Service Charges in Commercial Property
The Code
With poorly managed service charges remaining a frequent cause of dispute between owners and occupiers, the new RICS Service Charge Code of Practice has been developed with leading property bodies to improve standards and promote consistency, fairness, transparency and best practice in the management and administration of service charges in commercial property.
Providing guidance and setting out clear best practice principles to solicitors, their clients and managers of service charges, the new Code is an essential tool for an industry looking to improve the quality of service to its customers.
Download the relevant code* (PDF file):
- Service charges in commercial property - UK (2011)
- Service charges in commercial property - Ireland (2009)
Information papers
RICS has developed a series of information papers to support the Code.
- RICS Information paper Commercial property service charge handover procedures (2011)
- RICS Information paper Service charges and tenant alterations (2009)
- RICS Information paper Sinking funds, reserve funds and depreciation charges (2009)
- RICS Information paper Apportionment of service charges in mixed use developments (2009)
Occupier Guide
RICS has produced this guide for occupiers to raise awareness of the Code and to help give a flavour of what to expect when discussing service charges. It stresses the need to seek professional advice when taking on a new or revising an existing lease.
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