Page 14 - St Mary Le Park Court Proposal

4.8 Management Fees
As a general principle, fees are charged on a per unit basis and linked to The Average Weekly Earnings Index, in accordance with the RICS Code of Practice.
We understand that each client has di erent needs and expectations and tailor our service provision and fees accordingly.
For a scheme of this size, type and location, we propose initial fees as follows, per annum. All fees are subject to VAT at the prevailing rate.
Apartments: £325 + VAT
As discussed at our meeting, the current agent’s fee is unsustainable, and we have endeavoured to bridge the gap in fee, and management quality by o ering the graduated fee approach detailed above.
4.9 Handover Plan and Process
Our Mobilisation Team will be responsible for client and scheme integration and will work closely with our clients in preparation for handover into management, and liaise closely with the current management agent.
The Mobilisation Team works to a prescribed site handover document which assists in the smooth transition into management.
We have discussed a proposed transfer to management by the end of 2017. I believe this is achievable, but we may require involvement and support from Freehold Directors with the current Management Agent to achieve this deadline.
Plans for the First Year of Appointment
We will prepare and agree a detailed action plan and timescales for the rst year. We would recommend that the plan be shared with all stakeholders.
The action plan would then form the basis for future updates and meetings. We would envisage that it would be a working document which would evolve and change over time.
This would include (but not exclusively) timelines for the following:
 With the agreement of the Directors, commission an updated Planned Preventative Maintenance programme.
 A regular and reviewed cleaning, grounds maintenance and inspection regime.
 To agree signi cant alterations to service charge budgets and create revised budgets. Greater detail and transparency is required in the budgeting process, and there is a clear understanding, that a number of budget headings, notably fees, reserves provision, Health & Safety, and maintenance contract costs need to be increased.
 To agree a management contract.
 To agree and structure reporting and communication regimes.
 To issue introductory letters covering speci c contacts, web access details, surgeries and meetings for residents.
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Mainstay Management Proposal: St Mary Le Park Freehold Limited