Service charge management
Enhancing transparency and communication in service charge management
In 2006 we reviewed our service charge management and introduced a number of changes to ensure that we exceed the standards set out in the new Service Charge Code, which took effect from 1st April 2007.
The Service Charge Code
The RICS Code of Practice for Service Charges in Commercial Property was launched in April 2007. This Code represents best practice in service charges and British Land is appropriately implementing it in all new leases.
Service charge communications
All occupiers now receive service charge communications at least three times a year, including the previous year’s reconciled final expenditure statement, a mid-year expenditure forecast to the current year end and the following year’s budget.
The British Land
Budget Pack
We have established a standard budget pack for all properties, which includes an indication of service charge costs for the coming three years, standardised line item cost categories and statements of policy.