Service Charge Code, 4th edition – RICS
The consultation period for making comments on the Service Charge Code 4th Edition has passed. The working group made up of representatives from all the leading industry bodies has met to consider all the responses received by the RICS and agree the changes that need to be made with a view to a publication date in April.
One of the things that this firm is keen to see is a declaration that “best practice” for managers is to provide full transparency on all service charge matters to include budget and reconciliation information and access to copy invoices that make up the service charge expenditure.
This can be achieved by providing tenants and occupiers with access to a password protected web portal that holds all of this information.
We know many good landlords that do this already due to the cost saving and environmental footprint benefits they gain from it. It helps build trust and avoid disputes. The question however is will the RICS working group agree ?