A local property professional is warning businesses to be on their guard of companies who are looking to profiteer from the recent Rating Revaluation by charging excessive “up front” fees on the promise that these companies can reduce their rates liability.

Eddy Cottrell of local surveying Practice, Cottrell Commercial, has experienced an increase in calls from a range of Businesses concerned by correspondence and cold calls they are receiving from such firms and urges businesses to adopt a degree of caution before employing a rating advisor. “These firms are demanding excessive up front fees on the promise they will eventually reduce the rating liability of their particular property. In reality, and in many circumstances, these fees could outweigh the potential savings to be made. In fact you could potentially end up spending more in fees than you save!!”

Due to the recent revaluation of all commercial properties “rogue traders” have identified this particular arena as a potential money spinning target and Eddy’s advice is to make sure that whoever you employ is a qualified Member of the Royal Institution of Chartered Surveyors and that you have undertaken a background check to make sure they have the relevant credentials.
 “Most of all”, he says, “check the fee agreements carefully and if you are not comfortable with it, then don’t sign it!”

The situation has recently come to light to Helsby to Hand, as one of our regular advertisers, Karen Applegate of Applegate Accountants, was asked to spend £800 up front to one firm who purport to specialise in this arena. Fortunately she spoke with Eddy prior, who identified that the Rating Authority had indeed made a basic mistake in her assessment and Karen will now benefit from a substantial saving and back payment!

As Karen says “It goes to show that there are savings to be made, but Businesses need to make sure that the fees are reflective of the work and skills employed in any particular case. We are very grateful to Cottrell Commercial for making sure we didn’t waste any money before we knew we had a very good case to put forward”