Frequently asked questions: property factoring
A property factor is an agent who manages common property for residential use.
The Property Factors (Scotland) Act 2011 describes a Property Factor as:
- A Person who, in the course of that person’s business, manages the common parts of land owned by two or more other persons and used to any extent for residential purposes.
- A local authority or housing association which manages the common parts of land used to any extent for residential purposes.
Services received by homeowners, which can include the management of common parts used for residential purposes. This includes maintenance, your share of the ongoing cyclical maintenance, cleaning or organising necessary repairs to scheme property such as the roof, exterior walls.
In Scotland, there are a number of tenement blocks that have areas with shared ownership, some owners have chosen to maintain these themselves, this is called self-factoring. Self-factoring can lead to conflict between owners who do not maintain their share of costs and maintenance.
A property factor is there to manage areas of common interest effectively. The property factor can act as a point of contact for minor repairs and replacement of common fittings, organising new works and aiding owners in a tenement.
Repairs to your own property unless damage is caused due to a failure of a common part i.e. communal water pipe.
The property factor is not responsible for arranging building insurance for the tenement. The Tenements (Scotland) Act 2004 sets out owners’ responsibility to obtain building insurance and the “prescribed risks” that are to be covered.
This area is out with the property factors remit, please contact Police Scotland or the Anti-Social Behaviour team on - 0800 0510434
No, our service agreement is with the homeowner. If a property is let, we require a correspondence address for the owner.
Repairs can be reported by calling our 24 hour service on 03000 200 292 or email firstname.lastname@example.org
Emergency or urgent repairs are those which left unattended could cause risk to life. Emergency repairs are also those that could cause major issues, this could include the structural integrity of the building, a danger to public health or something that compromises the security of the building. Due to the nature of emergency repairs these will be carried out without prior consent, owners will be advised as soon after the event as possible that such a repair has been carried out.
Emergency repairs can be reported by calling our 24-hour service on 03000 200 292.
The current management fee is £84 (inclusive of vat) per annum, per flat to cover the costs of the day to day factoring service this includes raising invoices, staff, annual building inspections, arranging repairs and maintenance on behalf of homeowners. The management fee is charged to all property owners.
At present the Property Factor does not use a float or sinking fund.
Sinking fund – is an amount of money set aside to cover for future works on common areas of the property for example a lift replacement.
Float- An advance payment which is stored in a separate bank account for the factored building which is used for repairs and maintenance.
These services are currently being considered to assist owners with upcoming major repairs.
You can search the Property Factor Register to see if your property is factored.
To contact the Property Factoring Team, please use the following contact details:
Phone: 01224 522900 or 01224 522914.
Write to: Aberdeen City Council, Marischal College, Business Hub 6, First Floor South, Aberdeen, AB10 1AB