Why it is always best to use a property factor?
In Scotland, property factors are appointed by a majority of owners to manage and maintain the common arears of a building. This often includes the common stairwell, grounds, back courts, bin shelters and parking, to name a few! The factor is on hand to instruct reactive repairs, usually conducts inspections of the building, organises block insurance for owners and arranges cyclical maintenance such as stair cleaning and landscaping.
There are instances where owners would prefer to manage the common area themselves, however this can become problematic if not all owners are active in responding to maintenance requests, or do not reside in the building or there is no owner’s association in place to make decisions on works required to the building.
There are many benefits of having a property factor in place, and we have listed some of these as follows:
Hassle free maintenance
We expertly arrange communal repairs and maintenance, with cost divisions accurately determined and appropriately invoiced based on your Deed of Conditions. Our staff performs meticulous property and building inspections, proposes necessary repairs or improvement works to the shared structure, and liaises with contractors to ensure top quality maintenance and repair tasks.
We also manage the arrangement of communal buildings insurance, ensuring accurate cost division and precise invoicing to each owner. Beyond these services, we generate accounts and billing statements for owners and the building, providing a transparent view of all transactions. However, the list is not exhaustive and offers only a general overview of the services we provide at Factors Direct related to common repair issues.
Prevent disputes with neighbours.
By appointing a factor, it means that both owners and contractors can have a peace of mind when it comes to repair and maintenance work. Self-factoring can often lead to disputes with owners who don’t do their share or refuse to co-operate in managing the communal areas. Additionally, it’s often that builders are reluctant to work with self-factors in the fear that they won’t get paid due to poor admin/payment systems. A factor is important for overseeing this work and ensuring that both owners and contractors are happy with the outcome. Factors are experienced in mediating should there is a dispute.
Provide added value services.
Some property factors go over and above their service terms and conditions to ensure that the property is maintained effectively. At Factors Direct, we are a family-run business with a heritage in all thing’s property. Our focus is on lasting, quality client relationships and providing a highly tailored service so our client’s needs are always met. Our team excel in client liaison, we aim to be highly responsive to repairs whilst showing consistent communal maintenance to improve the building and heighten its value. We are on call 24/7, we regularly inspect your property to ensure we are proactive to maintenance issues to ensure repairs are not larger than they need to be. Our trusted team of contractors are on hand, so we don’t have long waiting times for repairs to be carried out.
MODERNISING THE PRACTISE OF FACTORING ONE POSTCODE AT A TIME, EVERY BUILDING DESERVES A FACTOR THAT IT LOVES.
Get in touch today, switching factor has never been easier!