The Reality of Service Charges

22.07.08

The 2007 Loughborough Service Charge Study Update was released in April 2008.

The latest update of the Loughborough Report, called “The Reality of Service Charges 1998-2007”, shows that service charge costs have risen again, that variability has worsened and that there has been little measurable improvement in compliance with the RICS Code of Practice on Service Charges in Commercial Property which came into force in April 2007.

This update contains new discussion on a comparison between JLL’s Office OSCAR and Loughborough’s service charge studies and secondly an analysis of the impact of VAT on landlords and tenants which is particularly important to tenants in the financial service sector who make up a large proportion of the users of multi-let offices in the UK.