Property Surveyors

What They Can Help You With

You should use the services of a qualified property surveyor when acquiring a lease or purchasing a freehold property. They can help you by:

• Inspecting premises and providing you with a property survey.
• Preparing freehold and lease valuations.
• Assessing rents and dealing with any disputes.
• Undertaking rating valuations and appeals.

 

Chartered surveyors are qualified professionals and their regulatory body is the Royal Institute of Chartered Surveyors (RICS). You can find their website at: www.rics.org

Choosing A Property Surveyor

Choose a chartered surveyor who has experience in the licensed trade. In the case of obtaining a property survey or valuation, check that your surveyor will prepare the report promptly as any hold-ups may cause difficulties. Ask them to provide approximate costs for any repair works that they feel are necessary.

Other Factors To Consider

Fees vary, so it is wise to obtain quotes from several surveyors prior to appointing one. You can find contact details for chartered surveyors in your area on the Royal Institute of Chartered Surveyors website.

Licensed Trade Valuers

What They Can Help You With

As the name suggests, licensed trade valuers specialise in the licensed trade. Their main services are:

• the valuation of leased and freehold properties;
• valuation of trade fixtures and fittings.

 

They may also provide other services like stocktaking, rent assessments, rating advice and arranging insurance cover.

Some are members of the Royal Institute of Chartered Surveyors. Others are members of various associations of licensed trade valuers, such as the Association of Valuers of Licensed Property. More information and member details can be found on their website: www.avlp.com

Valuation Of Fixtures And Fittings

In the case of taking a tenancy or new lease, the trade fixtures and fittings will be valued on the day of ingoing by a licensed trade valuer. Both the seller (outgoing licensee) and the buyer (ingoing licensee) of fixtures and fittings are advised to have a valuer to act on their behalf. The brewery or pub company may insist that you use a valuer that they recognise. In the past the buyer and seller would each appoint a separate valuer. However, it is now common practice in many areas to use a single valuer, thereby enabling fees to be shared. Licensed trade valuers can also provide you with valuations of leases and freehold properties for both buyers and sellers.

Choosing A Valuer

The brewery or pub company can normally provide details of recommended valuers. The outgoing tenant is likely to have details of who carried out the last valuation of fixtures and fittings, when they took on the pub.

Other Factors To Consider

Fixtures and fittings valuation fees are based on a percentage of the fixtures and fittings value. Fees vary between valuers. As in the case of other professionals, shopping around will get you the best rates.

Licensed Trade Stocktakers

What They Can Help You With

Stocktakers provide an essential service to the licensed trade. Their role is to value the stock you have in hand, calculate how much you have used, check your stock usage against your records, and calculate gross profit margins. They can spot stock losses including theft and wastage, and suggest how you can resolve these problems. They can assist you with pricing your products as well. You are advised to use them for the following:

• Valuing your stock on ingoing day.
• Providing you with a monthly stocktaking service and report.

Choosing A Stocktaker

The brewery, pub company or other licensees are likely to be able to recommend good stocktakers in your area. The Institute of Licensed Trade Auditors is a body that represents stocktakers in the UK and Republic of Ireland. It has over 400 members and provides training for new stock-takers. Members use the letters FILSA or MILSA after their names to signify that they are qualified members of the Institute. Their website: www.iltsa.co.uk provides more information and lists of stocktakers by region.

Other Factors To Consider

Most stocktakers these days use laptop or handheld computers to help them take stock and provide a stock report for their clients. It is very useful to have a report prepared on the same day that the stocktaker is on site, rather than it be sent to you later. A good stocktaker will discuss the report with you and make recommendations. The reports can be quite complex and it is worth taking time to ask your stocktaker to explain them to you.

Choosing a stocktaker that operates in your geographical area is beneficial. Not only will contact be easier, but they will also know the local market, which is useful when considering what prices to charge and which products sell well in the area.

Licensed Trade Organisations

Licensed trade organisations provide advice, information, training and support to their members. Two well-respected organisations that you should consider joining are:

• The British Institute if Innkeeping (BII) – see www.bii.org
• The Federation of Licensed Victuallers Associations (FLVA) – see www.flva.co.uk