Financial Arrangements

Your Account

All the Association’s factored accounts are maintained on our computerised system and you can check your account and request a statement to be issued to you. (However, a charge of £10.00+VAT will be applied if more than 3 requests are made during the year for information that has previously been provided).

Your account is charged quarterly in arrears and your bills will be sent either by post or by e-mail if you have requested this. They will be issued:-

Month Issued	April	July	October	January
For Period	1^st January – 31^st March	1^st April – 30^th June	1^st July – 30^th September	1^st October – 31^st December

Charges are reviewed annually in line with the costs that the Association incurs to provide the service and you will be informed by 31st March each year of what your new charges will be.

Your account will contain details of:-

The Management Fee
Buildings Insurance Premium
Back Court Maintenance Charges
Stair Cleaning Charges
Stair Lighting Charges
Common Electrics.

Any common repairs and major works will be added to your invoice.

Payment of Account

Owners are expected to pay their accounts promptly and no later than the 28th of the month in which they are received. The Association provides each owner with a payment card to pay common charges and Common Repairs Accounts and there are various payment methods.

Direct Debit
Bank Standing Order
AllPay
At the Bank of Scotland, Main Street Rutherglen
By Chip and Pin Machine either in the office or by telephone
On the website at Make a Payment

To help with budgeting and to save your time, we recommend that you either set up a Direct Debit or Standing Order to pay your regular Common Charges Accounts.

Benefit Help with Common Charges

Many owners are entitled to benefit help from the Department of Works and Pensions (DWP) with payment of our management fee and most of your common service charges and insurance.

The main qualifying benefits are:-

Income Support
Income Based Job Seekers Allowance
Income Based Employment Support Allowance
Pension Credit
Universal Credit

If you think that you might qualify, contact your local DWP Office. You will need to provide them with proof of your factoring charges.

Factoring Arrears/Debt

We take a firm but sensitive approach to arrears recovery. Our aim is to minimise factoring debt and to ensure that all services can be provided and paid for.

Should you be experiencing difficulties in paying your Factoring Account please do not ignore it, it will not go away. The Association is here to help with access to welfare benefits and money advice. Staff will be able to discuss repayment plans with you if you can only afford to pay the debt off gradually rather than in a lump sum.

Please refer to your Written Statement of Services for further information and our Factoring Debt Recovery Procedure is available in the documents section of this website.

Private Letting

If an owner privately lets their property, the Association will pursue the owner for payment and not the tenants as any factoring debt is due and payable by the owner of the property.

Any sums due in relation to common repairs and factoring are payable by the owner of the property and any enforcement action will be taken against them. It is the responsibility of each owner (private landlord) to ensure that we have adequate contact details on file for them with correct forwarding address for all invoices and correspondence. Failure to provide this could result in important information being missed and factoring debt accumulating.