On 5th October our Managing Director, Andrew Morley, presented at the RICS Yorkshire and the Humber regional conference. Andrew, having experience in this sector for more than 25 years, gave insight into how Service Charges in the UK commercial sector should be managed to meet the needs of both landlords and tenants.
Commercial service charges have always been a topic of contention. In the absence of legislation, the lease plays the most important role (aided by the Best Practice guidelines set out in the RICS Code of Practice) in determining how service charges are to be managed at a particular location. In his session, Andrew reiterated the need for service charges to be managed in a transparent and efficient way and the advantages to all stakeholders from improved service charge administration. Benefits such as better cost recovery and an unfettered sale for landlords to quality services and value for money for tenants; all these and more were discussed in the session.