We have included a few of the questions we get asked on a regular basis to try and help you understand Property Factoring.

If your enquiry is not answered here please do not hesitate to contact us and we will be only too happy to provide an answer.

A Factor, also known as a Property Manager, is an individual or company who has the responsibility for managing properties, estates and open space. Factoring is a complex business requiring structure and up to date knowledge of statutory requirements for the various legislations. A Factor’s has a number of roles and responsibilities that contribute to role in the smooth running of properties with common areas and shared amenities.

Govan Housing Association Ltd’s Property Factor Registration No is PF000200.

A Factor’s role is to act in the interests of residents both in terms of the various legislations and in the upkeep of all common elements that relate to a property.

We have an in depth understanding of these requirements and work to a high standard for the benefit of all our customers.

As well as property maintenance, a Factor’s additional role is to manage the accounts of the property. This involves making sure that each of the owners fulfills their individual financial commitments to the maintenance and upkeep of the property.

What this means for owners is that:

  • All the maintenance, repairs and gardens or grounds is taken care of in a smooth and uninterrupted way;
  • Owners do not need to be involved in day by day repair and maintenance decisions; and
  • Individual owners are not in a position where they have to chase other owners for unpaid bills or financial contributions for the building’s upkeep.

A Factor Float is a factoring deposit. This is billed to you on the purchase of your property if the title deeds allow or it forms part of the terms and conditions. It is used to help balance the development account until invoicing begins. If you sell your property, generally the factor float will be refunded in a final bill, less any monies owed.

A deed of conditions is a legal document that forms part of the title deeds to a building or a group of buildings. It applies to the common areas. The deed of conditions states in black and white the detailed rights, duties and obligations of every owner within the building. It identifies the common areas and provides arrangements for the management and repair of the property, the division of costs between owners and helpful procedures to resolve disputes.

Each owner in a building or development is jointly liable for communal charges. Your solicitor should notify you of your responsibilities and liabilities with all the other properties with regards to these charges.

Our factoring service is tailored to the individual needs of the property and our customers. A breakdown of fees and services can be found within your written statement of service or factoring agreement. A breakdown of your factoring fees can be provided by contacting the factoring department.

The Factoring Management Fee is our administration charge for managing your development or property. Some examples of what the management fee covers are:

  • Liaising with contractors and tendering for the best service;
  • Produce proposals, obtain quotes, etc. for proposed works;
  • Arrange day to day repairs;
  • Issue accounts to owners;
  • Maintaining owners accounts;
  • Provide credit control to ensure that everyone pays their share;
  • Have a dedicated factoring team to respond to your queries; and
  • Liaise with electricity companies to make sure all charges are accurate and fair.

Individual insurance does not always cover common areas. Let’s say your building has suffered a fire or a flood or common areas were vandalised, by having a block policy you can be assured that all parts of the property or development are covered. What’s more, the additional benefit of a block policy is that the claim is dealt with as one claim. This means there is only one excess payment and it is managed under one loss adjuster and one contractor. Generally, this approach works out cheaper for everyone.

Individual insurance does not always cover common areas. In terms of the deeds for your property, you may be obliged to contribute to the cost of the common buildings insurance policy. You may want to contact your private insurers, as it is likely that they will consider a premium refund once you explain your obligations as a joint owner.

Yes. We are employed as your agent, which means we work for you. We believe in giving you every opportunity to tell us what you need with regards to communal services. Every property is different, so we aim to be flexible and meet the tailored needs of our customers. If you would like to enquire about a service, please contact the factoring team on 0141 440 0308 or at