First things first, when we are referring to an Audit, we mean a Certified or Chartered Accountants Audit. Their role is designed to protect the payers of the service charge, the Tenants. They should verify and certify expenditure by completing a full review and appropriate checks, providing the Tenant’s with the assurance that things have been handled properly…
Assure were instructed on a new Service Charge management contract for a multi-site retailer, who had previously been managed by another consultancy. We always kick start new instructions with a thorough review of the lease, financials and an account reconciliation. A fresh pair of eyes will often identify new issues or new ways of resolving old disputes…
The Covid-19 pandemic has had a significant impact on office occupiers and landlords which looks set to continue for some time. Whilst it has not been a mandatory requirement, the Government has advised businesses to allow employees to work from home, if possible, at various times throughout the pandemic. Many employers have implemented hybrid working either for the foreseeable future or as a permanent arrangement…
For us to understand what will happen to Office Service Charge budgets in 2022, we need to look back. In 2021, the approach taken by office sector landlords to budgeting has been mixed. Whilst the majority presented reduced budgets, compared to 2020, many adopted a ‘business as usual’ approach, issuing increased budgets that have included substantial major works in some cases…
From our internal research, based on renewals that have taken place over the past three months, landlords insurance recharges are rising. We are seeing average increases of 13.5% feeding through at renewal. This is a combination of rising declared values (4%) and escalating premium rates (9.5%). In many cases the increases are far greater, with Landlords extending their cover as well as taking a more active role in the identification of risks…
