000 04436cad a2200373aa 4500
005 20260206112304.0
008 250625t2025 xxk 000 0 eng u
020 _a9781783215447
035 _a(Sirsi) u160167
041 0 _aeng
110 2 _aRoyal Institution of Chartered Surveyors
_94900
245 0 0 _aService charges in commercial property
_bRICS Professional Standard, UK
_h[electronic resource]
250 _a2nd ed
260 _aLondon,
_bRICS,
_c2025
490 0 _aRICS Professional Standard
520 _aSupersedes 1st edition ISBN 9781783213221, effective from 31 December 2025.
520 _aRICS 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: “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.” 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 _aThis 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 _aAlso available are templates: 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. Template 2 is for the agreement to forward fund the cost of future works. 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 _aEffective from 31 December 2025
650 2 4 _aSERVICE CHARGES
651 4 _aUnited Kingdom
690 _aCommercial property
_96227
690 _aProperty management
_96262
700 _aForrester, Peter
710 _aRoyal Institution of Chartered Surveyors
_94900
856 4 0 _uhttps://www.rics.org/profession-standards/rics-standards-and-guidance/sector-standards/real-estate-standards/service-charges-in-commercial-property
_zOverview page
856 4 0 _uhttps://www.rics.org/content/dam/ricsglobal/documents/standards/Service-charges-in-CP_2nd-ed_amended-Oct-2025.pdf
_zUpdated (October 2025) Professional Standard on RICS.org
856 4 0 _uhttps://www.rics.org/content/dam/ricsglobal/documents/standards/Service-Charges-in-Commercial-Property-2nd-edition.pdf
_zOriginal (now out of date) Professional Standard on RICS.org
856 4 0 _uhttps://www.rics.org/content/dam/ricsglobal/documents/standards/Voluntary-agreement-template-1.pdf
_zTemplate 1: Agreement to retain monies
856 4 0 _uhttps://www.rics.org/content/dam/ricsglobal/documents/standards/Voluntary-agreement-template-2.pdf
_zTemplate 2: Agreement to forward fund the cost of future works
856 4 0 _uhttps://www.rics.org/content/dam/ricsglobal/documents/standards/Voluntary-agreement-template-3.pdf
_zTemplate 3: Agreement to defer the recovery of costs
942 _n0
_2ddc
999 _c122181
_d122181