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Service charges in commercial property RICS code of practice, Scottish edition [old edition]

By: Contributor(s): Language: English Series: RICS Code of Practice | RICS Guidance NotePublication details: London RICS 2007ISBN:
  • 9781842193440
Subject(s): LOC classification:
  • 346.4104342 $2 18
Online resources:
Partial contents:
Terminology used in the code -- Introduction -- The code -- Technical support -- Appendices
Summary: Written in light of UK government concerns about disputes over service charges and their alleged lack of transparency. In addition to setting out best practice for commercial service charges, the objectives of this new code are to: remove service charges as an area of conflict; deliver a budgetable and forecastable part of occupiers' overheads; ensure service charges that are "not for profit, not for loss" and that are cash neutral to the owner's income stream; encourage transparency and communication in the relationship between landlords and tenants. This Code will come into effect in Scotland on 11 September 2007 and will apply to service charges commencing on 1 April 2008 or any date thereafter.
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Terminology used in the code -- Introduction -- The code -- Technical support -- Appendices

Written in light of UK government concerns about disputes over service charges and their alleged lack of transparency. In addition to setting out best practice for commercial service charges, the objectives of this new code are to: remove service charges as an area of conflict; deliver a budgetable and forecastable part of occupiers' overheads; ensure service charges that are "not for profit, not for loss" and that are cash neutral to the owner's income stream; encourage transparency and communication in the relationship between landlords and tenants. This Code will come into effect in Scotland on 11 September 2007 and will apply to service charges commencing on 1 April 2008 or any date thereafter.