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For those involved with service charges this book is an essential guide not only to good practice, but also on how to anticipate and be prepared for what might otherwise be costly oversights.
The Landlord and Tenant Act 1985 and 1987, subsequently amended by the Housing Act 1996 and the Commonhold & Leasehold Reform Act 2002, imposes statutory constraints in respect of service charges for residential property. The commercial sector has no such statutory regulation or control.
In recent years the huge expansion in mixed-use properties has been heightened not by organic growth, but by government policymaking. Many statutory rules governing residential service charges that do not normally affect commercial developments will need to be taken into account.
This book covers everything from setting up an accounts system and record keeping, through to service charge disputes and the Leasehold Valuation Tribunal. It is an ideal guide to possible pitfalls and examples of best practice in the service charge field.