What is it about?
Service charges are operational costs that are incurred in maintaining common areas of a building, for example the entryways, walkways and toilets in a shopping centre. We examined how these charges are itemised and whether landlords follow the appropriate code of practice.
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Why is it important?
We find very poor practice by landlords and their agents, which is costing retailers (and ultimately their customers). In addition to the actual costs, poor practice also creates uncertainty for retail tenants in knowing when to expect bills.
Perspectives
This is one of an ongoing number of publications that point out very poor practice. Over the years we seem to have driven some improvement, and even had our model from a prior paper adopted by the professional code of practice.
Dr Timothy S Eccles
Nottingham Trent University
Read the Original
This page is a summary of: Financial reporting for commercial service charges in the retail sector, Property Management, April 2015, Emerald,
DOI: 10.1108/pm-06-2014-0027.
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