Service Charge Operating Report (SCOR) for Offices 2017
Wording of lease terms plays a pivotal role in ensuring efficient management and reporting of service charge accounts.
The median service charge this year for London is £9.82 per sq. ft. and for the Rest of the UK is £6.24 per sq. ft.
Property Solutions (UK) Ltd (PSL) is pleased to announce the publication of SCOR for Offices 2017.
This year’s edition features:
– “The Commercial Lease Research Project” teaser
– Service charge cost benchmarking of 209 certificates/budgets -total cost £173 million
– Longitudinal cost analysis of Service Charge trends over the last 4 years
– Compliance analysis of 100 service charge certificates investigating selected transparency requirements of the RICS Code: Service Charges in Commercial Property
-Best practice disclosure for explaining the variance between actual and budgeted service charge costs
Recommendations based upon this year’s analysis:
1) Occupiers should be aware of the service charge provisions within their lease
2) Landlords should oversee the transparent and efficient management of service charge accounts
You can download the Report from our website by clicking on this link:
Should you have any queries or if you would like to discuss the findings in more detail, please do not hesitate to contact us.
Property Solutions (UK) Ltd
T: 01454 332211