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Property Factors Act - the deadline is looming!!

Property Factors Act - the deadline is looming!!

For all of those Registered Social Landlords (RSLs) who provide property management services, the deadline of 1st October 2013 to provide your factored owners with a written statement of service is drawing near.

Many housing associations have been working throughout the summer months preparing their bespoke written statement for issue. However some RSLs are still in a quandary as to whether or not they do indeed provide factoring services, what services they provide and what the costs of that service should be.

We have

Ensure your factoring paperwork is legal

Ensure your factoring paperwork is legal

As a factor, how can you ensure your factoring paperwork is legal. Should you use deeds of conditions or a written statement of services?

The establishment of the Homeowner Housing Panel (HOHP), provides a forum for homeowners to challenge whether their property manager / factor has failed to carry out their factoring duties, or breached the Code of Conduct. The most important decision from the HOHP thus far can be found in a recent case brought by Mr Park against Hacking and Paterson  (the Factor).

Home Owner Housing Panel in Scotland

Home Owner Housing Panel in Scotland

The Home Owner Housing Panel (HoHp) was established by the Property Factors Act 2011 to act as a dispute resolution mechanism for problems between homeowners and their factors. The HoHp are now actively receiving complaints from homeowners alleging that their property manager has failed to meet their factoring duties or has failed to comply with the Property Factors' Code of Conduct which is set out in the Act. Where a homeowner's complaint cannot be resolved through the factor's own complaints procedure a homeowner can make