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The fully updated Code is approved by the Secretary of State for England under the terms of section 87 of the Leasehold Reform, Housing and Urban Development Act 1993. It is effective from 6 April 2009.
This Code is directed at all those associated with the management of residential properties where service charges are payable - whether agent or occupier. First published in 1997, the Code has been extensively updated to reflect legislative changes, and changes in professional practice since then.
The provision of a home is still a basic requirement. Many residential properties, particularly flats, are managed and maintained by someone other than the occupier, or alongside the occupier. In these circumstances, it is essential that management is undertaken within a proper regulatory framework. This Code provides such a framework to assist in management to the necessary standards. It covers both legislative requirements as well as offering advice on good practice.
RICS believes the Code and Additional Advice will assist residents, owners and occupiers and equip providers of property management services with an understanding of the legislative landscape within which properties are managed together with advice on good practice. Furthermore, it will assist occupiers in obtaining their legal and equitable rights whilst also providing the practitioner with support for decisions taken in a sector where many problems arise due to a lack of understanding of the obligations and duties of each party.