Further Information
Property
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Policies & Issues: Property
SERVICE CHARGES
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Service Charges are the subject of ongoing discussions between landlords and occupiers. Since the beginning of the economic downturn, it has been increasingly pressing to improve the transparency in this area and ensure that the management of service charges is delivering value for money.
The BRC has been involved in a number of initiatives that look to introduce best practice around the management of service charges, including:
1. THE SERVICE CODE OF PRACTICE
The Code advocates transparency between landlords and occupiers and sets out best practice in management across this area. The BRC is part of the steering group currently reviewing the Code, concentrating on a number of new issues, specifically environmental matters. It is currently anticipated an updated version of the Code will be published at the end of 2010.
2. THE 10-POINT PLAN
The economic recession pushed occupiers to address service charge management more directly, putting the need for transparency and value for money on the agenda. The result was a 10-point plan of basic service charge management measures. The plan has been adopted and implemented by a number of landlords, achieving savings of up to 15% on some shopping centres' service charge bills within the UK. The plan needs to be more widely adopted.
3. PROPERTY MANAGEMENT CHECKLIST
The Property Policy Action Group has developed a Property Management Checklist. The checklist provides members with guidance they can apply to improve the efficiency and value for money of their property management. It focuses predominantly on service charges but also looks at monthly rents and environmental concerns.
The Checklist will be made available to members in May 2010.
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