Service charges are one of the main sources of conflict between landlords and tenants.
Service charges represent a significant real cost, in many cases running at well in excess of £10 per sq ft. For occupiers, property is not the main focus of their business; their concern is to reduce total occupational costs, whether the savings come from rent, insurance, rates or the service charge.
For landlords, service charge cost consultancy can improve occupier satisfaction and so reduce the risk profile of your property portfolio.
We offer service charge reviews to occupational clients to ensure that their service charge is cost competitive and consistent with their lease covenants.
Our service charge cost consultancy service includes:
- Lease audit to establish the legal extent of client’s liability
- Profile of client’s interest until lease expiry
- Comparison of service charge against industry and geographic benchmarks
- Assessment of whether best value has been obtained for the procured services
We typically achieve significant savings and charge on a cost saved fee basis, so there is no risk to you.
Our commitment to transparency
Our service is grounded by our commitment to working in accordance with the RICS Code of Service Charge Practice and to improving transparency.
We are a founder member of the IPD service charge benchmarking service which provides much-needed transparency for service charges. The initiative aims to build on the success of the RICS service charge code, and has received strong backing from the industry as a whole. It is endorsed by the British Council of Shopping Centres, the British Council for Offices, the British Retail Consortium, CoreNet Global UK, the Property Managers Association and the Royal Institute of Chartered Surveyors.