Printer Friendly

Ask the experts.

Q I'M NOT happy with the factors for my tenement block and am going to ask my neighbours if they are interested in self-factoring and putting money into a joint account every month to cover maintenance costs etc. Could you offer any practical advice and if you think there will be problems terminating an agreement with the current factors?

A YOU'RE not alone in feeling the service you get could be better. To change the current factoring arrangement, you will need to check your title deeds and see what they say about common repairs and how these are to be managed. If the deeds do not cover this, the statutory Tenement Management Scheme will apply.

Generally speaking, all that is necessary is for a majority of owners (one vote per flat) to meet and agree to move to self-factoring.

A maintenance bank account can be set up to hold funds to cover repairs, insurance premiums etc and sets out arrangements as to how the account will operate. Your solicitor will be able to provide detailed advice. But be aware that, as the person raising this, you may find that the other owners will expect you to take responsibility for all administrative arrangements.


JANETTE WILSON Law Society of Scotland
COPYRIGHT 2009 Scottish Daily Record & Sunday
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Features
Publication:Daily Record (Glasgow, Scotland)
Date:Feb 28, 2009
Previous Article:Play it safe in the home; Landlords are urged to keep homes safe and sound, reports KAREN STEWART.
Next Article:Moving up in the world; MIDDLEBANK RISE DUNFERMLINE, FIFE When Anne Bury discovered she was expecting twins, it was time for her family to move to a...

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters