chester

Chester 01244 405 555

Grosvenor Court
Foregate Street Chester
Cheshire CH1 1HG
DX: 19990 Chester

shrewsbury

Shrewsbury 01743 443043

Lakeside House
Oxon Business Park
Shrewsbury SY3 5HJ
DX: 148563 Shrewsbury 14

Slide e

Airport City, Manchester 0161 537 3324

Offices 204 and 205
Manchester Business Park
3000 Aviator Way
Manchester M22 5TG

20th March, 2014

Service Charges for Commercial Property


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].



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