Dealing with factors (property managers)

[Viva_Palmeiras]

We live in flats that are by maintained by factors
They manage the upkeep collect bills etc
However this one has on several occasions failed to collect and allowed quite substantial unrecoverable debts to arise. By the title deeds were all liable but the thing is we don't know who is or is not paying surely the factors gave some responsibility?
Anyone dealt with similar
I won't reveal the name but I'd say to those of you buying a property to checkout the factors as part of your consideration when buying

[truehibernian]

Not knowing the full circumstances I would say one of your options is to examine if any of the owner occupiers qualify for legal aid (many wont obviously due to income bands). If one does, raise a civil action against the factors concerned (seek legal advice first clearly). Their defence or legal argument will be that you cannot "sack" them, or replace them, until they have recovered all monies due to them. However perhaps you can successfully argue inefficiency, poor quality workmanship (repairs etc), excessive fees, poor management of property, poor communications, etc. Clearly you could collectively add weight to this by providing statements and evidence. Factors for me are a licence to print money. I am pretty sure if you google there was a proposed Act of Parliament regards the subject.......whether it has been progressed you would need to check. Contact your local MSP though and they will take up your case......saves you cash and time.

[Viva_Palmeiras]

Not knowing the full circumstances I would say one of your options is to examine if any of the owner occupiers qualify for legal aid (many wont obviously due to income bands). If one does, raise a civil action against the factors concerned (seek legal advice first clearly). Their defence or legal argument will be that you cannot "sack" them, or replace them, until they have recovered all monies due to them. However perhaps you can successfully argue inefficiency, poor quality workmanship (repairs etc), excessive fees, poor management of property, poor communications, etc. Clearly you could collectively add weight to this by providing statements and evidence. Factors for me are a licence to print money. I am pretty sure if you google there was a proposed Act of Parliament regards the subject.......whether it has been progressed you would need to check. Contact your local MSP though and they will take up your case......saves you cash and time.

Thanks I'm thinking Margot might just be the ticket...

[Future17]

We live in flats that are by maintained by factors
They manage the upkeep collect bills etc
However this one has on several occasions failed to collect and allowed quite substantial unrecoverable debts to arise. By the title deeds were all liable but the thing is we don't know who is or is not paying surely the factors gave some responsibility?
Anyone dealt with similar
I won't reveal the name but I'd say to those of you buying a property to checkout the factors as part of your consideration when buying

I work for a complaints organisation and a substantial amount of the complaints we receive (and in many cases do not have jurisdiction to deal with) concern the activities of property factoring companies.

At present these companies are completely unregulated. There is nothing to stop them not charging you for 5 years and then presenting you with a lump-sum bill.

The other concerns are:

If they're not collecting fees from anyone and something happens which requires a major bit of work to be carried out in the building, they may not have the money to pay for it.

Also, there have been cases when property factoring companies have attempted to recoup money they are owed from proceeds of sale when you sell your property - often with no prior warning.

As truehibernian has said, there is a Bill in the Scottish Parliament - Property Factors (Scotland) Bill - at the moment, proposed by Patricia Ferguson MSP, which aims to "establish a register of property factors and require property factors to be registered; to make provision in relation to the resolution of disputes between homeowners and property factors; and for connected purposes". If memory serves, the Bill was introduced during the last session of Parliament but didn't progress before the session ended (meaning it is discontinued).

The Bill is only at Stage 1 (of what is essentially a 3 stage process), which is basically the initial consultation stage, but this also involves the Bill being debated in Parliament and your MSP can put forward your views at this time. The deadline for this stage is 10 December 2010 so it is well worth acting now and sending your views/details of your experience to all the MSPs who represent you, or even better actually make an appointment to see them.

You can find out who your MSPs are at the link below:

http://www.scottish.parliament.uk/msp/membersPages/MSPAddressPostcodeFinder.htm