On Tuesday 27 February our Associate Director Nigel White spoke at the RICS Industrial Warehousing and Logistics Conference at the RICS on Parliament Square.
It was a pleasure for Nigel to accept the invitation from the RICS to speak on the given topic “RICS Service Charge Code Professional Statement update”. Although service charges are never particularly high on Industrial occupiers’ agendas, we predict that, with the advent of the Code as a Professional Statement, they may move up those agendas!
The history of the Code’s evolution was set out and some of the common issues listed which cause angst amongst occupiers, managing agents and landlords. The lack of compliance with successive editions of the Code was evidenced by PSL’s own SCOR research and it was this lack of take up of the Code’s best practice guidelines across the industry that was in part the catalyst for the new Code becoming a Professional Statement. Details of the new Professional Statement’s contents were looked at as they appeared in the consultation document that was circulated to all RICS professionals before the New Year.
It was evident from questions following the talk that occupiers were frustrated by issues with the timeliness of service charge documents especially budgets for incoming occupiers.