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Factoring Fee - living in a flat
joolski_2
Posts: 10 Forumite
Hi there,
I have been living in my flat for over 7 years and the company that factor our building of 9 flats is 'Ross and Riddell. When we bought the flat 'Ross and Liddell':eek: were named in the title deeds as the factors.
I feel that they are useless at just about everything, they managed to get the communal stairwell cleaned once a week and we have to pay our building insurance to them also. My monthly direct debit to them has always been very expensive and seems to have increased year on year, it has now reached payment of £85.00 per month which I feel is excesive.
Does anyone know what options I have as I would love to ditch them??
Help,
joolski:eek:
I have been living in my flat for over 7 years and the company that factor our building of 9 flats is 'Ross and Riddell. When we bought the flat 'Ross and Liddell':eek: were named in the title deeds as the factors.
I feel that they are useless at just about everything, they managed to get the communal stairwell cleaned once a week and we have to pay our building insurance to them also. My monthly direct debit to them has always been very expensive and seems to have increased year on year, it has now reached payment of £85.00 per month which I feel is excesive.
Does anyone know what options I have as I would love to ditch them??
Help,
joolski:eek:
0
Comments
-
Hi there,
I have been living in my flat for over 7 years and the company that factor our building of 9 flats is 'Ross and Riddell. When we bought the flat 'Ross and Liddell':eek: were named in the title deeds as the factors.
I feel that they are useless at just about everything, they managed to get the communal stairwell cleaned once a week and we have to pay our building insurance to them also. My monthly direct debit to them has always been very expensive and seems to have increased year on year, it has now reached payment of £85.00 per month which I feel is excesive.
Does anyone know what options I have as I would love to ditch them??
Help,
joolski:eek:
As I understand it, you can get rid of them at the end of the contract, but obviously that depends on when the contract ends (normally they are two to three years, I think).
First thing to do is a get together with the other owners & decide if this is the route you want to go down. Set up a residents' association so that you (or the chairman) are doing things in their name, for the entire block.
Then, a month or two before the end of the contract, call up several factoring companies including Ross & Riddle & say that you are tendering for bids to be the factor for your building & see what prices come back. Then change.
I'm not sure how you find out about the contract though - I only know this from my Dad doing it on his estate (housing, not country)."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0
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