Maintenance solutions overview

Maintenance, repair and replacement plan

Each community scheme is different and there's no such thing as a typical MRRP

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In a nutshell

The king understands that proactive and on-going building maintenance proves less costly and inconvenient in the long-run. So, we'll prepare a unique and comprehensive 10-year maintenance, repair and replacement plan (MRRP) for your community scheme. Our MRRP will estimate the financial reserves you need to cover future capital expenditure.

We've got it all together

When you're covered by the king, it's easy to co-ordinate the financial and logistical requirements and resources that are needed to keep your community scheme well maintained. And our MRRPs comply fully with all current legislation, too.

From preventing the premature breakdown of mechanical systems, like lifts and air-con units, and prolonging the life of virtually every other system in your community scheme, to predicting when repairs or replacements may be due... We'll put together a 10-year MRRP to help you budget, plan, and keep everyone up to speed.

Protect yourself

While preparing and implementing an MRRP is legally non-negotiable, the upside of having 1 is that a proper plan protects you and your residents from any nasty surprises. There are guidelines for formulating these plans, but accurately forecasting your scheme's needs and then taking inflation and other cost factors into account over the long-term can still be tricky.

This is where our qualified, experienced and compliant consultants step in. Once they've done their inspections and assessments and made their calculations… The Urbanise platform generates a 10-year MRRP that's unique to your community's needs and assets, optimised to your community's income and risks and legally-compliant. Best of all, it's easy to understand.

The good news is that our rates for developing MRRPs are very competitive, and we only charge a small annual fee to keep them up-to-date. The great news is that communities that have royal MRRPs get discounts on their royal community insurance.

We won't let wear-and-tear wear you down

While our community insurance covers you for loss and damage directly caused by the insured perils, the effects of normal wear-and-tear are excluded... As is the case with most other building insurance products. Claims can be rejected if the damage is caused due to poor maintenance... And we certainly don't want that to happen!

  • Routine maintenance and major capital works in old and/or poorly maintained buildings. Damp and internal water leaks, things like lifts and air-con units breaking down, blocked gutters, electrical faults and 'concrete cancer'… All things that can become issues.
  • Major emergency repairs, mostly relating to damp and plumbing problems.
  • Building defects, like damp and internal water leaks, lifts and air-con units breaking down, and guttering and electrical faults. We also look at sub-standard tiling, defective or inappropriate design and the use of unsuitable building materials… Which can cause buildings to 'move' and crack, and poor fire and safety compliance that can compound these risks.
  • We inspect all the major aspects of typical common areas... Wiring, lighting and electrical systems; plumbing, drainage and storm water systems; heating and cooling systems; lifts; any carpeting and furnishings; roofing; interior and exterior paint work and waterproofing; communication and service supply systems; parking facilities, roadways and paved areas; security systems; and recreational facilities.
  • Our reports detail the expected 'useful life' of items... For example, air-con units have a useful life based on their expected running hours and workload.
  • We identify and depreciate major capital items (like electronic security systems) separately, because the useful life of each of these components is generally different to that of a building asset.
  • Once we've identified areas that'll need attention, we estimate the cost of this work.
  • For greater accuracy, we align industry data (which ensures that our estimate is in line with national norms) with regional data (which ensures that our estimate is right for your neighbourhood).
  • For greater transparency, we break total costs down into quantities and cost rates.
  • We time your expenditure for efficiency... In other words, if you've always progressively replaced brick paving, we allow for percentages of this cost on an on-going basis, rather than in 1 lump sum.
  • We work out what needs to be done first, so that later works don't damage earlier repairs.
  • We save you money by suggesting ways to reduce maintenance costs.
  • We work with qualified quantity surveyors, building consultants and technical research staff to produce our reports and consistently deliver royal service.

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King Price Insurance Company Ltd and King Price Life Insurance Ltd are part of the King
Price Group of companies.

King Price Insurance Company Ltd is a licensed non-life insurer and registered financial
services provider. (Reg no. 2009/012496/06 | FSP no. 43862)

King Price Life Insurance Ltd is a licensed life insurer and registered financial services
provider. (Reg no. 1948/029011/06 | FSP no. 47235)

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