Page 10 - PRS Brochure

Full Life Cycle Planning
Accurate life cycle planning is essential in underpinning the value and long-term nancial sustainability of any property.
With BTR, where the only income is the rental stream (i.e. no service charge), accurate life cycle plans and estimated budgeting is fundamental in ensuring the long-term sustainability of a buildings structural integrity and value.
Both are fundamental in safeguarding investor returns.
Asset Register
At the outset, a fully indexed asset register would be prepared which would identify every asset in the building; maintenance regime /requirement; life expectancy and installation cost.
e Asset Register would be an in integral part of nancial forecasting for ‘revenue spend’ in the short to medium and forms a key component of the long-term maintenance strategy.
In conjunction with the Asset Register, a long-term life cycle plan will enable strategic decisions to be framed around establishing provision for the long-term maintenance and replacement of both future capital and cyclical works.
Whilst the initial life cycle plan should incorporate all cyclical and capital replacement requirements over a thirty-year period, the plan would need to be revisited and reviewed every ve years and where applicable estimated costs and /or life expectancy forecasts be updated.
Although we would envisage one overall Life Cycle Plan, from this plan several ‘sub’ plans would need to be formulated to cover the estimated life expectancy and replacement cost of key elements, for example:
 Internal Common Areas (lighting, carpets and internal decorations)
 M & E (Li s, re detection, heating, water pumps and leisure plant and facilities etc)
 Main building structure (roofs, windows, balconies)
 External areas (drainage and sewage)
 Flats reserve (redecoration, carpets and white goods)
 Car park reserve (car park ventilation, lighting, pumps,
redecoration)
 Contingency reserve (unforeseeable (at inception)
improvement and or enhancement works required to respond to changes in customer demand)
Procurement
Mainstay employs dedicated procurement professionals to oversee the procurement of all our service providers ensuring we deliver value for money solutions through a fair, objective and transparent process.
We are accredited via the Contractors Health and Safety Assessment scheme and Safe Contractor programme. All our service providers are expected to sign up to our service level agreements guaranteeing response times, cost and customer satisfaction.
10