The Institute has been working on the possibility to analyze service charges for office projects. The first report is due to appear in June 2019, inclusive of settlements for 2018. A universal model developed by the Council of Experts allows managers of modern office building to compare actually incurred costs related to management.
The experts were not that much challenged with drafting of universal cost centers allocated to a model budget, as with development of research methodology, determination of boundary conditions and assumptions necessary to prepare subsequent Retail Institute analyses which are reliable and contain comparative data.
Benchmarks show effectiveness of building management and are an excellent tool supporting audits of service charges carried out by owners and tenants.