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RICS consults on service charge code

RICS is consulting with its members to produce an update to its code of practice on service charges in commercial property.

The previous edition of the RICS Service Charge Code of Practice was issued in 2006.
Developed by a cross-industry steering group of all the leading property bodies, the code is a response to ongoing concerns about disputes over service charges and their alleged lack of transparency.

The 2006 code sets out industry best practice for service charges with the objectives of removing service charges as an area of conflict, encouraging transparency and communications between owners, occupiers and managing agents, and delivering a clear budget to occupiers that can be forecasted for future costing. RICS is consulting with members in order to identify areas of improvement and to find ways to enhance best practice in this complex and emotive area.

The consultation closed on 21 January 2011 and the results will be published by 1 May.

For more information go to www.rics.org

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