Service Charge Summit 2018: The Service Charge Code Bites Back
On 17th January Nigel White, Associate Director and Olisa Pal, Research Coordinator, attended a whole day seminar entitled “The Service Charge Code Bites Back” at Squire Patton Boggs, London. The summit was informative with prominent speakers presenting who have been directly involved in developing and defining industry best standards in the management of service charges: Peter Forrester, Chairman of RICS Service Charge Working Group; Helen Hoath, Director at Squire Patton Boggs; Avis Sayer, Owner of Service Charge Analytics; and Jeff Plat, Managing Director of Section20 Ltd.
Pending the release of the 4th edition of the Code, this summit helped participants to discover what changes they should be expecting once the RICS publishes the Code as a Professional Statement. The event covered some of the most compelling internal and external factors influencing service charge costs. Questions on transparency and whether the new Code will be able to transform relationships between landlords and tenants were all dealt with in this seminar. Interesting points were made on best practice requirements which will now become mandatory for the RICS qualified professionals and regulated firms. Several legal cases were also discussed to provide guidance on resolving disputes if they arise.
It was pleasing to have our own research – SCOR for Offices 2017 – referred at one point in connection with compliance to the existing Code. Should you wish to download this research visit http://ow.ly/wziB30hZphK