The Royal Institution of Chartered Surveyors (RICS) has announced a new edition of Service Charges in Commercial Property, due to take effect from 1 April 2019.

The aims and objectives of this professional statement are to:

  • Improve general standards and promote best practice, uniformity, fairness and transparency in the management and administration of services charges in commercial property
  • Ensure timely issue of budgets and year-end certificates
  • Reduce the causes of disputes and to provide guidance on resolution, and
  • Provide guidance to solicitors, their clients (whether owners or occupiers) and managers of service charges in the negotiation, drafting, interpretation and operation of leases, in accordance with best practice.

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