Taylor Vinters - Solicitors

Local authorities need to take a strategic approach to managing their property portfolios, according to the Royal Institution of Chartered Surveyors (Rics).

The organisation has published new guidance for council members, advising them on how to better manage their assets during the economic downturn.

Figures from Rics indicate that local authorities are responsible for a collective property portfolio valued at £250 billion, which has attracted criticism over its use during the economic climate.

The new guide provides an overview of the key policy areas that need to be considered by local authorities, such as value for money, measuring asset performance and improving customer experience.

Commenting on the new guides, chair of the Rics public sector executive group Keith Jones explained that local council assets need to be managed like a "corporate resource".

He said: "Senior decision makers need to engage with the asset management agenda and make sure their authority's assets fully support the authority's strategic plans.

"These leaflets aim to assist with the policy context within which decisions are made and give suggested best practice."

Last month's Property Industry Alliance index published by Rics indicated that satisfaction levels among commercial property tenants has declined, suggesting this could be an important area for authorities to concentrate on.