Factoring Services

If you own your home
We provide a factoring service for privately owned residential and commercial properties within the Association’s areas.  Details of your rights and obligations as an owner can be found in the following legal documents, namely:

• Title Deeds / Deed of Conditions
• Disposition

These legal documents outline your shared responsibilities for the upkeep, management and maintenance of the common elements that belong to the property.  Even if you live in a house rather than a tenement flat you may still have a responsibility for common maintenance within the feuing area.  If you require further information on this you can contact our Factoring Officer at our Head Office for a copy of the Scottish Executive publication “We are all Responsible” which offers general advice on responsibilities in relation to repairs and maintenance.  Our Owner's Guide to Factoring Services is also available.  Alternatively, you should seek independent legal advice.

Invoices
Thenew Housing Association issues two six-monthly Factoring invoices which may include:

• rechargeable common repairs
• recurring service charges (close cleaning, stair lighting maintenance and electricity charges, backcourt cleaning)
• buildings insurance (charged annually)
• landscape maintenance
• cyclical maintenance
• factoring administration fee/factoring management fee is also charged as a proportion of each invoice.  We have produced a number of leaflets explaining these charges and how they are calculated which are available at your local office.

Methods of Payment
If you receive an invoice it will be due to be paid within 28 days of issue.  Payment can be made by cheque, owners swipecard or by our Regular Payment Scheme (where agreed, direct debit payments are made by you and a 10% refund is given on the annual Factoring (Administration) Fee).   Contact our Factoring Officer for further details.

Selling your Property
It is important as an owner that you let us know at least one month before the date of sale.  A final invoice will be sent to you and charged on a pro rata basis.  Please note that all common repairs are charged to the specific owner at the time the repair was instructed.

Further Information
For further information on ANY matters relating to our obligations as factor or your obligations as an owner, please contact the Association’s Factoring Officer who is based at our head office at 83 Green Street. Various leaflets on the above subjects are also available from all our area offices.