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PurposeThe paper utilises formality-informality modelling to examine occupational change, using commercial service charge management as its case study.Design/methodology/approachThis is a conceptual paper that develops a typology for applying formalisation to occupational change and then utilises historiography to generate a narrative on the evolution of service charge management.FindingsFormality is seen as a method of improving transparency and performance as a “modern” response to a range complaints about professional performance. Whilst real improvement failed to develop, a “snowball” of continued formalisation remained the perceived solution, leading to centralisation of measures of professional performance.Research limitations/implicationsThe work is a conceptual paper that develops a historiography on the development of service charge administrative practice. Whilst it relies on objective data and secondary literature, the narrative that is developed is subjective and interpretive.Originality/valueThe conceptual nature of the work offers potential insights into occupational organisation. It suggests that formalising procedures in itself does not improve performance.

PurposeThe paper provides a snapshot analysis on the state of service charge management at the point in which its regulatory framework by RICS changed from a voluntary code of practice to a mandatory professional statement.Design/methodology/approachThe data consist of a unique eight-year longitudinal study of service charge statements and practice (2010–2017). Because of the confidential nature of such business-sensitive information, this is a priceless study of real-world practice over such a long period and is able to illustrate both annual compliance and the year-on-year changes. Given this, it is recognised that data are skewed in favour of compliance because they are derived from an actively managed portfolio.FindingsThe results continue to illustrate long-running problems of non-compliance with “required” metrics. Given the inherent bias in the data, this is especially difficult to excuse. The paper also analyses the results in the light of the new RICS professional statement, which requires mandatory compliance. Whilst some of the metrics are advisory, there remain questions over how RICS might realistically enforce so many practitioners to change their existing performance and how willing the institution might be to actually prosecute failure. It also revisits the issue of institutionalised benchmarking of standards. Intriguingly, there are islands of almost perfect compliance, which offers an interesting contrast and raises further research questions on why some practitioners provide such exemplary work.Research limitations/implicationsThe data are derived from the clients of a UK property management consultancy. This does preclude any randomness to the sampling. However, the richness of the data and the methodology adopted provide valid data.Originality/valueThis work offers both unique data and an eight-year longitudinal analysis, but also a timely comparison with the requirements within a new RICS professional statement. This shift in regulatory regime reinforces the value of the work.

Purpose The relationship between the owner and an occupier of a commercial property is determined by the lease, inasmuch as it sets out the legally enforceable duties and obligations of each party. However, it is only that, a legal framework; it is not a practical management handbook on how best to operate the premises and generate an amicable business relationship. The purpose of this paper is to consider the role of the lease in reinforcing and disrupting the generation of best practice within real estate management. Design/methodology/approach The paper examines actual leases to understand the service charge and how data pertinent to it is collected, disseminated and interpreted by both parties in carrying out their activities within and about the property. This is then benchmarked against provisions of the Service Charge Code of Practice. Findings Despite a number of incarnations of a code of practice on service charges during the lifetime of the leases examined, the research finds a troublingly small uptake of its ideas within new leases. Practical implications The findings predict future problems in the practical management of multi-tenanted properties, coupled with a call that leases are written to the Code’s requirements. Originality/value No such lease examination has been undertaken to date.

Purpose - The purpose of this paper is to assess whether financial reporting practices for commercial service charges in the UK retail sector match the best practice requirements of the Royal Institution of Chartered Surveyors (RICS) Code of practice for commercial service charges. This assessment was performed by benchmarking commercial service charge documents provided to retail occupiers at UK shopping centres against the RICS Code's financial reporting requirements. Design/methodology/approach - Data were generated from direct analysis of actual service charge documents supplied to commercial retail occupiers. This ensures authenticity by removing reliance upon third party reporting of said data. The paper uses a sample size that is representative of the financial reporting practices for commercial service charges at UK shopping centres. Findings - Levels of compliance with the financial reporting requirements of the RICS Code of Practice for commercial service charges are found to be poor, especially in terms of the disclosure of the accounting policies used during the preparation of the service charge accounts. These results contrast with claims by the professional body. Research limitations/implications - The work analyses service charge documents prepared during 2010-2012 by 44 managing agents and 87 landlords at 126 UK retail shopping centres located in Great Britain. Content analysis was utilised to interpret the data and required some subjective judgement by the researchers. Originality/value - Data are original and the paper provides a unique benchmarking test for assessing Code compliance. This contrasts markedly with the anecdotal evidence offered by the profession in defending current standards of practice and whilst the paper has limitations, it is the largest and most in-depth study of commercial service charge practices at UK retail shopping centres.

Purpose – The purpose of this paper is to assess whether financial reporting practices for commercial service charges in the UK retail sector match the best practice requirements of the Royal Institution of Chartered Surveyors (RICS) Code of practice for commercial service charges. This assessment was performed by benchmarking commercial service charge documents provided to retail occupiers at UK shopping centres against the RICS Code’s financial reporting requirements. Design/methodology/approach – Data were generated from direct analysis of actual service charge documents supplied to commercial retail occupiers. This ensures authenticity by removing reliance upon third party reporting of said data. The paper uses a sample size that is representative of the financial reporting practices for commercial service charges at UK shopping centres. Findings – Levels of compliance with the financial reporting requirements of the RICS Code of Practice for commercial service charges are found to be poor, especially in terms of the disclosure of the accounting policies used during the preparation of the service charge accounts. These results contrast with claims by the professional body. Research limitations/implications – The work analyses service charge documents prepared during 2010-2012 by 44 managing agents and 87 landlords at 126 UK retail shopping centres located in Great Britain. Content analysis was utilised to interpret the data and required some subjective judgement by the researchers. Originality/value – Data are original and the paper provides a unique benchmarking test for assessing Code compliance. This contrasts markedly with the anecdotal evidence offered by the profession in defending current standards of practice and whilst the paper has limitations, it is the largest and most in-depth study of commercial service charge practices at UK retail shopping centres.

Purpose - The paper seeks to measure compliance by owners and their managing agents with the RICS Code of Practice Service Charges in Commercial Property, emphasising the financial reporting to tenants in multi-let financial services buildings.Design methodology approach - Data were hand collected by examining original source documents provided to commercial leaseholders as part of the service charge management process. This removes bias from relying on secondary respondents to provide data.Findings - The paper finds that requirements of the Code of Practice are not onerous, and whilst service charge management has improved, the majority of landlords still fail to achieve its requirements.Research limitations implications - The sample represents approximately 6.2 per cent of multi-let office space in England and Wales 1998-2009. The content analysis method used requires some subjective interpretation by the researchers.Originality value - Data are original to this research and the paper offers an analysis on the current standards of accounting practice by service charge managers.

Purpose - The paper explores theories of regulation by examining their consistency and fit with the development of smart regulation, better regulation and self-regulation. It achieves this through the use of two case studies. Building control is offered as an example of deregulation, the 1980s approach to \"smart\" regulation, whilst the Primary Authority scheme is provided as an example of current thinking. The paper develops an explanation of how these shifting regulatory architectures have generated current views of how to manage the issue of regulation and then proposes a framework to explain how professional and local authority regulation works and can be made to work better.Design methodology approach - Analytical, as a preliminary to testing theoretical constructs by further empirical research. The paper examines case studies to draw out the drivers for regulatory practice and then establishes a model from this as the basis for further work.Findings - The use of Giddens's concept of Late Modernity is useful in describing the loss of authority by traditional regulators and explaining the adoption of \"smart\" regulation by others seeking to dominate regulation. A lack of theoretical definition as to what is meant by smart regulation can be countered by the development of constructs, such as the regulatory \"triptych\" developed here.Practical implications - The development of a structure for professional and local authority regulation allows researchers to place developments in smart regulation in context. It also allows those newly emerging dominant authorities, in Giddens's terms, to be encouraged to develop a higher quality form of regulation.Originality value - The paper generates a grounded set of concepts that have explanatory efficacy.

Purpose - The paper aims to examine how to create a sinking fund, the legalities of its creation and ownership, taxation issues and the accounting treatment of tenant contributions towards sinking funds within service charges demands in the UK office sector. Design/methodology/approach - The paper reviews the prescriptive guidance that the 2007 RICS Code of Practice makes in terms of the creation and operation of such funds, and concludes within an empirical investigation of industry practice on sinking funds from 2004-2008. Findings - The paper reports whether the Code has improved practice, disclosure, communication and transparency in terms of such funds and speculates on how a future Code might further improve on existing management. Originality/value - The data are original, and findings conclusively prove the need for enforcement of the existing Code, and necessary revisions as well. [PUBLICATION ABSTRACT]

Purpose - The paper aims to examine how to create a sinking fund, the legalities of its creation and ownership, taxation issues and the accounting treatment of tenant contributions towards sinking funds within service charges demands in the UK office sector.Design methodology approach - The paper reviews the prescriptive guidance that the 2007 RICS Code of Practice makes in terms of the creation and operation of such funds, and concludes within an empirical investigation of industry practice on sinking funds from 2004-2008.Findings - The paper reports whether the Code has improved practice, disclosure, communication and transparency in terms of such funds and speculates on how a future Code might further improve on existing management.Originality value - The data are original, and findings conclusively prove the need for enforcement of the existing Code, and necessary revisions as well.