block_3.jpg Commercial Property Management

Introduction 

Mainstay is a specialist property management company and the priority of our commercial management team is to maximise the full potential of our clients’ property assets to ensure that the best return on investment is achieved.

Mainstay believes in an active ‘hands on’ approach to management of property and facilities management and are committed to exceeding our client’s expectations, whilst adding value, whatever the type of property and location.

Provision of Services
Our management services are comprehensive and flexible to allow modification to suit client's individual needs and specific building requirements.  Our dedicated team have expertise in managing all types of commercial property throughout the country and work with our clients to maximise income returns in order to maintain and improve capital values.

Services include:

- Collection of rent, service charge and insurance premiums
- Delivery of detailed income and expenditure accounts
- Regular inspection of property
- Budgeting, procurement and supervision of contracts
- Payment of outgoigs relating to common parts
- Advising on tenants, applications for assignments, sub-lettings,
  alterations and change of use
- General liaison with the client and other professional advisors
  appointed

Fiduciary Duties
Mainstay holds all client monies in separately designated Trust accounts in accordance with current legislation and the RICS Rules of Conduct and Code of Service Charge Management.

Budgets and Accounting
Mainstay recognises that working on behalf of our clients, we need to provide best advice and guidance in order to ensure value for money.  As a result, we prepare the financial budget one to two months in advance of the service charge year.  Our budgets are primarily based on the current  year’s expenditure (if applicable) plus future allowances.

Comprehensive accounting records are maintained with detailed statements issued to the client on a quarterly basis.  Year end reconciliation statements will be prepared and administered as appropriate in accordance with the RICS Code of Practice: Service Charges in Commercial Property.

Rent Collection and Accounting
The accounting services provided by Mainstay are flexible and can be tailored to suit the requirements of each individual client, but will include the preparation of annual estimates, the demanding and collection of rents and service charges and the recovery of insurance premiums. .

Credit ControlWe understand that cashflow is of paramount importance to clients and Mainstay will agree a debt recovery strategy with the client and liaise with the client’s solicitors and bailiffs where appropriate.

Information Technology
Information Technology plays a major part in delivering accurate accounting information to our clients and Mainstay has operated arguably the industry’s leading property management software, Qube, for some 10 years. 

Emergency AssistanceOutside of normal office hours, Mainstay provides emergency support for any repairs or maintenance that affect multi-occupied buildings in management, either to the fabric of the building or the common areas of the development.

Health & SafetyHealth and safety management is an important and time-intensive activity and the penalties for breaches of Health and Safety Law are of serious concern for everyone involved in property management, and as a result Mainstay invests heavily in ensuring that all our managements are completely compliant and safe.

Mainstay has a dedicated team who track and control all maintenance contracts and statutory inspections to ensure that these take place and any resultant works are organised.  We ensure that all systems comply with relevant legislation, any British Standards and the manufacturer’s recommendations.

Through proactive maintenance and inspection, we believe this protects our managements and clients and ultimately prolongs the working life of any equipment.

Mainstay will ensure that a general health & safety and fire risk assessment is carried out on each development where the client has a residual responsibility in accordance with The Regulatory Reform (Fire Safety) Order, 2005 and all relevant Health & safety Legislation, and that actions identified are carried out.

Site Staff and Training
Many developments benefit from having onsite staff either through a concierge, caretaker or cleaner. Mainstay is able to take on employment and supervision of site staff through Mainstay Facilities Management (MFM).

Each member of staff is provided with site specific training and training in all relevant health and safety law and procedural requirements.  We closely monitor all our staff and work hard to continuously improve the services we can provide.

Additional Services
Many of our clients look to Mainstay to provide services in addition to our management services.  These can be provided either in-house or in conjunction with other professionals recommended by mainstay, who would report thought us.

  - Rent reviews, Lease renewals
  - Schedules of condition and dilapidations
  - Letting of vacant property
  - Insurance valuations
  - Investment purchase and sales
  - Advice on refurbishment and project management
  - Valuation for accounts, tax or other purposes
  - Planning and rating consultancy