016
Reissued: October 2023
The purpose of this standard is to provide residential surveyors and valuers with information to assist in handling complaints and direct them towards more detailed guidance from RICS. -
Driving commercial performance in major projects and programmes (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper outlines some of the key challenges facing the UK infrastructure construction industry and the requirement to improve commercial performance in line with government targets relating to effectiveness and efficiency. -
Application of the RICS Valuation – Professional Standards in Portugal
This RICS national association valuation standard covers the application of the Red Book 2014 in Portugal. It is provided in both English and Portuguese.
RICS publishes, separately from the RICS Valuation – Professional Standards global (the ‘Red Book’), a number of RICS national association valuation standards and national guidance material. They are designed to cover specific statutory or regulatory requirements in local jurisdictions, while being consistent with relevant international standards.
This professional statement covers:
- PTPS 1: Compliance with Law no. 153/2015 of 14 September – Property Valuation Experts (Peritos Avaliadores de Imóveis – PAIs); and
- PTPS 2: Guidelines for RICS members who perform valuations in Portugal. -
Fluctuations
Published August 2016
Effective from 23 November 2016
The purpose of this guidance note is to outline the different types of fluctuating price mechanisms available for use within those contracts, selection of the most appropriate mechanism for particular situations, and techniques for calculating adjustments.
The guidance note is intended for anyone involved in fluctuating price contracts, particularly quantity surveyors. -
BIM for building surveyors (ARCHIVED)
Published August 2016
Effective from 1 November 2016
Archived June 2018
This document has been archived and is available on isurv for information purposes only.
Provides an accessible introduction to level 2 BIM, highlighting the important implications and considerations for building surveyors.
This guidance is written in the context of the government mandate for the adoption of level 2 BIM that came into force on 4 April 2016 and addresses:
- industry drivers for level 2 BIM
- level 2 BIM in an organisation context
- level 2 BIM for project delivery. -
Application of the RICS Valuation – Professional Standards in Cyprus
In Cyprus, the valuation profession is regulated by the Cyprus Scientific and Technical Chamber Law No. 224/1990.
Even though specific procedures, standards and methodologies are not in place, it is widely recognised and accepted that the RICS Red Book must be adopted when undertaking written valuations.
This guidance note aims to address several market practices that may differ due to market peculiarities and to clarify potential ‘grey areas’ between the Red Book and the Cyprus law and/or standard practice.
The guidance note is effective from the date of publication. -
Independent expert determination
Published December 2016
Effective from December 2016
Reissued December 2023
This document is designed primarily to assist those who are appointed either by the President of RICS or directly by the parties to a dispute to act as an independent expert to determine their dispute. It is also intended to assist the parties themselves and those acting for them by making them aware of the procedures likely to be followed.
This professional standard is based on the law and practice relating to expert determinations in England, Wales and Northern Ireland.
Independent expert determination is well suited to construction-related matters (e.g. workmanship and completion issues under development agreements or specific technical disputes) and in the area of dilapidations and service charge disputes.
This document was reissued in December 2023 as a professional standard. It had previously been published in December 2016 as a guidance note. No material changes have been made to the document. -
Valuation of buy-to-let and HMO properties
Published October 2022
Effective from 1 December 2022
There has been a major shift in the UK housing market that has led to an increased bias to private renting, both out of choice and out of need. These changes have their roots in tenure-neutral housing policies that have been adopted since the 1980s, the impact of which has been amplified by the general undersupply of homes and the affordability challenge faced by homebuyers.
Based on the English Housing Survey 2020 to 2021, 4.4 million households now call the private rented sector home. Growth has slowed since 2018 as regulatory and taxation changes have taken effect, although appetite for investment in the private rented sector remains strong given favourable returns compared with other investment opportunities.
A shift towards a higher proportion of professional landlords has also been seen over this period. The creation of buy-to-let has helped to shape a private rented sector that is fit for purpose and provides choice, value, and flexibility for tenants. Demand from tenants continues to be high and is expected to increase. The expansion of buy-to-let has created significant challenges for valuers in this market.
The purpose of this updated professional standard is to provide sufficient background information and guidance to ensure consistency in the assessment of residential investment properties to include:
- single residential units
- houses in multiple occupation and
- multi-unit blocks.
This document provides best practice and advice for members and end users. -
Archaeology and historic buildings (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper outlined legislation and guidance relating to archaeology and historic buildings that has particular significance to mineral surveyors. -
Water from abandoned mines (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This information paper attempts to provide a brief insight into the occurrence and nature of mine water. It explores the possible effect of mine closures on mine-water regimes and considers the legal aspect of mine abandonment. -
The role of the commercial manager in infrastructure
Published January 2017
Effective from January 2017
This RICS guidance note sets out how the role of the commercial manager is both expanding and deepening in the fast evolving field of infrastructure. It describes how the commercial manager should bring professional skill and influence through the infrastructure project lifecycle and demonstrates the importance of understanding and translating the investment case into disciplined processes; recognising the impact of scale and the uniqueness of engineering not seen elsewhere in general practice, and tailoring the approach to cost, risk and engaging the supply chain. -
Value management and value engineering
Published January 2017
Effective from 1 May 2017
This 1st edition guidance note introduces the concepts of value management and value engineering as they relate to construction projects and to the role of chartered surveyors, who have a key role to play in helping manage value across the project.
Value management and value engineering are both concerned with increasing the ratio between benefit (outputs) and the cost or effort (inputs) required, but are often separated in terms of their timing and their scale. But value is also a relative concept, and one of the roles of project management, supply chain procurement and overall procurement is to manage these imbalances so that the project as a whole provides value to the client.
This guidance note is part of the RICS QS and construction standards (the ‘Black Book’). -
Terms of engagement: rural estate management services
Published January 2017
Effective from January 2017
This guidance note explains matters which should be considered by the agent and the client in order to complete the Model Agreement for the provision of rural estate management services. -
Conacre Licence Agreement
Conacre is a system of letting agricultural land that is unique to Ireland. The current use of 'conacre' originated with the Land Acts of the mid-nineteenth century.
Today the term is used to reflect the system where landowners who wish to retain their land but not farm it can licence the land to another farmer, usually for a period of eleven months.
Under the latest reform to the EU Common Agriculture Policy (CAP) entitlements to be issued under the new support regime must be allocated to the person ‘enjoying the decision making power, the benefits and the financial risks in relation to agricultural activity being carried out on the land for which an allocation is requested’. This will have a significant impact on land let in conacre.
This fifth edition of the RICS Model Conacre Licence Agreement has been updated in conjunction with the Department of Agriculture & Rural Development (DARD) to reflect changes to entitlements and eligible land in 2015 under CAP reform. The agreement can be used to support the introduction of the Basic Payment Scheme (BPS) and Areas of Natural Constraint payments. It is intended that it can be used freely as a framework for a practitioner’s own agreement or used as it is. -
Conflicts of interest – global
Published March 2017
Effective from 1 January 2018
Reissued July 2023
The global professional standard on conflicts of interest provides clear rules for RICS members and regulated firms to identify and manage potential conflicts of interest.
Effective identification and management of conflicts of interest is an essential component of professionalism. The professional standard provides confidence to clients and consumers that RICS members and regulated firms are operating to the highest ethical standards.
Following extensive industry consultation and feedback, RICS developed this professional standard to provide clarification on:
- competing bidders
- effective date/transition
- conflicts arising during professional assignments
- passing confidential information to insurers and legal advisers.
The conflicts of interest professional standard, which supports the RICS Rules of Conduct, places an overarching mandatory requirement on all RICS members and regulated firms and specifies RICS’ expectations of how compliance with the Rules of Conduct should be achieved.
This document was reissued in July 2023 as a professional standard. It had previously been published in March 2017 as a guidance note. No material changes have been made to the document. -
Surveying assets in the built environment
Published March 2017
Effective from 1 April 2017
This guidance note provides a professional practitioner or individual commissioned to undertake a survey with outlined guidance on fulfilling elements of a client's brief, along with unique aspects arising from the myriad of asset type and their usages.
- Client brief
- Survey content
- Asset types
- Pre-site survey preparation
- Survey and data collection -
Surveyors advising in respect of compulsory purchase and statutory compensation, UK
Published April 2017
Effective from April 2017
Reissued April 2024
This professional standard applies when you provide advice regarding property interests in the UK that relates to the seeking or use of compulsory purchase or other statutory powers by or against your client, or where the seeking or use of such powers is contemplated.
It also applies when you are advising a body that is relying on or seeking to rely on another body to seek or use compulsory purchase or other statutory powers to assist with a project.
This document derives from the 2012 guidance note The calculation of surveyors’ fees relating to the exercise of statutory powers in connection with land and property (1st edition), for Scotland. Both this professional standard and the Appendix supersede the 2014 guidance note The calculation of surveyors’ fees relating to the exercise of statutory powers in connection with land and property (1st edition), for Scotland. -
Conflicts of interest: UK commercial property market investment agency
Published May 2017
Effective from 1 January 2018
Reissued July 2023
This professional standard provides RICS members and RICS regulated firms with mandatory requirements when acting on the open market sale or acquisition of a commercial investment real estate opportunity in the UK in order to avoid conflicts of interest prejudicial to their clients’ best interests.
It covers:
- dual agency, including related firms
- multiple introductions and
- incremental advice.
This document was reissued in July 2023 as a professional standard. It had previously been published in May 2017 as a professional statement. No material changes have been made to the document.
See also RICS' global professional standard 'Conflicts of interest' at: www.isurv.com/downloads/download/2140/conflicts_of_interest_–_global -
Rural arbitration
Published May 2017
Effective from 1 December 2017
Reissued April 2024
This professional standard is designed to assist rural chartered surveyors who are appointed to act in arbitrations dealing with rural assets and property, whether as advocates, experts or the arbitrator.
This document was reissued in April 2024 as a professional standard. It had previously been published in May 2017 as a guidance note. No material changes have been made to the document. -
RICS Valuation – Global Standards 2017 (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The RICS Valuation – Global Standards 2017 took effect from 1 July 2017, the same date as the IVS 2017.
The accompanying Basis for Conclusions explains the rationale behind the more significant changes made in the final version of the Red Book 2017. Specifically, it addresses the main refinements made in consequence of the responses received to the public consultation. It has been produced purely to assist the reader and does not form part of the standards.
Following the publication of the new edition of IVS, an updated Red Book takes effect from 31 January 2020 in line with the IVS. -
The Contractor's Basis of valuation for rating purposes
Published August 2017
Effective from August 2017
This guidance note is intended to be applicable for Contractor’s Basis rating valuations effective from 1 April 2017 and thereafter. The purpose of this guidance note is to aid the understanding of the Contractor’s Basis for the general rating practitioner while providing a common framework of the basis for the more experienced practitioner.
It covers:
- scope and application
- the approach to valuation
- stages of the valuation approach
- material change of circumstances. -
Make good guide
Published: October 2023
This document has been written for property professionals involved in make-good works in Australia (known as dilapidations in the UK). It deals primarily with commercial and industrial premises and provides advice to lessors and lessees regarding their legal obligations to repair, decorate or reinstate leased premises.
Make Good, when done badly, can be contentious, lengthy, costly affairs which can lead to disputes and even court action. Written by experienced RICS practitioners and Australian-based property lawyers, the document aims to establish and promote a transparent, professional process which begins at lease commencement and provides clear guidance to both landlords and tenants on the laws and processes; what to look for and how and when to act.
The document deals with every stage of involvement in the make-good process, including:
taking instructions and clarifying terms of engagement
determining the different types of schedule and when they might be served
understanding the different roles in which the property professional might be required to act
preparing the layout and content of a schedule of make good
quantifying the claim and preparing an assessment of costs, and
providing advice regarding the preferred timetable for serving of notices and ongoing dialogue, responses and meetings.
Sample checklists and schedule templates have been provided in the appendices, including a Recommended form of the Scott schedule (Appendix E) which can be downloaded as a Word document. -
Employer's agent: design and build
Published: October 2017
Effective from: 1 January 2018
Employer’s agent: design and build, 1st edition, is intended for use in conjunction with the JCT Design and Build Contract where an agent will be appointed by the employer to represent him or her. This guidance note considers the role and responsibilities of the employer’s agent and other ‘non-core’ pre-contract activities.
This guidance note includes:
- definition of employer’s agent;
- commencement of the role;
- competence, technical ability and experience; and
- appointment documents/service agreement.
This guidance note is part of the RICS QS and Construction Standards. -
RICS Valuation – Professional Standards Hong Kong
This guidance note provides assistance to RICS members on the application of the RICS Valuation – Global Standards 2017 (the Red Book) to valuations that have to be provided in compliance with the jurisdiction requirements in Hong Kong.
It covers:
- departures;
- effective date;
- compliance with RICS Red Book and Hong Kong legal requirements. -
Real estate risk management under the Alternative Investment Managers Directive (AIFMD)
The Alternative Investment Fund Managers Directive (AIFMD) has made risk management one of the fundamental functions for real estate investment funds. Given the importance of real estate for Europe’s alternative investment fund industry, RICS Europe has produced this guidance note to provide guidance to AIFMs on risk management for real estate.
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Whole life carbon assessment for the built environment
Published 19 September 2023
Reissued 21 November 2023
Effective from 1 July 2024
This professional standard will enable professionals to make prudent decisions to limit the whole life carbon impact of buildings and infrastructure. It facilitates carbon measurement from the production of construction materials to the design, construction and eventual end of life of built assets. -
Risk, liability and insurance
Published April 2021
Effective from 1 April 2021
Reissued October 2022
This document is intended to assist both members and their clients in understanding the main risks and liabilities associated with surveying. It guides members in the negotiation of equitable contracts with clients and the avoidance of major risks and pitfalls.
In October 2023, a new Appendix F was added to the publication, this appendix addresses the particular risk profiles that arise when construction projects are involved. In many cases, the provisions of the construction project are ‘tied’ contractually to the appointment of and obligations that exist for the surveyor, in particular with the requirement to enter collateral warranties and the like.
This document was reissued in October 2022 as practice information. It had previously been published in April 2021 as a guidance note. The regulatory requirements remain the same and no material changes have been made to the document. -
Digital systems and technology in infrastructure
This guidance note sets out how digital systems are commercially managed from the procurement and implementation phases through to their operational, maintenance and whole life cycle management within infrastructure assets. By making use of case study evidence from Network Rail's Digital Railway, and TfL's Oyster Card and 'contactless' electronic ticketing across the London transport network, it demonstrates the extent to which technology of this type is increasingly fundamental to infrastructure operational value.
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Bank lending valuations and mortgage lending value
Published March 2018
Effective from 1 June 2018
Reissued October 2022
This professional standard is primarily directed at those providing valuation services within or subject to EU jurisdictions for bank-lending purposes, in particular where the provision of a mortgage lending value (MLV) is requested. While designed for reference by RICS members, it may also assist understanding of the underlying issues by users and other stakeholders – borrowers, lenders, and regulatory authorities.
The standard covers:
- ’Sustainable’ or ‘long-term’ value methods (section 2 and Appendix A)
- the main definitions of MLV: EU, Germany and Spain (section 3) and
- the role of the RICS valuer (section 4).
In addition, this standard identifies some of the current developments in Europe concerning long-term valuations that are not currently part of the bank lending valuation process but may be required in the future.
This document was reissued in October 2022 as a professional standard. It had previously been published in March 2018 as a guidance note. No material changes have been made to the document. -
Valuation of assets in the commercial renewable energy sector
Published April 2018
Effective from April 2018
Reissued January 2023
This professional standard was prepared with regard to valuation practices in the UK. It is intended to assist the valuer in highlighting the main factors that affect the valuation of commercial renewable energy installations and to outline the valuation process and approaches.
This document was reissued in January 2023 as a professional standard. It had previously been published in April 2018 as a guidance note. No material changes have been made to the document. -
Strategic FM Framework (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance is the result of a collaboration between RICS and IFMA. It sets out a coherent, consistent approach to planning the provision of FM. It also reflects the competences required to pursue the qualification credentials required by both IFMA and RICS. -
Procurement of facility management
Published October 2020
Effective from January 2021
Reissued December 2023
This professional standard provides guidance on the various factors that need to be considered throughout a procurement process, including activities and key decisions during planning, procurement and post-procurement
.
The document is aimed at public and private sector property professionals involved in a facility management (FM) procurement process either within their territory or region, or globally. This includes property managers, directors of estates, heads of FM, consultants, RICS-regulated firms acting for a landlord and FM suppliers procuring services from subcontractors. Those managing in-house teams delivering FM services may also find some of the content helpful.
This document was reissued in December 2023 as a professional standard. It had previously been published in October 2020 as a code of practice. No material changes have been made to the document. -
RICS and global cost and commercial management of construction – Australia (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This guidance note outlines the role of commercial management within the Australian construction market, providing a framework of guidance covering the most common tasks that a commercial manager will perform on a construction project. However, it could equally apply to the overall commercial management of a framework contract within infrastructure or facilities management, as well as to a construction business or divisional unit. In addition, many of the commercial considerations are equally relevant for commercial managers representing clients or consultancies. -
Environmental risks and global real estate
Published November 2018
Effective from December 2018
Reissued April 2024
Both in real terms and in the growth of legislation, environmental considerations affect real estate in all sectors. Increasingly, there are implications for how we buy, sell, use and value real estate.
This first edition professional standard is aimed principally at the land and property acquisition, disposal and asset management stages of the property life cycle. It aims to provide guidance to chartered surveyors who are not specialists in environmental considerations and management or in the preparation of environmental reports including Land Quality Statements and Environmental Screening Reports. -
RICS Valuation – Global Standards: UK national supplement (UK Red Book)
Published: 19 October 2023
Effective from: 1 May 2024
For a number of jurisdictions RICS publishes national supplements to the Red Book Global Standards to assist members in the application of those standards in a local context.
The UK national supplement augments Red Book Global Standards for valuations that are subject to UK jurisdiction. -
Depreciated replacement cost method of valuation for financial reporting
The purpose of this UK guidance note is to draw attention to matters relevant to the use of the depreciated replacement cost (DRC) method of valuation.
The ‘cost approach’ and DRC method are regarded as synonymous terms; both are in common use around the world to describe a method of valuation of all types of assets. This guidance note also highlights the reporting requirements outlined in RICS Valuation – Global Standards 2017 – UK national supplement (RB UK) that are particularly relevant when the DRC method has been used. -
Countering bribery and corruption, money laundering and terrorist financing
Published February 2019
Effective from 1 September 2019
Reissued October 2022
This global professional standard sets out mandatory requirements for RICS members and RICS-regulated firms in relation to bribery, corruption, money laundering and terrorist financing.
It is divided into three parts:
1. Mandatory requirements for anti-bribery and corruption and for anti-money laundering and terrorist financing.
2. Guidance setting out supporting good practice regarding each of these areas.
3. Supplementary guidance on some key concepts described in parts 1 and 2.
If this document contradicts local legislation then the legislation takes precedence. -
Insights into energy efficiency and residential values
Published March 2019
Reissued October 2022
This practice information provides a comprehensive review of the issues that connect values in the residential sector to energy efficiency. It enables valuers to better understand the impacts of energy efficiency on the value and/or liquidity of residential buildings.
It considers the role of the valuer and how, through their data collection and reporting processes, they can play a part in promoting a more energy-efficient housing stock.
To achieve these aims, the document reviews the context within which energy efficiency is rising up the European regulatory agenda and the impact that this is having on value drivers.
This document was reissued in October 2022 as practice information. It had previously been published in March 2019 as an insight paper entitled Energy efficiency and residential values: a changing European landscape. No material changes have been made to the document. -
Valuation and sale price
Published March 2019
The MSCI Real Estate Valuation and sale price study has been running for over 20 years. This study is an important measure for the investment valuation community and contributes to the transparency and integrity of the marketplace. Valuations are key to performance measurement and pricing in the property industry.
This report compares data from the 2017 MSCI UK Annual Property Index against the sale prices of UK commercial property. It analyses the performance of the valuation profession in the UK property market by tracking the difference between valuations of real estate against actual sales.
This report addresses two key questions in the UK market:
1. How much do sale prices differ from previous valuations?
2. Are differences random or were sale prices consistently above or below the latest valuation? -
Cities, health and well-being
Published: June 2018
The urban environment has long been recognised as a crucial to human health, but the last few years have seen a marked growth in the health and well-being agenda. This insight paper recognises the major contribution property professionals can make in establishing healthy, liveable places for all. -
The use and value of commercial property data
Published April 2019
As the property industry adapts to the realities of a digital world dominated by cloud computing and artificial intelligence (AI), the amount of available data concerning real estate is increasing exponentially. Data concerns almost every aspect of the built environment: from how we use and interact with properties as individuals and businesses, through to how a building's energy consumption and construction details are being recorded and analysed to help surveyors, asset managers, building managers, developers and investors make informed decisions about real estate processes.
The industry appears to be at a tipping point, with chartered surveyors and other property professionals having to use skills beyond the traditional surveying competencies. Data analysis is one such area that is growing in importance. It is no longer enough simply to possess data; the value lies in being able to use it.
This paper aims to discuss the benefits of and challenges to an increasing use of data in the commercial property market. It considers not only its availability and quality but also the skills needed by surveyors to recognise its uses and maximise the value in analysing it. The paper deals with the ownership of data, its security and regulation and also makes predictions and recommendations for the future of a property world full of accurate, easily available data. -
RICS Valuation – Global Standards 2017 jurisdiction guides
The Red Book Global Edition and, where they apply, the national supplements are written
primarily for valuers. By contrast, jurisdiction guides will be of use especially to
property owners and professionals who are involved in the valuation process, either by
commissioning a valuation or by providing advice in relation to its outcome. Owners and
their advisers do not usually need to know the full detail of the valuation process and the
regulations that govern it (which are set out in Red Book Global Edition), but their understanding of the outcome of the valuation is likely to benefit from a better understanding of the key factors that will influence a valuer, and thus the value of the property. -
International models for delivery of affordable housing in Asia
Published May 2019
This insight paper aims to identify different national housing models across Asia for delivering affordable housing, in order to see what lessons may be transferable. It raises questions about acceptable standards of affordable housing for different socioeconomic conditions, including tenure security, construction standards and environmental/space standards. -
Drones: applications and compliance for surveyors
Published: May 2019
This insight paper discusses the opportunities, rapidly developing applications and compliance challenges of using drones in a surveying environment, particularly in light of recent high-profile cases of misuse. The insight paper also highlights the fast-moving national and international regulatory issues impacting the technology's integration into widespread use in the land, property and construction sectors. -
Financial viability in planning: conduct and reporting
Published May 2019
Effective from 1 September 2019
Reissued April 2023
This 1st edition professional standard sets out mandatory requirements that inform the practitioner on what must be included within financial viability assessments and how the process must be conducted.
This is to demonstrate how a reasonable, objective and impartial outcome, without interference, should be arrived at, and so support the statutory planning decision process. It also aims to support and complement the government's reforms to the planning process announced in July 2018 and subsequent updates, which include an overhaul of the National Planning Policy Framework and Planning Practice Guidance on viability and related matters.
The new policy and practice advice prioritises the assessment of viability at the plan-making stage and identifies existing use value as the starting point for assessing the uplift in value required to incentivise the release of land.
Given that planning applications involve a statutory process that is subject to public scrutiny, the requirements in this professional standard are important in providing public confidence in a process that is inevitably complex, but nevertheless must inform the planning decision-maker.
This document was reissued in April 2023 as a professional standard. It had previously been published in May 2019 as a professional statement. No material changes have been made to the document. -
RICS Valuation – Global Standards 2017: India national supplement
As paragraph 4.3 of RICS Valuation - Global Standards 2017 (Red Book Global Edition) explains, for a number of jurisdictions RICS publishes national supplements to the Red Book global standards to assist members in the application of those standards in a local context.
The India national supplement augments Red Book Global Edition for valuations that are subject to Indian jurisdiction. The first edition, published on 10 July 2019, is effective for valuations where the valuation date is on or after 10 July 2019. -
RICS Valuation – Global Standards 2017: Australia national supplement
As paragraph 4.3 of RICS Valuation - Global Standards 2017 (Red Book Global Edition) explains, for a number of jurisdictions RICS publishes national supplements to the Red Book global standards to assist members in the application of those standards in a local context.
The Australia national supplement augments Red Book Global Edition for valuations that are subject to Australian jurisdiction. The first edition, published on 12 August 2019, is effective for valuations where the valuation date is on or after 12 August 2019. -
Valuation of development property
Published October 2019
Effective from 1 February 2020
Reissued April 2023
The aim of this professional standard is to guide the valuer in the approach to development property valuations.
A development property is defined in the International Valuation Standards (IVS) as:
‘interests where redevelopment is required to achieve the highest and best use, or where improvements are either being contemplated or are in progress at the valuation date’.
Development projects can vary from single or multiple residential projects to industrial estates, shopping centres, other retail developments, offices and mixed-use developments.
Development property valuations are often complex, have a potentially high variation and incorporate optionality. They can relate to specialised markets and therefore require a high level of expertise.
The principles set out in this professional standard apply to all valuations of development property and should be read in conjunction with the latest edition of RICS Valuation – Global Standards ('Red Book' Global Standards) – incorporating the International Valuation Standards (IVS), in particular IVS 410.
This document was reissued in April 2023 as a professional standard. It had previously been published in October 2019 as a guidance note. No material changes have been made to the document. -
Comparable evidence in real estate valuation
Published October 2019
Effective from 9 October 2019
Reissued April 2023
This professional standard discusses the use of comparable evidence in the valuation process.
It has four main purposes:
- to outline the principles of the use of comparable evidence
- to encourage consistency in the use of comparable evidence globally
- to address issues of availability and use of comparable evidence, especially in challenging market conditions and
- to consider potential sources of comparable evidence and their relative importance
The use of comparable evidence in the valuation of the principal types of real estate asset is examined. This professional standard does not discuss comparable evidence in the valuation of plant and equipment and other business assets, or personal property, but many of the principles described are also relevant to the valuation of these asset types.
This document was reissued in April 2023 as a professional standard. It had previously been published in October 2019 as a guidance note. No material changes have been made to the document. -
Valuation of flexible workspace
Published October 2019
Flexible workspace is real estate space of varying size provided for business or institutional purposes for varying periods of time, usually for shorter periods and with more inclusive benefits than a traditional lease.
While the concept of flexible workspace has been around for a century or more, in recent years it has moved from a niche part of the office space market to become a dominant sub-sector of the market. As such, there is greater interest than ever before in appropriate ways to conduct valuations of properties that provide flexible workspace.
This insight paper includes insights and reflections from key players and commentators in the flexible workspace market. These include some of the largest operators, brokers, lenders and providers of valuation services in the world, as well as smaller regional stakeholders. It has been compiled and edited to develop and enhance the understanding of this market for the benefit of the wider flexible workspace industry, reaching beyond the needs of valuers and other real estate professionals to all stakeholders, including those with no technical expertise. -
Client money handling
Published October 2019
Effective from 1 January 2020
Reissued October 2022
This professional standard provides clear rules for RICS members and regulated firms to have the appropriate controls and procedures to keep client money safe. It provides confidence to clients and consumers that RICS-regulated firms are operating to high standards. The document applies to all RICS members and regulated firms operating in the UK.
The professional standard provides clear requirements and advice to firms about:
• client account requirements
• appropriate accounting controls
• the information that firms must provide to clients
• how to handle client money including rules for managing any unidentified funds.
RICS members and regulated firms should also refer to the Client Money Protection Scheme Rules (the Scheme Rules) for full details of the coverage of the general scheme for surveying services and the separate scheme for property agents.
Any claims will be assessed under the terms of the relevant scheme and for the avoidance of doubt in the event of any conflict between this professional statement and the Scheme Rules, the Scheme Rules will take precedence.
This document was reissued in October 2022 as a professional standard. It had previously been published in October 2019 as a professional statement. The regulatory requirements remain the same and no material changes have been made to the document. -
Big data, smart cities, intelligent buildings - surveying in a digital world
This insight paper considers the potential disruptive impact of big data and digital technologies on traditional surveying practice. Some of our professionals are directly engaged with the area on a day-to-day basis as data generators. Their industries have always had a strong technical basis and have been closely involved in the sector’s technological developments. Others rely on large databases and big data as users of other people’s content, and so approach this world from a different perspective. Some professionals may seem to be less directly impacted, nevertheless their sectors are steadily being transformed, even as their private practice appears to remain the same.
It is fair to say that no part of surveying practice will remain untouched by the impact of big data and digital technologies. This will be either through proactive adoption of new digitally based approaches to our work; being led by client demand to deliver these services; or being forced
by digitally enabled competition from existing providers and new entrants. -
Surveyors advising in respect of the Electronic Communications Code
Published November 2019
Effective from 14 November 2019
The electronic communications sector has witnessed dramatic evolution both in terms of the development of new technologies and the demand for services. This has resulted in a profound shift in the way digital electronic communications are deployed, accessed and used. The government acknowledged this by enacting the Electronic Communications Code at the end of 2017, as part of the Digital Economy Act 2017, to facilitate the delivery and maintenance of high quality digital electronic communications infrastructure and to accommodate future technological development. The Code regulates the relationship between electronic communications network operators, infrastructure providers and site providers throughout the UK and provides a statutory framework for establishing agreements to place, operate and maintain electronic communications apparatus on land and property.
The government’s objective is to achieve the right balance of interests between site providers, electronic communications providers and, most importantly, the public interest in access to a choice of high-quality electronic communications services, and a competitive and sustainable digital communications infrastructure.
The aim of this guidance note is to highlight the main factors that may influence or impact the variety of roles a surveyor may be called on to perform within this environment. Given the dynamic nature of the industry, it is not intended to provide an exhaustive body of guidance but to identify the main issues likely to arise. This ground-breaking guidance note will also provide a framework that surveyors can refer to when advising their clients in relation to electronic communications networks and installations that fall under the scope of the Electronic Communications Code. -
Home survey standard
Published November 2019
Effective from 1 March 2021
Reissued April 2024
As part of our commitment to promoting and enforcing the highest standards in the residential sector, the RICS Home survey standard will become the best practice benchmark – enabling adoptees to demonstrate consistency, deliver the highest quality of service, meet evolving consumer needs and also contribute to delivering trust in the home survey market across the UK. It brings together the views of RICS professionals, cross-industry stakeholders and consumers.
In April 2019, RICS launched an industry and consumer consultation following an extensive review of existing guidance, which identified the need for a professional standard with a set of mandatory requirements for RICS members and regulated firms.
The resulting RICS Home survey standard is a fit-for-purpose standard for RICS members and regulated firms and delivers to current market needs. It is designed to significantly increase consistency, transparency and competency across all residential surveying in the UK and will be the single standard for condition-based home surveys. The concise mandatory requirements establish ‘benchmarks’ around which firms can design and deliver services that not only meet their clients’ needs but that the public can recognise and trust.
The purpose of this professional standard is to:
• establish a clear framework that sets minimum expectations – this is to protect and maintain consistent and high-quality standards in residential property survey services that RICS members and regulated firms provide
• provide mandatory requirements for RICS members and regulated firms in the UK who deliver any level of residential property survey
• replace and harmonise previous RICS publications relating to residential surveys.
In addition to the document, RICS will be developing supporting tools and materials over the coming months for members and firms delivering condition-based survey services to clients. -
RICS Valuation – Global Standards
Published 30 November 2021
Effective from 31 January 2022
The new edition of Red Book Global Standards (RICS Valuation – Global Standards) takes effect on 31 January 2022, the same date as the new edition of the International Valuation Standards (IVS).
The accompanying Basis for conclusions explains the rationale behind the more significant changes made in the new edition of Red Book Global Standards. Specifically, it addresses the main refinements made in consequence of the responses received to the public consultation. It has been produced purely to assist the reader and does not form part of the standards.
The main reason for issuing the update to Red Book Global Standards is to take account of the changes to the IVS, which Red Book Global Standards adopts and applies. -
Technical due diligence of commercial property
Published January 2020
Effective from 1 April 2020
Reissued April 2023
The purpose of this standard is to ensure that all technical due diligence (TDD) reports are consistent around the globe, while bringing clarity for a prospective purchaser, occupier or financier about any risks associated with a property transaction from a technical perspective.
Under previous guidance, RICS members or firms have always been required to undertake an impartial and professional assessment of a property and provide a professional opinion of the condition, highlighting any deficiencies that could have an impact on the building or its occupants.
However, the standard recognises that chartered surveyors often take the lead in the TDD process, liaising directly with specialist subconsultants and coordinating multidisciplinary inspections. All future reports are expected to assess every element of the building methodically, providing thorough recommendations and making accountability clear.
Alongside this, the standard aims to ensure that chartered surveyors produce a more useful document for any buyer, seller or invested party, reflecting the complexity of the TDD process in modern built assets.
The standard reinforces guidance about health and safety and fire safety; all members or firms should clearly stipulate any defects that require ‘immediate’ action, or foreseeable defects that could pose a danger. If any such defects are listed, the appropriate person – for example, the building owner or facilities manager – should be contacted as soon as reasonably possible to allow appropriate action to be taken.
A ‘traffic light’ risk rating is also included in the standard, highlighting to clients the areas that require appropriate action in order of importance.
This document was reissued in April 2023 as a professional standard. It had previously been published in January 2020 as a guidance note. No material changes have been made to the document. -
Blockchain: an emerging opportunity for surveyors?
Published: February 2020
Every so often a revolutionary digital break-through emerges. The most recent being a technology allowing a decentralised, reliable and verifiable record of transactions, which is maintained across multiple computers using peer-to-peer networking and cryptography – blockchain.
This insight paper provides a balanced view of the outlook for blockchain, its application to the real estate, built and natural environment and construction industries, and what it could mean for RICS professionals and RICS-regulated firms looking to stay at the forefront of innovation. -
Code for leasing business premises
Published February 2020
Effective from 1 September 2020
Reissued September 2023
This RICS professional standard is the result of pan-industry discussion between representatives of landlords, tenants and other trade bodies.
The objective is to improve the quality and fairness of negotiations on lease terms and to promote the issue of comprehensive heads of terms that should make the legal drafting process more efficient. The standard and code do not prescribe the outcome, but seek to make it fair and balanced by identifying the terms that are usually important and encouraging both parties to obtain advice from property professionals. This enables negotiations to proceed properly so that each party can make an informed decision about whether to proceed on the terms that they negotiate.
The lease code and the accompanying template heads of terms and checklist should be used as a reminder for negotiations before the grant of a new lease and at the time of any lease renewal. They should assist RICS members in ensuring that landlords, tenants and guarantors who they are advising have a clear understanding of the commitments that they are entering into.
The professional standard applies to lettings of premises in England and Wales to tenants who will carry on trade, professional or other business activities in them, but it does not apply to agricultural lettings, premises that will only be used for housing plant and equipment (such as electricity transformers or telecoms) or advertising media (such as hoardings), premises that are intended to be wholly sublet by the tenant, or to premises being let for a period of not more than six months.
This document was reissued in September 2023 as a professional standard. It had previously been published in February 2020 as a professional statement. No material changes have been made to the document. -
Beyond COVID-19: Reopening of commercial buildings
This document has global applicability and is designed to give support and advice on the preparations and considerations for the reopening of commercial buildings once pandemic lockdown restrictions are lifted.
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Beyond COVID-19: Valuation approaches and evidence during the COVID-19 health crisis
This document helps RICS members valuing real estate in the aftermath of COVID-19 where transaction evidence is limited.
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Beyond COVID-19: Data protection and reopening the property market
This document provides support to all RICS regulated firms in England on the data protection considerations they will need to apply when recording the health information needed to enable safe working in client properties, whether these are residential or commercial.
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Beyond COVID-19: Residential valuation physical inspections and surveys
The purpose of this practical guidance is to enable RICS professionals and RICS regulated firms to deliver services to clients safely, consistently and in line with UK government guidelines.
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Beyond COVID-19: Inspections and visits for non-domestic properties
Recommendations on inspections and visits for non-domestic properties during COVID-19 in England.
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Measuring social value in infrastructure: Lessons from the public sector
Published September 2020
As the infrastructure sector continues to shift its focus from economic value to more holistic social value, projects are being designed, built and assessed in a new way. Government regulation and consumer demands mean that the industry is being required to deliver and demonstrate social impact. Indeed, social value represents an opportunity for the infrastructure industry to adjust its way of doing business to affect positive change, and impact on people’s quality of life as we seek to ‘Build Back Better’ from COVID-19.
RICS professionals will have an increasingly key role to play in this, helping clients understand and set social value strategy, and measuring the impact of projects effectively. Not least because national governments, such as, for example, the UK’s emerging ‘value toolkit’, will increasingly demand a wider ESG approach to construction initiation and procurement.
However, embedding social value into infrastructure delivery is not without its challenges. Currently, the infrastructure sector does not consistently define or measure social value. It lacks a robust set of standards and objectives to guide the delivery and assessment of social value, and there is little capacity for social value measurement.
Within this insight paper, we provide an introduction and overview of social value measurement to RICS professionals. We outline the current issues with measurement, and set out the foundations for consistent and robust social value measurement by demonstrating and discussing the best practice developed in the public sector.
This paper:
• Reviews current practice, focussing on core measurement frameworks considered best practice by government bodies, such as cost-benefit analysis.
• Addresses the issue of valuing the broader societal effects of infrastructure projects (including environmental impacts).
• Details 7 international case-studies to illustrate and discuss best practice. -
Insights into benchmarking in the infrastructure sector
Published August 2020
Reissued April 2023
Building a strong project programme – cost, schedule and proven delivery record – is critical for the sustained infrastructure investment that will be fundamental to the economic recovery from the impact of COVID-19, and in pioneering better spaces for people to work and live.
An essential part of capital planning and programming is developing a firm understanding of project costs and performance. Benchmarking, the process of comparing projected or actual project cost and performance, is therefore central. And by impacting the economic, social and environmental outcomes of infrastructure projects, benchmarking ensures investments in the sector are effective and significant investments in major global infrastructure projects are prudently and effectively deployed. But what are the obstacles holding back consistent benchmarking across the industry? And how can we improve it?
Within this global insight we provide an overview of benchmarking in the infrastructure sector for RICS members, discussing the types of benchmarking and the processes involved, and demonstrating examples of best practice.
This paper also:
- outlines the key benefits of benchmarking
- discusses the use of data and analytics in modern benchmarking practices and
- demonstrates the practical relevance of benchmarking through a series of case studies.
This document was reissued in April 2023 as practice information. It had previously been published in August 2020 as an insight paper. No material changes have been made to the document. -
The age of unreal estate
Published October 2020
We are in the middle of a period of drastic socioeconomic change today, change that has widespread implications for the use of real estate. Rapid technological advances, a growing emphasis on environmental and social impacts, and the wellbeing and productivity of a building’s users have all become important drivers for reconsidering how we think about property. COVID-19 has dramatically accelerated this conversation, radically changing demand for and use of buildings across the built environment while bringing unprecedented challenges.
Real estate must and will respond. For it to do so, we must ask how it will remain relevant to its customers, and therefore how RICS professionals engaged in its design, supply and management will also ensure that they remain relevant in a changing landscape.
This insight paper suggests an agenda for change, including a customer-centric, people-centric and responsible approach that recognises the rapidly evolving role of real estate. While compliance, cost and function remain critical, they must now be considered alongside other factors of equal importance to organisational objectives, such as environmental performance, stimulation and the experience that they provide. To measure a building's performance in these areas and inform professionals’ decision-making, better and more detailed data will be key. -
Cost prediction
Published November 2020
Effective from 1 July 2021
This 1st edition professional statement provides an overview of global best practice in cost prediction and the implementation of International Construction Measurement Standards (ICMS) for cost management professionals.
Different markets and construction sectors undertake cost prediction in different ways. Eliciting the key principles from these various approaches, the document sets out mandatory requirements which RICS professionals and RICS-regulated firms must follow when producing a cost prediction report for a client or senior management. -
Developing a global standard for fire reporting
Published December 2020
Reissued July 2023
Fire is a universal risk, impacting all societies, economies and geographies. The costs to people, property, business and the environment are enormous. However, the ways in which data on fire incidents, fatalities, injuries, impacts and costs are collected, recorded and estimated vary greatly across countries, organisations and sectors. This undermines decision-making, resource application and the effective management of the risks of fire.
A lack of consistent data makes it difficult to compare substantial factors, complicating the development of effective mitigation strategies at all levels - from government policies, to business or portfolio risk management approaches and occupant or tenant individual risk management decisions on furnishings, appliances, behaviours and more.
It is a crucial issue to address as we act in the public interest to help build safer and better places to live and work.
Improved data on the causes and impacts of fire will enable a better understanding of the types of communities, buildings and infrastructure where fire safety can be significantly improved through application of risk mitigation standards, guidelines and regulation.
This practice information:
- provides an overview of the scale of the impact of fire loss globally
- discusses challenges in data collection and data comparison
- sets out what data should be collected and
- proposes a global standard for fire reporting to improve approaches to tackling fire and its impacts.
This document was reissued in July 2023 as practice information. It had previously been published in December 2020 as an insight paper. No material changes have been made to the document. -
Change control and management
Published January 2021
Effective from 1 April 2021
Reissued March 2024
This practice information gives advice on how to handle changes proposed and made after a contract is agreed and covers the role of the person requiring the change, whether the employer’s agent, the project manager or the contract administrator. It also looks at the contrast between a change and a variation and the different circumstances that apply to each, with reference to relevant contract provisions. This practice information supports the RICS core competency of Contract practice.
This practice information does not detail issues such as organisational change that might be taking place at the same time as the project, which could affect change and its management. Neither does it address value management or value engineering – professionals are encouraged to refer to the relevant RICS document for such information. -
Client money handling for livestock auctioneers
Published February 2021
Effective from 8 February 2021
Reissued October 2022
This professional standard provides mandatory requirements and guidance for RICS firms acting as livestock auctioneers. RICS firms selling any property at auction for a third party must do so as agent, ensuring that purchase money is handled as client money. There is one exception – where the asset sold is exclusively livestock. In this instance, subject to some other conditions being met, the firm may contract to act as principle in the financial transaction.
This professional standard outlines the mandatory requirements and best practice guidance for livestock auctioneers in terms of how to deal with client money in both of the above circumstances.
This document was reissued in October 2022 as a professional standard. It had previously been published in February 2021 as a professional statement. The regulatory requirements remain the same and no material changes have been made to the document. -
Valuation of properties in multi-storey, multi-occupancy residential buildings with cladding
Published March 2021
Effective from 5 April 2021
This document is intended to help valuers undertaking valuations for secured lending purposes on domestic residential blocks of flats in the UK only, but may also be useful when undertaking valuations of such properties for other purposes. -
RICS Valuation – Global Standards 2020 – translations
The new edition of Red Book Global Standards (RICS Valuation – Global Standards) took effect on 31 January 2020, the same date as the new edition of the International Valuation Standards (IVS).
The main reason for issuing the update to Red Book Global is to take account of the changes to the IVS, which the Red Book Global adopts and applies. However, the opportunity has been taken to make some other changes and refinements to Red Book Global in the light of experience and developments since the previous edition was issued in June 2017. -
Assessing viability in planning under the National Planning Policy Framework 2019 for England
Published March 2021
Effective from 1 July 2021
Reissued April 2023
This professional standard is intended to help professionals working in planning and development to apply the government’s national planning policy for England, which is currently focused on delivering 300,000 dwellings per annum. The government is trying to balance the need to deliver local plan objectives that affect us all with ensuring land for development comes forward. It has prescribed a way to assess viability for this purpose and helps professionals in the sector to do this faster and more transparently. It also responds to Judge Holgate’s suggestion that RICS produce additional guidance in this area of practice.
This document was reissued in April 2023 as a professional standard. It had previously been published in March 2021 as a guidance note. No material changes have been made to the document. -
Subcontracting
Published April 2021
Effective from 1 July 2021
This guidance note covers most issues that can arise as a result of subcontracting on a major project, but some of these issues will not arise on most smaller projects. It is necessarily limited in its content and focuses on subcontracting in the context of building and civil engineering projects in the UK, but not private finance initiative (PFI) projects. It does not cover the management of subcontractors on site, or the role of suppliers of materials or goods. -
Land measurement for planning and development purposes
Published 24 May 2021
Effective from 24 August 2021
Reissued April 2023
RICS' 'Land measurement for planning and development purposes' is an important piece of guidance for surveyors engaged in preparing land for development, and is intended to bring consistency in the use of the terminology applied to different areas of land for this purpose.
In general usage, the term ‘site’ can be applied to many different parcels of land suitable for development. As a development proposal takes shape, more specific measurements of area are required. This professional standard enables the different measurements of land relied on in the planning and development process to be clearly distinguished.
This professional standard defines three distinct areas: the land ownership area, referring to the legal land ownership area; the site area, identified for planning application purposes; and the net development area, identifying the part of the site that will be occupied by buildings. Advice on the calculation of development density is also provided.
It provides global best practice, but practitioners will need to be aware of any local jurisdictional requirements that may have superior authority.
This document was reissued in April 2023 as a professional standard. It had previously been published in May 2021 as a guidance note. No material changes have been made to the document. -
Valuation of residential leasehold properties for secured lending purposes
Published 27 May 2021
Effective from 1 July 2021
Reissued May 2023
This professional standard is intended to support valuers undertaking valuations for secured lending purposes on residential leaseholds in England and Wales.
The guidance supplements RICS Valuation – Global Standards (Red Book Global Standards), the UK national supplement 2018, and mortgage specification in appendix 10 of the 2014 edition of the latter, as revised in 2015.
The guidance has particular application for valuing diminishing lease terms of less than 80 years remaining, when marriage value becomes payable and, in many markets, there starts to be a material impact on market value.
Although the publication refers to the process for lease extension and enfranchisement, it is not a guidance note for undertaking valuations to that end.
RICS is aware of pending government and regulatory reform of residential leasehold, and it plans to update the contents of this guidance note in due course to take account of such reform. Readers of guidance related to leasehold should therefore familiarise themselves with the latest position before applying any advice.
This document was reissued in May 2023 as a professional standard. It had previously been published in May 2021 as a guidance note. No material changes have been made to the document. -
Insights into real estate registration and cadastre
Published 1 November 2021
Reissued October 2022
Effective land administration and real estate registration is a key governance, social justice and economic requisite for any developed or developing country. It forms the basis of any functioning land and property market and, when ineffective (or non-existent), is the source of almost insurmountable problems, including a lack of land and property taxation revenue, non-functioning land/property markets, insecure tenure (and all that entails, including the inability to issue mortgages or invest), decreased public health intervention, lower infrastructure development, increased conflicts and disputes, and much more besides.
So how does a nation move towards a functioning real estate and cadastral system that benefits the public and enables economic development? After all, over 70% of global land and property is unregistered – putting a brake on any hope of economic and social development in many nations.
This practice information focuses less on the academic and more on the practical and technical needs of any land initiative, from tech innovation to governance and capacity-building and the role of licensed surveyors. The expert authors draw on their own professional experience during decades of working at the sharp end of land administration and registration practice in numerous countries.
This document was reissued in October 2022 as practice information. It had previously been published in November 2021 as an insight paper entitled Real estate registration and cadastre. No material changes have been made to the document. -
IFRS 16: Principles for UK real estate professionals
Published March 2022
Reissued October 2022
IFRS 16 Leases is an International Financial Reporting Standard for lease accounting that came into force on 1 January 2019. It was introduced by the International Accounting Standards Board as a new accounting standard that sets out the principles for the recognition, measurement, presentation and disclosure of leases on balance sheets.
A key objective of IFRS 16 Leases is to ensure that companies report information for all of their leased assets in a standardised way and bring transparency on companies’ lease assets and liabilities.
IFRS 16 is an accounting standard and as such is predominantly the domain of accountants and finance teams. However, it is beneficial if real estate professionals are aware of the high-level principles of IFRS 16 and how these impact on real estate leases. The subject matter is topical given the imminent implementation of the standard by the UK public sector.
This practice information was developed by a working group of expert valuers, accountants and other key stakeholders to explore the application of IFRS 16 Leases specifically from a UK-based real estate professional’s perspective, and in both its private sector and public sector application. As such, it refers to the views and opinions of that group as insight into this topic and its common practice only.
This document was reissued in October 2022 as practice information. It had previously been published in March 2022 as an insight paper. No material changes have been made to the document. -
Letting waste sites: an insight into Network Rail policy
Published March 2022
Reissued October 2022
In 2016, Network Rail developed a strategic framework for its sites near railway lines being used for activities such as waste management, storage, processing, recycling and car breaking, as scrapyards, or for moving or storing materials such as scrap metal or chemicals. Network Rail now uses this framework to improve management of its waste-related sites and help minimise risks for itself and tenants alike, as well as supporting continued enhancement of infrastructure for recycling and reusing waste. The company defines waste sites as land that is leased for any waste-related use, or any use that involves bringing waste on or off site.
This practice information from RICS provides an overview of this Network Rail framework, its key component parts, and illustrates best practice for both the leasing and management of such sites. Given the growing demand for sites suitable for waste-related activity, by publishing this paper, RICS provides some key learnings for professionals engaged in advising landlords and tenants of such sites and provides an insight into how best to minimise risk for all concerned.
This document was reissued in October 2022 as practice information. It had previously been published in February 2022 as an insight paper entitled Network Rail policy for letting waste sites: Sharing knowledge to support professionals. No material changes have been made to the document. -
Benchmarking in the rural sector
Benchmarking is the process of comparing an organisation and its operations/processes against other organisations in the industry or sector in which it operates, or in the broader marketplace. Challenging the performance of any business using benchmarking should be imperative in any economic climate. However, with so much change in the rural sector currently taking place, the need for rural businesses to benchmark is even more critical. RICS have published this Insight paper on rural benchmarking with the aim of equipping RICS rural professionals with benchmarking skills, which will ensure their reputation as the most trusted advisers and those best placed to add value to rural property, and to ensure that land-based businesses are maintained and enhanced.
This insight paper provides a holistic overview of benchmarking, its applicability to the rural sector and provides an insight into available tools and what some in the sector are currently measuring and benchmarking with some real-life case study examples. Preliminary research for this Insight paper indicates that the current use of benchmarking tools is inconsistent across the rural sector. One of the key findings of the paper itself highlights the clear need for some consistency in benchmarking performance of rural estates and rural land-based businesses, which often have a diverse range of assets and income streams, coupled with diverse ownership motives, which RICS will be further exploring. -
Insights into compulsory purchase
Published December 2021
Reissued October 2022
This paper on compulsory purchase asks fundamental questions about the practice in the 21st century. The practice plays and will continue to play an important role in our economy as we develop our infrastructure, regenerate our communities, and ensure provision of housing and essential public services and utilities. All of this must be carried out in the context of significant changes to the economy, accelerated by the COVID-19 pandemic, and of the challenges posed by climate change and the move to a net-zero carbon economy.
RICS recognises the vital importance of ensuring best practice in the use of compulsory purchase, and this paper is designed to stimulate further discussion and wider debate in the sector. Some of the suggestions would require fundamental changes in legislation, whereas other areas could create substantial change by updating and strengthening best practice in the day-to-day work of surveyors and other practitioners in the sector. We look forward to continuing the discussion and working with stakeholders in this important area for the future economic growth and well-being of the country.
This document was reissued in October 2022 as practice information. It had previously been published in December 2021 as an insight paper. No material changes have been made to the document. -
RICS Forms of Consultant's Appointment (England and Wales)
Published May 2022
RICS has published a new edition of the RICS Forms of Consultant’s Appointment.
RICS members and others involved in the appointment of surveyors are encouraged to use these Forms for a wide variety of different disciplines within the construction process and related fields.
The Appointment Forms are published in three separate versions: Standard, Short and Short Designated, with explanatory notes provided on how the Forms and Scope documents are to be used.
Versions for Northern Ireland and Scotland have also been published. -
RICS Forms of Consultant's Appointment (Northern Ireland)
Published May 2022
RICS has published a new edition of the RICS Forms of Consultant’s Appointment.
RICS members and others involved in the appointment of surveyors are encouraged to use these Forms for a wide variety of different disciplines within the construction process and related fields.
The Appointment Forms are published in three separate versions: Standard, Short and Short Designated, with explanatory notes provided on how the Forms and Scope documents are to be used.
Versions for England and Wales and Scotland have also been published. -
RICS Forms of Consultant's Appointment (Scotland)
Published May 2022
RICS has published a new edition of the RICS Forms of Consultant’s Appointment.
RICS members and others involved in the appointment of surveyors are encouraged to use these Forms for a wide variety of different disciplines within the construction process and related fields.
The Appointment Forms are published in three separate versions: Standard, Short and Short Designated, with explanatory notes provided on how the Forms and Scope documents are to be used.
Versions for England and Wales and Northern Ireland have also been published. -
RICS Forms of Consultant's Appointment (Scotland) (ARCHIVED)
These documents have been archived and are available on isurv for information purposes only.
The latest edition was published in May 2022 and is available to download from: www.isurv.com/info/1557/rics_forms_of_consultant_appointments -
Planned preventative maintenance
Published January 2022
Effective from 1 April 2022
Reissued October 2022
This professional standard has global application to commercial and residential property. It sets out the general principles that should be adopted when undertaking a planned preventative maintenance (PPM) survey and report for built assets, and provides RICS members, regulated firms and their clients with a source of best practice.
It focuses on PPM reports for built assets (the type a building surveyor would undertake), rather than the type of planned maintenance reports for MEPF asset/component replacement that might be carried out by an MEPF engineer or facilities manager.
PPM surveying has become a core service provided by chartered building surveyors. It is key to helping clients understand the current condition of their real estate assets, which enables them to plan the necessary investment to ensure each element of the building performs as intended. Although the term PPM refers to ‘preventative’ maintenance, it should be acknowledged that maintenance is not always preventative. This standard concerns all aspects of planned maintenance.
Key topics include:
- client instruction, expectations and requirements
- survey preparation, including competence, information gathering, equipment, health and safety and third-party consultants
- conducting the inspection, including recording data, access and building elements
- legal and technical, including health and safety, fire engineering and accessibility, and
- producing a report, including the PPM schedule, report contents and cost data.
The standard also includes a PPM services checklist which is provided as a separate download.
This document was reissued in October 2022 as a professional standard. It had previously been published in January 2022 as a guidance note. The regulatory requirements remain the same and no material changes have been made to the document. -
Valuation approach for properties in multi-storey, multi-occupancy residential buildings with cladding
Published 15 December 2023
Effective from 1 January 2024
This document is intended to help valuers undertaking valuations for secured lending purposes on domestic residential flats, within residential blocks of 5 or more storeys or 11 metres or more tall. In accordance with the remediation schemes and qualifying lease protections, applicable to England only and those remediation schemes applicable to Wales only as set out by the respective governments. This approach will be updated to reflect remediation arrangements and schemes in Scotland and Northern Ireland once published. -
RICS Valuation – Global Standards 2020 (ARCHIVED)
Published 30 November 2019
Effective from 31 January 2020
This edition of Red Book Global (RICS Valuation – Global Standards) took effect on 31 January 2020.
The accompanying Basis for conclusions explains the rationale behind the more significant changes made in the new edition of Red Book Global Standards.
A new RICS Valuation - Global Standards takes effect from 31 January 2022 in line with the IVS. -
Valuation notification – retail (December 2018)
The valuation notification – retail that went out by RICS email service alert on 10 December 2018.
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RICS Rules of Conduct 2022 – translations
The new Rules of Conduct came into effect on 2 February 2022.
The RICS Rules of Conduct provide a framework within which members and regulated firms offer and deliver their services. They are designed to represent a transparent system of conduct and regulation.
The RICS Rules of Conduct are short and principles based. The rules are mandatory for all RICS members, students and trainees, and all RICS regulated firms.
For further regulatory guidance, see the RICS website. -
Conflicts of interest – global – translations
RICS Rules of Conduct set an overarching obligation on both members and RICS regulated firms at all times to: ‘…act with integrity and avoid conflicts of interest and avoid any actions or situations that are inconsistent with its professional obligations.’
Effective identification and management of conflicts of interest is a challenging but essential component of professionalism.
In March 2017, RICS released this global professional statement giving RICS professionals a number of months to familiarise themselves with the new rules. Following industry feedback, the following additional commentary notes have been added to provide clarification:
*Competing bidders
*Effective date / transition
*Conflicts arising during professional assignments
*Passing confidential information to insurers and legal advisers
This professional statement, which supports the RICS Rules of Conduct, also places an overarching mandatory requirement on all RICS members and regulated firms and specifies RICS’ expectations of how compliance with the Rules of Conduct should be achieved.
This document takes effect from 1 January 2018 and is in 3 parts. Parts 2 and 3 contain guidance, and should be read in conjunction with the mandatory requirements in Part 1.
A professional statement was published in May 2017 to deal with UK-specific issues in the commercial property market, Conflicts of interest: UK commercial property market investment agency, 1st edition, available at http://isurv.com/site/scripts/download_info.aspx?downloadID=2158 -
Countering bribery and corruption, money laundering and terrorist financing - translations
Published February 2019
Effective from 1 September 2019
Reissued October 2022
This global professional standard sets out mandatory requirements for RICS members and RICS-regulated firms in relation to bribery, corruption, money laundering and terrorist financing.
It is divided into three parts:
1. Mandatory requirements for anti-bribery and corruption and for anti-money laundering and terrorist financing.
2. Guidance setting out supporting good practice regarding each of these areas.
3. Supplementary guidance on some key concepts described in parts 1 and 2.
If this document contradicts local legislation then the legislation takes precedence. -
The future of BIM: digital transformation in the UK construction and infrastructure sector
Published July 2020
Reissued April 2023
The industry is now on the verge of the fourth industrial revolution: digitalisation is having a profound impact on the work itself, the way the industry works together, and it will drastically affect surveyors’ abilities to progress innovation and create better places and spaces for future generations. Building information modelling (BIM) and the accompanying use of a common data environment (CDE) form the bedrock of this transformation.
As clients increasingly look to technology for solutions that create efficiencies, RICS professionals need to gain a better-informed understanding of the potential of BIM, how it is evolving, and vitally, how they can take advantage of its development to stay ahead of the curve.
Within this practice information, we look at how BIM has evolved and merged into a much broader paradigm in the UK, and how this might set an example for other markets. As the UK transitioned from national to ISO standards, the focus has shifted from considering adoption and implementation of BIM as the end goal to using BIM and CDE as a catalyst to promote a holistic shift towards a model-driven approach to the design, delivery and operation of constructed assets.
The practice information provides answers about the evolving ‘what’ and ‘why’ of BIM and its potential for surveyors, including:
- the background to BIM
- the need to innovate
- why the development of the definition of BIM needs to be explored and
- the need for surveyors to examine the digital technologies available, and a plan of action for implementing them.
This document was reissued in April 2023 as practice information. It had previously been published in July 2020 as an insight paper. No material changes have been made to the document. -
Existing use value (EUV) valuations for UK public sector financial statements
Published July 2023
Effective from October 2023
This professional standard provides practical advice, guidance, consistency and clarity to RICS members in the UK on the interpretation and application of existing use value (EUV) valuations of owner-occupied operational properties in public sector valuations when used for financial reporting purposes. EUV is the prescribed valuation basis as defined in UK VPGA 6 of the RICS Valuation – Global Standards: UK national supplement.
The content is intended to assist members by explaining and reaffirming the principles of EUV when used in the public sector financial reporting context and to enable a more consistent approach.
While the geographic scope of this standard is the UK, many of the principles are globally applicable and may support RICS members outside the UK.
Please note: The cross references in this standard relate to the updated Red Book UK national supplement, which is due to publish later in 2023. -
The Single Survey Property Inspection Technical Guidance for the completing of Single Surveys
Published 1 December 2008
The purpose of these Inspection and Reporting Requirements is to assist chartered surveyors to produce Single Survey Reports in accordance with the requirements of the Housing (Scotland) Act 2006 and the Housing (Scotland) Act 2006 (Prescribed Document) Regulations 2008. -
Artificial intelligence: what it means for the built environment (ARCHIVED)
Published: 16 October 2017
Archived: 27 September 2023
This paper examines the current thinking, state-of-the-art applications and predictions surrounding AI to uncover many examples of how it will transform the way we work and how we can exploit it to improve the quality of the built environment. -
The design, delivery and management of healthy buildings
Published October 2023
Health and well-being are becoming key considerations in built environment design and management for every property professional and discipline. At the same time, it is becoming increasingly challenging for surveyors and other built environment professionals to navigate healthy choices around building design decisions, certifications, products and operations, with new regulations and voluntary standards emerging that require detailed guidance and expertise.
With well-being also forming an important part of ESG, surveyors, funders and developers are keen to understand, enhance and measure the ways in which their property portfolios can support human health.
This paper is intended as an overview document and ‘one stop shop’ of guidance and key considerations, rather than detailed recommendations and actions for each discipline. -
Discounted cash flow valuations
Published: 9 November 2023
This global practice information addresses the valuation of real estate investment property for greater consideration and, where appropriate, adoption of explicit discounted cash flow (DCF) methods for valuing such property. -
RICS Material Valuation Uncertainty Leaders Forum (UK) (ARCHIVED)
The Material Valuation Uncertainty Leaders Forum (UK) was setup by RICS to consider the unique events relating to the global COVID-19 pandemic and its impact on valuation assignments, with a focus on financial reporting and measures for the accurate and consistent reporting of material uncertainty. It comprises a group of expert valuers covering a wide range of asset classes and specialisms. The terms of reference are attached below.
For more information, see: https://www.isurv.com/info/134/valuation/12438/rics_material_valuation_uncertainty_leaders_forum_uk -
Minimum Energy Efficiency Standards (MEES) Impact on UK property management and valuation
Published March 2018
MEES are a key part of the strategic approach of the UK government to significantly reduce carbon emissions. This insight paper is designed to inform property owners, managers and valuers of the implications of MEES, which came into force on 1 April 2018.
The scope and various exemptions of MEES for non-domestic and domestic properties is also discussed as well as advice for landlords. -
Residential retrofit standard
Published 19 March 2024
Effective from 31 October 2024
RICS’ first residential retrofit standard has been created in response to growing demand for retrofit services. It ensures that consumers carrying out retrofit upgrades to a residential property receive advice from skilled, regulated professionals, and protects the public interest by upholding high standards in a growing market.
This UK professional standard sets out a series of concise mandatory and recommended requirements and is effective from 31 October 2024, establishing benchmarks that guide RICS members in delivering residential retrofit services tailored to their clients' evolving needs.
The implementation of this standard represents an opportunity for RICS residential property surveyors to both upskill and embrace sustainable working practices in response to the growing demand. According to UK government statistics, residential retrofits need to increase to a rate of 500,000 per year by 2025, and one million per year by 2030 to meet the decarbonisation target. Hence, there is a market need for a standard that facilitates reliability and consistency and provides a foundation for professional indemnity.