RSS FeedRSS Feed

LSH Comment: We want RICS to crack down on rogue business rate salespeople5th June 2012



National commercial property consultancy, Lambert Smith Hampton (LSH), has heavily criticised the sly techniques of an increasing number of business rates salespeople – and is calling on the Royal Institution of Chartered Surveyors (RICS) to take action.

Robert Harlow, Head of Rating for LSH in Wales said: “They typically claim ‘no win, no fee’, suggesting no apparent financial risk. It sounds like a great deal, but it often isn’t.”

Rogue firms may charge as much as 50%, meaning their clients could see very little improvement in their business rates liability if anything is achieved.

“My advice is to never pay anything upfront and to be sure that the percentage of any reduction, which will be claimed as a fee, is made very clear.”

Some cowboy consultants will go on to make appeals that end up costing their client. Robert said: “Rates can go up as well as down. There should be a proper investigation before launching into a reckless appeal.”

LSH also warned to check the small print. Some arrangements are very difficult to cancel, and it has been known for abortive fees to incur a change of as much as 5% of the occupier’s total rateable value.

Commenting on what the RICS can do, Robert said: “The industry should provide a fair and honest service. However, rogue techniques are on the rise; this creates a dangerous environment for rate payers, particularly in these difficult economic times. RICS should take action – for the benefit of the industry’s reputation and the businesses we serve.”

 

Tags: Comment

Recent Headlines

Click here for more news stories...

Commercial Property Events

Have you any commercial property events you'd like to tell us about? It could be networking, exhibitions, seminars, industry lunches or sporting fixtures. We will list them for free. Just email newsdesk@propnews.co.uk with the following details: Event name, date, time, venue, cost, booking info and a brief description of the event.

Commercial Property Jobs

To list your property job vacancies on Property News. Email: richenda@propnews.co.uk.

Sign up to our free e-alerts for all your property news and views.
Follow Property News on Facebook Follow Property News on Twitter Follow Property News on Google+ Follow Property News on Linkedin Property News RSS Feed