Service charges in commercial property (Record no. 122181)

MARC details
000 -LEADER
fixed length control field 04436cad a2200373aa 4500
005 - DATE AND TIME OF LATEST TRANSACTION
control field 20260206112304.0
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 250625t2025 xxk 000 0 eng u
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
International Standard Book Number 9781783215447
035 ## - SYSTEM CONTROL NUMBER
System control number (Sirsi) u160167
041 0# - LANGUAGE CODE
Language code of text/sound track or separate title eng
110 2# - MAIN ENTRY--CORPORATE NAME
Corporate name or jurisdiction name as entry element Royal Institution of Chartered Surveyors
9 (RLIN) 4900
245 00 - TITLE STATEMENT
Title Service charges in commercial property
Remainder of title RICS Professional Standard, UK
Medium [electronic resource]
250 ## - EDITION STATEMENT
Edition statement 2nd ed
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Place of publication, distribution, etc. London,
Name of publisher, distributor, etc. RICS,
Date of publication, distribution, etc. 2025
490 #0 - SERIES STATEMENT
Series statement RICS Professional Standard
520 ## - SUMMARY, ETC.
Summary, etc. Supersedes 1st edition ISBN 9781783213221, effective from 31 December 2025.
520 ## - SUMMARY, ETC.
Summary, etc. RICS and ICAEW have agreed a statement over the effective date of the Service charges in commercial property, 2nd edition, launched in June 2025. Following its release, the RICS issued clarification over the effective date as follows:<br/><br/>“On 8 October 2025, this professional standard was reissued to address an error at page 5, subsection 1.6. The original wording ‘This professional standard is effective for all service charge periods commencing from 31 December 2025’ has been amended to ‘This professional standard is effective from 31 December 2025.”<br/><br/>The RICS and ICAEW have agreed a transition for the application of the revised RICS Professional Standard and Technical Release 09/14 Accountants’ Reports on Commercial Property Statements of Service Charge Expenditure (TECH 09/14 BL). The application of both the Professional Standard and Tech 09/14, may have regard to the version that was in place at the commencement of the service charge period under review. Whilst the RICS supports early adoption of the RICS Professional Standard, it appreciates that some of these new provisions cannot be retrospectively implemented for service charge years that commenced prior to 31 December 2025. For clarity the RICS expects the provisions to be fully in place and adopted in service charges with 31 December 2026 year ends and beyond.
520 ## - SUMMARY, ETC.
Summary, etc. This professional standard aims to help ensure that budgets and year-end certificates are issued in a timely manner and encourages a reduction in the causes of disputes (and where there are disputes, provide guidance on resolution). It provides 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. This professional standard also sets mandatory requirements for RICS members and RICS-regulated firms, which will encourage service charges to be managed with greater consistency and due diligence
520 ## - SUMMARY, ETC.
Summary, etc. Also available are templates: <br/>Template 1 is for the agreement to retain monies included in a budget and already collected but where work has been deferred until a subsequent service charge period.<br/><br/>Template 2 is for the agreement to forward fund the cost of future works.<br/><br/>Template 3 is for the agreement to defer the recovery of costs incurred by the landlord over future periods, known as a payment plan.
520 ## - SUMMARY, ETC.
Summary, etc. Effective from 31 December 2025
650 24 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element SERVICE CHARGES
651 #4 - SUBJECT ADDED ENTRY--GEOGRAPHIC NAME
Geographic name United Kingdom
690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN)
Topical term or geographic name as entry element Commercial property
9 (RLIN) 6227
690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN)
Topical term or geographic name as entry element Property management
9 (RLIN) 6262
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name Forrester, Peter
710 ## - ADDED ENTRY--CORPORATE NAME
Corporate name or jurisdiction name as entry element Royal Institution of Chartered Surveyors
9 (RLIN) 4900
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://www.rics.org/profession-standards/rics-standards-and-guidance/sector-standards/real-estate-standards/service-charges-in-commercial-property">https://www.rics.org/profession-standards/rics-standards-and-guidance/sector-standards/real-estate-standards/service-charges-in-commercial-property</a>
Public note Overview page
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://www.rics.org/content/dam/ricsglobal/documents/standards/Service-charges-in-CP_2nd-ed_amended-Oct-2025.pdf">https://www.rics.org/content/dam/ricsglobal/documents/standards/Service-charges-in-CP_2nd-ed_amended-Oct-2025.pdf</a>
Public note Updated (October 2025) Professional Standard on RICS.org
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://www.rics.org/content/dam/ricsglobal/documents/standards/Service-Charges-in-Commercial-Property-2nd-edition.pdf">https://www.rics.org/content/dam/ricsglobal/documents/standards/Service-Charges-in-Commercial-Property-2nd-edition.pdf</a>
Public note Original (now out of date) Professional Standard on RICS.org
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://www.rics.org/content/dam/ricsglobal/documents/standards/Voluntary-agreement-template-1.pdf">https://www.rics.org/content/dam/ricsglobal/documents/standards/Voluntary-agreement-template-1.pdf</a>
Public note Template 1: Agreement to retain monies
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://www.rics.org/content/dam/ricsglobal/documents/standards/Voluntary-agreement-template-2.pdf">https://www.rics.org/content/dam/ricsglobal/documents/standards/Voluntary-agreement-template-2.pdf</a>
Public note Template 2: Agreement to forward fund the cost of future works
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://www.rics.org/content/dam/ricsglobal/documents/standards/Voluntary-agreement-template-3.pdf">https://www.rics.org/content/dam/ricsglobal/documents/standards/Voluntary-agreement-template-3.pdf</a>
Public note Template 3: Agreement to defer the recovery of costs
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Suppress in OPAC 0
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