Service charges in commercial property
A service charge may not mean that all the costs incurred by the landlord in providing a service are recoverable. Seek specialist advice to identify costs that might fall outside the service charge provisions when valuing the property.
Professional advisers need to be informed of current practice and legislation relating to the management and administration of service charges in commercial property to ensure they are acting in their clients' best interests and providing adequate advice.
Rent review specialists should also seek advice as an onerous service charge liability and any ongoing disputes may have a negative impact on rental value.
This section is maintained by Peter Forrester of Peter Forrester SCCS Ltd.