RICS guide aims to make sure buyers and tenants pay according to accurate home data

A new guide has been launched to help buyers and renters in the UK pay a fair amount for their home, based on the accurate size of the property.

The Royal Institution of Chartered Surveyors (RICS) has launched the guide to help ensure homes are measured consistently, whether for sale or letting so that buyers and tenants can have access to information showing that the price is not based on inaccurate floorplans.

It also highlights the importance of consumers checking with their sales or letting agent that the person measuring their property is qualified to do so.

‘The size of a home, whether buying or renting, can often make the difference in what a buyer or renter will pay for that property. Yet many companies measure the size of property differently and can notch up square footage by an extra 10%, which can result in them hiking the asking price or rent up,’ said TV personality and property expert Phil Spencer .

‘It’s vitally important that every room in a property is measured accurately so that buyers and renters pay a fair price, and the RICS Measurement Matters guide offers just that, a consistent and transparent way of measuring and producing accurate floorplans using RICS’ mandatory Property Measurement Standard,’ he pointed out.

‘In turn, this will create a fairer, more robust market place, and give buyers and renters the peace of mind that they are not paying for something they aren’t getting,’ he added.

The guide says a residential property’s floor plan must include accurate wall to wall, window to window measurements of internal rooms such as the kitchen, dining room/lounge and all bedrooms.

However, external areas such as decking, detached garages, outbuildings, as well as any uninhabitable basements or lofts should not be included in the overall measurement of a property, as this will result in a misunderstanding of floorplans that show a home to be larger than it really is.

‘Residential property has been measured inconsistently in the UK for far too long, and there are significant variances in measurement depending on the standard adopted and the measured areas included,’ said Alexander Aronsohn, RICS director of technical standards.

‘Our Property Measurement Standard, and new supporting guide aim to ensure anyone who purchases or rents a home, is doing so based on accurate information about the property. This is particularly important for buyers and renters looking for a home in urban areas where space is already limited, and at a premium,’ he explained

‘Above all, our guide will help to drive down the level of inconsistent and inaccurate measurement practices, which will have a hugely positive impact on the market place,’ he concluded.