RICS Service Charge Residential Management Code, 3rd Edition

As all of you Residential Property Managers and Landlords will be aware, as of course will some lessees and/or occupiers of residential leasehold properties, the above came into effect on the 1 June 2016. Effective management is key to successful management and the Code has been prepared and up-dated to promote desirable practices in the industry.

The Code aims are to:

• “Improve general standards and promote best practice, uniformity, reasonableness and transparency in the management of long leasehold residential property
• Ensure the timely issue of all documentation including budgets and year end accounts
• Reduce the causes of disputes and to give guidance to resolving disputes where these do occur.”

Are you ready to embrace these changes? Do you thoroughly understand any impact on your working practices and what is expected? To ensure you and your teams are fully appraised, why not hear it from horses mouth? Andrew Bulmer RICS, the UK Residential Director at RICS and Chair of the RICS Residential Property Professional Group Board and RICS Residential Property Management Group whose primary areas of expertise are in residential block management, lettings and property management was one of the key note speakers at this year’s Property Management Unwrapped event in June 2016.