000			03031nam a22002777a 4500
008			240918t2024 xxk|||||o|||| 00| 0 eng d
041			_aeng
110			_aRoyal Institution of Chartered Surveyors
245			_aRICS Draft Professional Standard: Service charges in commercial property _ba consultation _h[Electronic resource]
260			_aLondon, _bRoyal Institution of Chartered Surveyors, _c17 September 2024
300			_a107p.
490			_aRICS Consultation
500			_aThe 2nd edition which incorporated feedback from the consultation was published June 2025, effective from 31 December 2025
520			_aThe Royal Institution of Chartered Surveyors (RICS) has announced the launch of a public consultation for its Service Charges in Commercial Property professional standard, set to be released in its second edition. This vital update is aimed at commercial property managers, landlords, occupiers, and industry stakeholders across the UK, and seeks to gather your views to ensure the new edition reflects best practices in the management and administration of service charges, promoting greater fairness, transparency, and uniformity across the sector. The updated standard, due to launch in summer 2025, is designed to address key challenges in the management of service charges, including the timely issue of budgets and year-end certificates, and aims to reduce the causes of disputes between landlords and tenants. In cases where disputes arise, the standard will provide clearer guidance on resolution, fostering a smoother relationship between parties. The second edition of the standard will provide vital guidance for solicitors, their clients (whether owners or occupiers), and property managers. It will also assist in the negotiation, drafting, interpretation, and operation of leases, ensuring that they adhere to industry best practices. By updating this standard, RICS hopes to enhance clarity and transparency in commercial property transactions, helping stakeholders navigate complex service charge issues with greater confidence and less friction. RICS is calling on all those who work in the commercial property sector, including landlords, occupiers and legal professionals, to provide their feedback on the proposed changes. Consultation opened 17 September 2024 closes 29 October 2024.
650			_aCOMMERCIAL PROPERTY
650			_aLANDLORD AND TENANT
650			_aSERVICE CHARGES
650			_aLEASEHOLD PROPERTY
651			_aEngland
690			_aLandlord and tenant _96252
690			_aCommercial property _96227
710			_aRoyal Institution of Chartered Surveyors
856			_uhttps://consultations.rics.org/gf2.ti/f/1581890/220402661.1/PDF/-/Service%20charges%20in%20commercial%20property_clean%20for%20consultation%204th%20Sept%202024.pdf _zView the consultation document on RICS iConsult
856			_uhttps://consultations.rics.org/commercialservicecharges/consultationHome _zView the RICS iConsult homepage on service charges
942			_n0
999			_c121999 _d121999