Document downloads - Lease renewal
Available downloads
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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. -
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This document has been archived and is available on isurv for information purposes only.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 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. -
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This document has been archived and is available on isurv for information purposes only.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. -
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. -
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. -
DRS2P: Lease renewal disputes (PACT)
Application to the President of RICS for the appointment of an arbitrator or independent expert for a lease renewal dispute.
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The New Lease Accounting Rules (RICS)
Published February 2011
The International Accounting Standards Board (IASB) has issued proposals on how leases are to be accounted for by listed companies and others that report under International Financial Reporting Standards. If the new model is adopted, as seems likely, it will remove the distinction between operating and financial leases. This means that most corporate occupiers will have to record their lease obligations on the balance sheet which will have a significant impact on their reported financial position.
The industry consultation period ended on 15 December 2010 and there is a widely held view that the proposed standard will be adopted, although the IASB could still make some final changes. It is reasonable to assume that the standard would apply from 2014 if not before. When changes are made to accounting standards companies are required to provide restated balance sheets for the previous 2 years, meaning than the lease assets and liabilities may need to be calculated by 2012.
This is clearly something which is going to have a major impact on companies that lease commercial property and their advisers.
These changes do not just affect those chartered surveyors advising corporates on a day to day basis, but also investment and leasing agents. -
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. -
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. -
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.