Page 16 - Project Acanthus_Mainstay

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“Mainstay are proud of our many industry accreditations which are testament to our stringent business processes and uncompromising attitude to compliance and risk.”
Charles Lucas
Group Technical Director
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Mainstay: Response to Tender | Project Acanthus - Part One
13. Confirm you operate in compliance with ARMA, the IRPM and the RICS Residential Code.
We are a corporate member of the Association of Residential Managing Agents, being the first company to obtain ARMA-Q (ARMA Standards) accreditation. This code of practice provides the first proper regulation of the industry and is
set to become an essential prerequisite in the selection of residential leasehold property managers, recognising the professional benchmark standards in the marketplace.
Our Property Managers are members of the Institute of Residential Property Management (IRPM) with many qualified at Associate to Fellow level, as well as Member/Associate Members of Royal Institution of Chartered Surveyors (RICS).
We are fully compliant with RICS regulations and Mainstay is a Corporate Member.
14. Confirm the average number of months taken to conclude service charge reconciliations for the last three years and the total number of service charge reconciliations you currently have outstanding with a year-end
of earlier than March 2019 (both in absolute number and as a proportion of your fully managed portfolio).
On average, service charge reconciliations in the last three years are completed within three months.
Four sets of accounts remain outstanding for the period to March 2019, which is 0.82% of our full portfolio.
Of the four sets of accounts we currently have outstanding, we have inherited two from the developments’ previous managing agents. As part of taking management, our team has reviewed these accounts and will circulate them shortly.
Two are outstanding while we await client sign off.