RICS Professional Statement on Service Charges - The Tensions Explored
Whilst the RICS Service Charge Code has been an influence for the good in the administration of service charges since 2006, RICS felt that more could be achieved leading to the new RICS Professional Statement, Service Charges in Commercial Property.
The Professional Statement has upped the ante placing compliance in the context of professional conduct. This guidance has an important part to play in promoting best practice and reducing the incidence of disputes, but ultimately it is the terms of the lease which are king, and forms of words which are in common use can be problematic.
This webinar will explore the tension between the recommendations of the Professional Statement and some features of service charge management encountered in practice.
What You Will Learn
This webinar will cover the following:
- Methods of apportioning of service charge contributions between tenants
- ‘Proper’ and ‘reasonable’ expenditure
- Charging for improvements
- Procedural requirements
- The role and limitations of ‘sweeper’ clauses
- Environmental and regulatory impacts
- End-of-lease major expenditure