“The unrepresented client(s) are ‘Void’ and ‘Landlord Shortfall’ – they have an increasing service charge liability and an ever expanding portfolio. If there are any Managing Agents that can help let us know!
On a serious note, as part of a recent client review meeting, we debated this subject and why Landlords are not doing more about it. In many cases service charges are rising and rents are falling. Where units are occupied, more caps (with Landlord shortfalls) are being agreed. All good reasons for landlords to act. Trouble is that doesn’t seem high on the agenda at the moment and Managing Agents have little incentive to drive down costs.
We are discussing these issues across our client base including how we might work with Landlords to tackle the issue for the benefit of the occupier, be that a retailer, office occupier or the Landlords void/shortfall.