Page 4 - Royal Arch at The Mailbox Proposal

2.0 Royal Arch at the Mailbox
2.1 The Scheme
In response to your speci c queries and issues currently experienced at Royal Arch at the Mailbox, Mainstay is able to put in place the following processes and safeguards:
2.1.1
Relationship with the current managing agent is more di cult than we would like and we believe that a handover may not have all the documentation that you may expect should be readily available.
We are particularly experienced when it comes to handover planning, protocols and process, and we would expect the outgoing agents to operate in a professional and constructive manner within the requirements of ARMA Q and RICS Residential Management Code. We have direct and recent experience of handovers with your current agents, and whilst we note your comments concerning information ow, we will adopt a positive approach on handover.
We charge no fees for our handover activity, and at Mainstay we have a signi cant and experienced Mobilisation Team who will deal with all aspects of the handover from a legal, operational, nancial and contractual perspective. Additionally, we will utilise our in-house HR function to work with the outgoing agents, and the current sta ng team in relation to all TUPE transfer arrangements.
The handover period typically takes a month prior to the handover date (longer in relation to site sta ), and a further month after handover, primarily to deal with nancial records and handover information of lessees’balances and utilities.
A copy of our standard handover document for previously managed schemes, is available.
2.1.2
Process documentation and adherence around short/medium and long-term maintenance plans is not evident to the Directors and problems have arisen including “leaks” on at roofs.
A key constituent of any service charge provision is reserve funds, which typically can form at least 20% of the total annual service charge. From documentation received, we believe your current provision is £35,000 pa.
It is important that any provision is quanti ed, and not utilised to fund day-to-day expenditure in any service charge year.
On appointment, utilising our team of Chartered Building Surveyors and Building Services Engineers, we would propose to commission a full building and asset survey based on physical inspection, as well as a desk top study of ‘as built’ drawings, and contractual detail of plant and equipment. We would also pay speci c reference to any shared areas or services with the wider Mailbox development.
This survey information would then identify the priorities for works and funding required, in order to allow the Board to make key decisions on future reserves planning, and long-term maintenance plans (LTMP).
We would seek to revisit any LTMP on a 3-yearly cycle.
In relation to ongoing leaks and building defects that are not covered by any warranty, the Mainstay Property Management Team has full access at any time to our in-house specialists, and would seek to work closely and directly with the Board on an appropriate solution on a case-by-case basis.
4
Mainstay Management Proposal: Royal Arch Management Company Limited