RICS Code of Practice for Service Charges in Commercial Property (England and Wales)
This new release (An official RICS Guidance Note) has the endorsement of leading property bodies:
- British Property Federation (BPF)
- British Retail Consortium (BRC)
- Property Managers Association (PMA)
- British Council of Shopping Centres (BCSC)
- British Council for Offices (BCO)
The code for surveyors practising in England and Wales sets out best practice for commercial service charges with the objectives of:
- Removing service charges as an area of conflict
- Delivering a budgetable and forecastable part of occupiers' overheads
- Ensuring service charges that are "not for profit, not for loss"
- Encouraging transparency and communication