Page 9 - Kensington Oval Proposal

Credit Control
Mainstay understands that adequate cash ow is of paramount importance in ensuring the smooth running of any scheme. We have a sophisticated credit control system and in house debt recovery team.
Their role is to collect all unpaid Service Charges in a timely and conscientious manner, to provide e cient service to our customers and to support our Property Managers. Our approach to credit control is rigorous and robust, additionally we aim to challenge, innovate and continually improve our processes to maximise cash receipts.
Financial Reporting
The degree of client involvement in managing funds and cash ow can be built into the management agreement and we have the ability to report up to weekly on balances.
We have developed a transparent and clear format for nancial reporting. Our commitment accounting process allows us to create bespoke “live” reports to include recommendations and actions taken. These can be produced to encompass bank reconciliation, creditors, debtors, cash held, voids, nancial tendering, purchase orders, sinking funds, ancillary income and expenditure.
3.5 Mechanical & Electrical Equipment
Residential developments have become increasingly complex with regard to the amount and technical nature of on-site Mechanical & Electrical (M&E) Equipment. To keep pace with these developments Mainstay has taken the industry leading step of directly employing a team of mechanical and electrical engineers.
We anticipate, where applicable, involving our in-house experts in the onsite M&E including:
 Fire systems
 Door entry systems
 Communal television system  Emergency lighting
 Electrical circuitry
 Water tanks and pumps
 Lifts
In order to ensure that the M&E equipment is operating e ciently and e ectively, Mainstay will compile an updated assets register using industry leading Kycloud asset management software, which will individually identify each piece of equipment. This will allow us to ensure that the equipment is t for purpose, covered by a suitable maintenance contract, subjected to regulatory inspection, and will enable life cycle cost analysis in conjunction with a planned maintenance programme. This will also guarantee traceability and ensure all plant equipment and utilities are charged to the correct service charge or customer.
Our approach is intended to not only ful l the legal requirements placed on the Duty Holder, but also to protect the assets and extend the working life of installed M&E equipment.
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Mainstay Management Proposal: Kensington Oval Management Company Ltd