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The second edition of the Royal Institution of Chartered Surveyors (RICS) service charges in commercial property document, is mandatory for RICS-accredited professionals and represents a minimum level of expected compliance.
The new edition updates the one published in 2018 and incorporates several improvements. These changes improve general standards and promote best practice, uniformity, fairness and transparency in the management and administration of services charges in commercial property.
The standard also helps ensure timely issue of budgets and year-end certificates, reduces the causes of disputes and to provide guidance on resolution and provides guidance to solicitors, their clients (whether owners or occupiers) and managers of service charges in the negotiation, drafting, interpretation and operation of leases, in accordance with best practice.
Development of the standard was overseen by an expert group of industry professionals. This includes representatives from several organisations including BDO, The British Council for Offices (BCO), The British Property Federation (BPF), The British Retail Consortium (BRC), The Law Society, The Property Managers Association (PMA), ICAEW and UK Hospitality. First Edition author Peter Forrester FRICS was commissioned to write this update with Jonathan Lovejoy MRICS as co-author.
RICS Head of Professional Practice, Paul Bagust, said: “The first edition of the commercial property charges standard was extremely popular, and its principles are deeply embedded within industry.
“This new edition of the standard incorporates crucial updates that take into account the changes to the sector over the past seven years. The increased breadth and depth of this standard will mitigate disputes and accelerate dispute processes towards conclusion, improving transparency, trust and confidence in all matters related to commercial service charges. The standard is essential reading for anyone working in or around commercial property.”
The new edition of the standard was published on 25 June 2025 and becomes effective on 31 December 2025.
A full version of the standard can be found here.
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