Factoring Services Provided

As Factor we provide a comprehensive Property Management and Estate Maintenance Service for which you are charged a Management Fee. This is reviewed annually to ensure that it reflects the actual costs incurred by the Association in providing this service.

The charge is part of your Factoring invoice which is issued to you quarterly in arrears.

Your Management Fee covers:

All property management and estate maintenance administration.
All communication with owners including Written Statement of Services, regular newsletter and annual report.
Procuring, arranging and monitoring cyclical contracts including back court/common maintenance works and close cleaning services.
Customer Services ensuring that owners can report a repair or discuss factoring issues with relevant staff members.
Administration of Building Insurance, premiums and claims.
Quarterly invoicing.
Copy invoices free of charge. However, a charge of £10.00 plus VAT will be applied if more than 3 such requests are made during the year.
Property Inspections and advisory service.
Pre-inspection of works where requested and post inspection of 10% of repairs across our entire management portfolio.
Owner consultation and close meetings as and when required.
Registration fee under Property Factors Act 2011.

Building Insurance

One of our legal responsibilities that we have as your factor for those persons living in tenemental properties, as set out in your deed of conditions, is the provision of common block buildings insurance. The Deed is designed to protect everyone’s interests and ensure that all properties in the block are covered in the event of an insured act such as fire or storm damage. Your title will likely require you to participate in the block buildings insurance policy.

The Association’s buildings insurance is renewed annually, the terms are available from the Association on request. The policy runs from 1st April to 31st March each year and will automatically be renewed by the Association annually for as long as we provide factoring services to your block. The Association uses the services of an Insurance Broker to ensure value for money when procuring insurance services. The policy is a block policy covering all our wholly owned and factored stock and is fully comprehensive.

Please refer to your Written Statement of Services for further information.

Common Estate Service Charge

We provide a fully comprehensive Estate Management Service to ensure that common areas are regularly inspected and maintained to the highest possible standard.

The Estate Services that you are charged for are contained within your Deed of Conditions:-

Backcourt and Garden Maintenance Service
Common Grounds
Close Cleaning – you can opt out of this service provided the majority in the block vote to do so.

Common Electrical Charges

These charges which are accrued due to the following reasons:-

Stair Lighting – the Association is billed annually by Glasgow City Council for the provision of stair lighting within the tenement block. This charge is then passed on quarterly to owners.
Common Electrics – This is the charge for controlled entry door and back court lighting electrics paid by the Association to the supplier and passed onto owners in their quarterly invoice.