Factoring Charges and What They Cover

FACTORING CHARGES

The Association will annually assess the costs of the factoring service to ensure that the charges cover the actual expenditure incurred.  Owners will be consulted on the proposed annual review and will receive at least 4 weeks’ notice of any increase to be applied from 1st April each year.  All charges will be in advance, except any reactive repairs which will be chargeable in arrears, i.e. once the Association has received the relevant invoices. 

THE MANAGEMENT FEE

This covers staff time in providing the factoring service, e.g. managing factoring accounts, arranging tenders and liaising with contractors in regard to services provided, arranging insurance, raising invoices, postage, newsletters, general admin and advice, and liaising with solicitors in regard to re-sales.  The charge is based on the cost of dedicated staff time to do all of this and the charge increases in line with the % wage increase applied each year. 

BUILDINGS INSURANCE & OTHER SERVICE CHARGES

Different contracts are reviewed at different times, e.g. annually or bi-annually, but the charge to you is always based on the actual cost paid by the Association, e.g. Buildings Insurance which is reviewed annually and other services as listed below:-

• Stair-cleaning is done on a weekly basis

• Open space maintenance covers backcourts, other common areas, including grass-cutting, tree-pruning and litter picking

• Bin store maintenance provides a fortnightly cleanout

• Bulk uplift involves the weekly pulling through of bulk for uplift by the Council

• Communal Electricity Supply for all lighting and door entry control systems within common closes which is charged by Scottish Power per close and split accordingly. 

• Stair-lighting within all common closes is maintained by Glasgow City Council, who invoice annually per close and the charges are split accordingly.   

OPTIONAL GARDEN MAINTENANCE SCHEME

Landscape maintenance covers tenement backcourts and other common areas, but individual gardens are a resident’s own responsibility.  The Association offers an Assisted Gardening Scheme for tenants who cannot manage to maintain their gardens and have no-one else living with them who can.  For owners and sharing owners that we factor, we also offer an Optional Gardening Scheme, for a small charge.  If you would be interested in this service, please contact the office for more details.