Factoring

 

A property manager is also known as a 'factor', which is the traditional term for a property manager in Scotland.

 

The work of property managers in Scotland usually includes organising repairs as well as maintaining and improving common areas and the administration of common buildings insurance (where applicable). The factor typically manages the cleaning of common areas in buildings, such as stairwells and also looks after external areas that are jointly owned, such as gardens. The private sector, local authorities and registered social landlords provide property management services.

 

You may live in a development that has an appointed factor. The conditions for appointing and replacing a factor are laid down in the Deed of Conditions, which you sign up to when you buy your property. If you do not have a copy of your Deed of Conditions, then the solicitor who acted for you when you purchased your property should have a copy.

 

If you live in a managed development that involves common areas Abbey Forth Property Management Limited can arrange and manage the following services:

 

  • Garden/ground maintenance.
  • Cleaning services.
  • Repairs/improvements.
  • Common buildings insurance.
  • Liaison with residents/owners associations.
  • Tender for maintenance contracts.
  • Manage a development's finances through an owners account.

Q. Who do I contact if I have a query regarding maintenance or repairs?

 

A. You will have a designated Property Manager who will be happy to visit with you or communicate by phone or e-mail if you prefer.

 

Q. How will the maintenance of the development be managed?

 

A. We have a selection of contractors that are used for maintenance and emergency repairs. Their service levels and costs are regularly reviewed to ensure they provide and meet agreed service levels.

 

Q. Will there be inspections of the maintenance worked carried out at the development and how often?

 

A. Each development will be visited at least once a month and we will endeavour to visit when maintenance contractors are on site or have recently completed a visit. We will make additional visits if required.

 

Q. How often will I have to pay my maintenance charges?

 

A. This is set out in a legal document known as the 'Constitutive Deed of Conditions'. The deed is unique to each development and usually states that payment is made every quarter, six months or annually.

 

Q. I have made a separate payment called a 'float'. What is this?

 

A. The float is an amount of money paid by each owner and held by Abbey Forth Property Management Limited in a client account to cover the cost of maintenance expenditure. This 'float' is paid when you take ownership of your property and is paid via your solicitor, the developer or direct to AFPM Ltd.

 

Q. How do I pay?

 

A. You can pay by cash, cheque, debit or credit card. You can also pay online via our website, where you will receive an automated receipt.