Complying with the codes
96% considered that British Land complied with the Service Charge Code, an improvement from 75% in 2007. 96% considered that British Land complied with the Lease Code, an improvement from 71% in 2007.
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"They offer a good, clear level of detail so that anyone picking up the document can relate to it."
- Estates Manager (Sports Retailer)
Continue to provide detailed budget packs and monitor our agents’ ability to deliver service charge information on a timely basis.
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"The overriding message is 'be transparent'. Landlords should be as accurate as they can be regarding building insurance valuations."
- Service Charge Consultant
(Grocery Retailer)Provide detailed insurance statements each June, including property valuations, premium rates, brokerage fees and the cost per m², as well as a comparison to the previous year’s figures.
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"There are inconsistencies. It's good in some places but less so in others."
- Property Director (Fashion Retailer)
Ensure that all managing agents comply with our Service Charge Procurement Policy and target Property Managers Association (PMA) Service Charge Gold Awards for all properties audited.
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"It's our money they are spending and we want an input into how they do this. There should be greater consultation and closer working between us."
- Estates Manager (Sports Retailer)
Hold service charge budget forums with retailers and managing agents.
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"British Land have got nothing to hide and they provide very good information."
- Service Charge Consultant
(Grocery Retailer)Continue to publish service charge performance data. Measure compliance with the Service Charge Code through the RealService industry benchmark.
What we have already achieved Service charge codes
- Property Managers Association (PMA) Service Charge Code Audits: eight Gold Awards and three Silver Awards.
- Provided you with budget packs (containing a three-year forecast), mid-year reviews and forecasts, and annual reconciled statements.
- Monitored whether our agents provided you with service charge information on a timely basis.
- Issued Lease Code and Service Charge Code guidelines to all our agents.
- Joined the Commercial Landlords Accreditation Scheme.
