Service Charges for Commercial Property
20th March, 2014
The RICS Code of Practice for the operation of service charges in commercial property has recently been updated in a Third Edition. The Code is of importance to managing agents as it could be material in relation to performance of their duties. Leases may be drafted on the basis that service charges comply with the Code.
The changes in the Third Edition relate to:-
• Allowing a wider range of costs to be included in a service charge account and still be Code compliant;
• Generally the Code is less prescriptive in the way it is drafted;
• The parties are encouraged to consider carefully how changes as a result of tenants alterations will affect service charge arrangements;
• Some principles are suggested if the Carbon Reduction Commitment Energy Efficiency Scheme applies.
For more information on this please contact Emma McGlinchey on 01244 405567 or email [email protected].
You might also be interested in...
22nd May, 2018
With the General Data Protection Regulation (GDPR) coming into force in May, businesses across Shropshire have been flocking to hear more about the new laws Paul Bennett, a partner at law firm Aaron & Partners LLP, has been delivering seminars in partnership with the Shropshire Chamber of Commerce An employment solicitor from Shrewsbury is urging businesses across the... Read More »
15th May, 2018
Experienced HR leader joins Aaron & Partners LLP Law firm with offices in Chester and Shrewsbury appoints Kate Robertson to drive HR strategy for more than 120 staff and to support the company’s growth Chester law firm Aaron & Partners LLP has strengthened its senior leadership team with the appointment of an experienced human resources manager. Kate Robertson... Read More »
24th April, 2018
Jan Chillery, Insolvency Partner at Aaron & Partners LLP, shares her experience and the reasons why we should be cautious before paying so-called “bailiffs” over the phone or online without vetting them first. My neighbour has told me that recently he had a CCJ (County Court Judgment) against him. A day or so later, he received a phone call... Read More »