isurv

Building value from knowledge

  • Code of Measuring Practice

    06 July 2010

    Long established and understood professional responsibilities to clients are matched by statutory obligations to users of property. It is a criminal offence for those involved in estate agency...

  • Instructing on service charges

    16 March 2010

    Surveyors should ensure that preliminary issues are agreed and parties are identified on instruction. In additon to the leases, licences for alteration, side agreements and deeds of variation...

Summary

Professional advisors need to be informed of current practice and legislation relating to the management and administration of service charges in commercial property, in order to ensure they are acting in their clients' best interests and providing adequate advice. This section discusses the basic principles and reviews the contractual basis of the service charge including common lease provisions such as interim payments and sinking funds, the apportionment of the service charge and reporting to tenants, and the certification of actual expenditure. Guidance is provided within the context of current case law and best market practice.

This section is maintained by Peter Forrester of Savills.