So you’re looking to change your property factor? You’ve been chatting to neighbours and discovered that they, like you, aren’t overly impressed with your current property factor.
In fact, you’ve been dissatisfied for a couple of years now with common grumbles centring around unclear fees and fees that you consider too high, and irregular common ground tidy-ups/gardening work.
You didn’t get a response when you sent an email recently and when you called the office to speak to someone, you were told they’d call back.
Guess what? They didn’t.
So, how do you go about changing factors?
If you’re wondering what a factor is or should be doing, you can read our last blog post where we talk you through it.
First off, it’s not as complicated as you might think – don’t approach it with the view that making the change is going to be too much hassle.
Your current factor is clearly failing to meet your expectations, otherwise you wouldn’t be considering moving. Taylor & Martin will guide you through the process to make it as easy as possible.
However, there are a few caveats which are outlined in the questions below.
Do I need all my fellow property owners to agree?
Not necessarily. It will help if most of the owners agree that it’s time to change but the key caveat is that the requirements of your Deed of Conditions are met.
This sounds complicated?
Look at it like changing your bank account or switching energy supplier. Often, it’s the thought of doing it that puts people off – even when they know they’re not getting value for money or a good service.
That’s where we come in. Taylor & Martin will check your Deed of Conditions. This will tell us if there are any restrictions on your development when it comes to appointing/replacing a factor.
Crucially, the Deed of Conditions may stipulate the number of owners who need to agree to a change of factor taking place.
But we really just need a few pieces of key information to enable us to provide a management proposal.
Do we have to meet with you?
Yes, we’re a people company and we would certainly want to forge a personal connection with some of the owners.
We’ll organise this at a time to suit you although as we’re still emerging out of lockdown, we will most likely do this via Zoom. Whichever form the meeting takes, it will allow us to introduce ourselves to you, present our proposal and give you a chance to ask us questions.
Do we have to inform our current factor of our intention to change?
It would be good manners to do so and it’s always sensible to keep proceedings polite and courteous. Let’s face it, no-one wants any unpleasantness.
That said, it could be that your Deed of Conditions makes this a requirement. We can help you with this.
What are the most common property management problems?
It always depends on the individual owner – what seems like a big deal to you may not even register on your neighbour’s radar.
There are lots of reasons but common ones include owners not feeling that they are getting value for money from their factor. Perhaps the bills are difficult to fathom, or the regular gardening/tidy-up work doesn’t seem to be so regular these days.
A very common issue in our experience is lack of communication. Sometimes, people just can’t make contact with their property factor. They send an email and don’t get a reply, or call up yet still don’t manage to speak to someone about their problem.
Why should we choose Taylor & Martin?
Our property management service is hands-on and personal – that sums us up as a company in everything we do.
At Taylor & Martin, we also understand that different owners and different types of property require different factoring needs.
So, if your development is a block of flats with communal internal areas, residents’ car parking and some shrubbed areas, the factoring requirements will differ quite radically from an estate with common grassed areas, children’s play facilities and mature trees that need regular maintenance.
Quite simply, there is no one size fits all when it comes to property management.
I’ve heard that there is a Code of Conduct for property factors – is this correct?
Yes. In fact, the revised Code of Conduct is due to take effect from the 16th of August this year.
The code, under the Property Factors (Scotland) Act 2011, sets out minimum standards of practice for registered property factors and is designed to protect property owners.
OK, we want to speak to you. What do we do?
Give us a call or drop us an email – Taylor & Martin will guide you through the process and take care of everything.