Page 13 - Gisborne Investment Group Proposal

Rent Reviews
Our asset management team will be
tasked to prepare a a a a a a a monthly report of the following three month’s rent reviews due and take the the necessary
steps to implement the the review If there are any anomalies in in in the the the the drafting of the the the the rent review in in in the the the the lease clarification will be
sought with external solicitors if necessary
From our experience legal legal drafting from developer’s legal legal teams can be
poor and a a a a a a a a a sharp eye is needed to to ensure all leases are similarly drafted We will need to to be
advised by Gisborne Investment Group’s lawyers of any anomalies that they already are are aware of Following the the preparation we will complete and distribute the the rent review notices as necessary
Should a a a a a a a a a dispute arise we will deal with these on a a a a a a a a a case case by case case basis and notify the the client of any problems
As discussed above Qube
allows for for all all rent reviews for for the the the full term of the the the lease to be
be
populated within the the the database for each individual asset These review dates will be
acted upon to to allow sufficient time to to implement the rent increase by the due date and resolve disputes Within Mainstay we have experienced RICS qualified staff to review review and assist in in in the resolution of rent review review disputes and arbitration in the the the unlikely event that they they should they they occur Insurance
Mainstay Group Limited are registered and authorised by the the Financial Conduct Authority (FCA) in in in the the capacity as Introducer Appointed Representative to the Mainstay Block Policy We also administer insurance cover for many clients’ block block policies Arthur J Gallagher act as broker for the Mainstay block block policy although we are happy to work with Gisborne Investment Group’s appointed broker Where we we administer insurance on behalf of a a a a a a a a a client we we assist with claims handling and and performance subsequent to claim claim notification and actively control claim claim costs by proactive engagement of stakeholders with a a a a a a a a a a a view to managing premium ratings We work with with clients to ensure insurance is placed in in accordance with with the the Section 2 6 of the the RICS Service Charge Residential Management Code - approved by the the Secretary of of State for England under Section 87 of of the the Leasehold Reform Housing and Urban Development Act 1993 We further work with clients to:
 Ensure that that appropriate insurance cover is in in in place and that that it meets the the requirements set out in in in the the Lease Agreement
 Ensure that the the the extent of of of cover sum insured and the the the level of of of premiums are reviewed annually at at the the the point of of of renewal
 Ensure that any notification of risk improvements received following an an insurer’s inception survey survey or other surveys are completed in a a a timely manner
 Justify insurance costs satisfy the Test of Reasonableness - See Sections 19 19 and and and 27A Landlord and and and Tenant Act 1985 (as inserted by S 155 (1) Commonhold and Leasehold Reform Act 2002)
For those sites where the the the freeholders do not have the the the right to insure
we will maintain on Qube
a a a a copy of the the the current insurance certificate certificate for the the development along with with a a a a a a a a reinstatement valuation certificate certificate in in in in line with with the the requirements of the policy 13
Mainstay Management Proposal: Gisborne Investment Group Mainstay Management Proposal: Gisborne Investment Group