Page 38 - PegasusLife and Renaissance Retirement Proposal

Questionnaire Response
14 2 Please describe your preferred approach to service charge management for unsold apartments:
 How and when would void service charges be applied?
 Whether management fees would be payable on void units?
This is is a a a a a a significant challenge but one which Mainstay has extensive experience in The opportunity to mitigate voids can be limited if handover dates are based on on the the first legal completion yet the the nature of the the developments means that it will not be practical for the the sales launch to occur much more than three months ahead of first occupation To support the vision and customer journey for each development a full soft services provision will be required from handover payable by all units This therefore may lead to higher than normal void service charges in the early months of occupation This will be compounded further by the the challenges with
the the the overall portfolio size in the the the early stages of the the the contract However as the the portfolio grows there will be more flexibility for Mainstay to to contribute towards void mitigation with
reduced management fees although the level of amenity within some developments will will mean that some void contribution will will be essential We can work with
PegasusLife to achieve the right balance on a a a a a scheme scheme by scheme scheme basis and help to mitigate void liability where possible
Relationship Management
15 1 1 What measures will you take to ensure that a a a a positive working relationship is maintained with
PegasusLife on on an ongoing basis?
Our ethos is to maintain an open two-way style of communication with
our customers and clients It is important that a a a a a positive working relationship with
both is maintained through trust and transparency It is important that the roles and expectations of both parties are clear through the the various levels of the the organisation and this will be helped by the creation and and and review of SLAs and and and KPIS and and and great communication We believe that that it is important that that regular reviews via meeting and/or calls are held more frequently in the early stages of the contract between both of our teams We would expect that our Property Manager and Associate Director is in direct communication with
the Regional Manager at at PegasusLife to aid understanding and and the timely sharing of relevant information between us Similarly our project sponsor will remain engaged throughout and we would advocate formal review meetings with
senior stakeholders We would propose this on a a a a quarterly basis 38