Commercial Service charge consultancy Property Solutions has published its latest Service Charge Operating Report (SCOR) for Retail, presenting a benchmarking exercise on service charge costs and compliance with best practice in service charge management in UK shopping centres.
The 2014 findings, which also look at the impact of the Government’s energy targets, show that a huge proportion of shopping centres and retail properties are not on track to hit required energy efficiency levels by the 2018 deadline.
The report also highlights nine areas of compliance that landlords and agents should work towards for best practice in the management of service charges. This year’s report shows a drop in compliance of six of the nine compliance categories. Of the three categories that showed improvement when compared with previous years, the most encouraging increase was in the disclosure of accounting principles with 43% of buildings compliant compared with 22% last year.
To download the full report visit: www.property-solutions.co.uk/research-and-benchmarking/benchmarking/
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