Page 36 - PegasusLife and Renaissance Retirement Proposal

Questionnaire Response
12 4 What would be your proposed management fee?
We have completed a a a a detailed business model based on our current understanding of the requirement and and have constructed a a dedicated resourcing structure to deliver the services Depending on on the final scope of responsibility we would anticipate a a a fee level of between £360 - £390 + VAT per unit However in in the the the the early stage of of the the the the instruction the the the the size of of the the the the portfolio will not support the investment at this fee level During the early phases we would be willing to take a a a a sub- economic view regarding overhead recovery and profitability on on on the contract and would propose to discuss on on on an an open-book basis the the the best approach during the the the infancy of the the the contract We anticipate depending on delivery of the development and sales programme that this management fee will deliver the the the necessary revenues to to support the the the operation towards the the the end of 2019 If our proposal is is of interest we we would suggest that we we discuss our fee proposal with with you in more detail and seek to agree with with you the best method to proceed 12 5 Please list sources of all other income which you may expect to receive in the course of your duties as managing agent Mainstay has a a a a a a published tariff which details the services excluded from the Management Fee for which Mainstay would seek to charge a a a a a a a fee that represents fair and reasonable remuneration for carrying out the service(s) if required Where such fees are to be recovered from individual leaseholders then the the amount is notified to the the tenant in question Fees are advised to lessees as appropriate via specific correspondence service charge account notes welcome documentation and/or within our published Tariff We also hold service charge open surgeries for residents to explain budgets accounts service charge schedules and expenditure as required across developments See Appendix S S - Mainstay Tariff Transition of Existing Schemes into Management 13 1 1 If successful what would be your preferred approach to to transfer of existing schemes into your management?
We have experience of different approaches to transferring schemes into management both through a a a a a a phased approach and mobilising many schemes at once We have previously taken handovers of portfolios in a a a a a phased approach using our detailed tried and and tested handover processes This approach allows for any adjustments of the planned mobilisation process to to be taken in to to account ahead of future handovers A single date of of transfer for a a a a a number of of schemes can also be achieved through much of the same approach although additional work would be needed ahead of the mobilisation date to ensure that the needs of each scheme can be quickly met Although we have also successfully taken handover of a a a a a a a national contract of 17 sites and 130 staff members when Carillion fell into liquidation These were mobilised within 7 days We therefore would be able to accommodate your preferences in in relation to a a a a phased phased or single phased phased mobilisation particularly as the portfolio is is still relatively contained at this stage 36