Page 18 - Riverside Quarter Proposal

18
Riverside Quarter | Request for Information
Direction and Authority
■ With comparable instructions, where do you typically take instruction from your client? What do you expect to consult with them on? In an ideal world where you would like their support and instruction?
The key document is of course the management agreement, and whilst we have provided as requested our specimen agreement, we are always keen and amenable to this being tailored to suit all contractual parties, and importantly responsibilities under the terms of the various commercial and residential leases.
On a large estate such as Riverside Quarter there are many contrasting and interlinked requirements, and the key element, is that nothing should fall down gaps, and potentially create an inferior level of service.
A clear structure both within the managing agent’s team, and also with FPUK is crucial. Experts on each side should be encouraged to meet, debate and agree operational aspects on an ongoing basis, provided that all such interactions are clearly recorded, and reported within both monthly and quarterly reports.
» Please see Appendix 3 - Management agreement and KPIS
The key to reporting, in terms of its extent and frequency should encompass 4 key areas
» Operational » Financial
» Compliance » Legal
An executive summary should cover all four aspects, especially as they are often interlinked. This should highlight key issues within the reports on where the managing agent requires formal instruction, advice, direction and guidance. It is Mainstay’s practice not to over burden clients with minutiae management, and come armed at all times with recommendations. The old adage of manager managing, and Director’s directing is key here.
Examples of where direction and authorisation is required though would include the following scenario’s.
» Restructuring of on site management team, irrespective of cost implications, due to historical management of staff by FPUK.
» Amendment to site contracting arrangements where we believe there are currently legal, statutory or Health & Safety risks to the client.
» Authorisation and sign off of annual budgets and accounts.
» Insurance revaluation instruction.
» Potential application to First Tier Tribunal in relation to S20 major works.
» Realignment of service charge, potentially affecting service charges payable by a group of lessees or the freeholder.
» Receipt of enforcement notices.
» Financial approvals where thresholds are exceeded.
» Communication to residents of a sensitive nature, eg. cladding.
» Section 20 notices for major works or deficit recovery.