RICS Service charges in commercial property 1st edition

RICS Service charges in commercial property 1st edition RICS Service charges in commercial property 1st edition supersedes all three previous editions which were published as codes of practice. This new document has the status of an RICS Professional Statement. RICS members and firms regulated by the RICS must comply with professional statements in order to remain professionally [...]

Service Charge Disputes – can you afford to ignore them?

Service charge disputes – can you afford to ignore them? An unresolved dispute, no matter how minor, has the potential to seriously affect the operation and reputation of a Landlord. It may delay or affect the ability to sell the property, as it cannot be truly “ready for sale” if service charge disputes exist, or historic [...]

Office Service Charge New RICS Code 2018

Office Service Charge - Commercial Property In light of the new RICS code here are just 5 things that landlords and managing agents of offices need to ensure: 1) A service charge apportionment matrix is provided. 2) Budgets and reconciliations with appropriate explanatory notes are provided annually. 3) All expenditure sought to be recovered via [...]

Service charges in commercial property 1st edition, September 2018

Service charges in commercial property 1st edition, September 2018 The 4th version of the "RICS Service charge code" released on 17th September 2018 is called Service charges in commercial property 1st edition, September 2018 .  This is the first time it has the status of an RICS Professional Statement. RICS members and firms regulated by the RICS must [...]

Service Charge Code – How to check the percentage

 Service Charge Code - How to check the percentage New 1st Edition Service Charge Code (external link here) 10 things a business occupier can do to check whether their service charge percentage is correct. Check: All lettable areas are included in the apportionment matrix. Income generating activities contribute a fair share. Floor areas are correct. The basis [...]

By | July 6th, 2018|Service Charges|0 Comments

Commercial Service Charges – Mistakes – London Restaurants

Commercial Service Charges - London Restaurants. This firm gets a lot of business in London from cafe and restaurant clients occupying multi tenanted buildings that feel that there are being overcharged on their retail shop for commercial service charges. Frequently they are correct..but why? The most common mistake in my experience is that Landlords haven't split [...]

By | March 11th, 2018|business lease, Disputes, Service Charges|0 Comments

Commercial Property Service Charges – New MScorecard

Commercial Property Service Charges - MScorecard We have developed the "MScorecard"  for ranking and scoring commercial property service charges operated at major shopping centres across the UK. The idea came about when working on a portfolio of stores for one of my retail clients. It ranks centres with each applicable property getting a score out of [...]

Service Charge Code – 4th edition – RICS

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 [...]

Start up Business – Office Lease

Start up business taking an office lease. This firm recently advised a small start up business, a tech company, located in cool tenant friendly incubator serviced offices. We were instructed following advice of their law firm who suggested we assist them as they were thinking about moving out of their serviced offices and taking a new lease [...]

New 4th Edition – RICS Code – Service Charges in Commercial Property

 Service Charges in Commercial Property - 2018 The current document which has the status of a Guidance Note was released by the RICS on the 4th February 2014. A new updated version is, I am reliably informed, in the pipeline. This firm looks forward to seeing the consultation document for the  Service Charges in Commercial [...]

By | December 19th, 2017|business lease, Service Charges|0 Comments

Service Charge Review – Expert Certificate

This firm is now able to offer an Expert Service Charge Review to Landlords and Managing agents. Below are some frequently asked questions and answers: Q. We have our service charge audited by an accountant do I need this Expert Certificate as well? A. An accountants audit doesn’t look at all of the aspects [...]

By | December 10th, 2017|Service Charges|0 Comments

Commercial Service Charge Accounts – Business Tenants – Should you pay?

Business tenants and commercial service charge accounts The most frequent question I am asked by new clients when I first take on a service charge instruction is “Should I pay this invoice or withhold payment of it?” Business tenants are often faced with this dilemma for the first time when the commercial service charge on [...]

By | September 21st, 2017|business lease, Disputes, Financial, Service Charges|0 Comments

Property Arbitration – Can it resolve my dispute?

What is Property Arbitration? Property Arbitration is a non-judicial process for resolving property disputes. The arbitrator is an independent third party often chosen for their expertise. The arbitrators role is similar to that of a judge. The arbitrator makes a makes a decision that is final and legally binding. Arbitration is favoured by many because it [...]

By | June 27th, 2017|Disputes, Service Charges|0 Comments