Self-Factoring or Factor Recommendations?

I am currently in the middle of a dispute with my building's factor and I have applied to the Homeowner Housing Panel to resolve it. Regardless of the outcome, I'd like to end the arrangement with them. I live in a tenement with eight flats. Some of them are rented, but I'm fairly sure I can get agreement of at least four other owners required for a majority, even if absent landlords aren't keen to engage.

I've done a fair bit of research and I'm struggling to find another factor people seem happy with. I'm considering proposing self-factoring and seeking the advice of a solicitor to help us put an agreement in place, set up a bank account, etc. Can anyone either recommend a factor or tell me about their experience of self-factoring? The main issues with the current factor have been extensive delays in repairs, lack of communication in response to queries and complaints and failing to act on a majority decision.

I'd also like to hear from anyone who has applied to the HOHP. I've spent more than a full working day (during my holiday) compiling evidence, including over 50 pages of correspondence, checking and re-checking to make sure my application is competent. This is an addition to the time I've spent over the last year and a half chasing up work and complaining and often doing their job for them at times by contacting neighbours to remind them about repair payments being overdue. Worth my while?

Comments

  • roger_c
    roger_c Posts: 320 Forumite
    First Post First Anniversary Combo Breaker
    I'd recommend Newton Property Managers. We've had them for the past 4 years and, on the whole, they've been excellent. We each pay ~£30 per quarter in management charges and then anything else is on top of that.
  • halfajack
    halfajack Posts: 89 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    Thanks. I'll look them up.
  • GaleSF63
    GaleSF63 Posts: 1,535 Forumite
    First Anniversary First Post Photogenic Name Dropper
    JBG Forsyth in Glasgow.

    We have used them for about 15 years and they've been very good and I've heard no complaints from anyone.

    We have a management fee of about £20 a quarter per flat (there are about 25 flats).

    We also have a contingency fund - about £30 a quarter I think. It makes life simpler when things need doing.

    The flats are less than 20 years old so there probably aren't so many contentious - and expensive - issues yet!
  • MCGONIS
    MCGONIS Posts: 699 Forumite
    Hello. I know that Glasgow Housing Association will offer a factoring service. They come and meet the owners and discuss what you want.

    http://www.your-place.net/content/default.asp?page=s22

    They are my mum and dad's factor and seem fine. I don't think many people really like their factor. I had Macfie & Co based in the South Side in a previous property and I was not keen on them.

    I stay in an unfactored property in the East End and the idea is I pay 25%, upstairs pays 25% and the Pharmacy below pays 50% of any bills.

    The close could be doing with painting and I don't think the Chemist is willing to pay for this, so I guess I will have to do it as my neighbour seems uninterested as well.

    I have not had too many bills since I moved here thankfully. I just put £50 a month into an account and treat that as my "factor's bill" money for when something does go wrong.

    I had never heard of the HHP so thanks for that for future reference. Hope you get your problems sorted. There are lots of good things about living in a tenement. But the factor/neighbours can be one of the not so good.

    All the best....
  • jennifernil
    jennifernil Posts: 5,580 Forumite
    First Post First Anniversary
    Another vote for Forsyth, they have been managing our daughter's building in the West End for about 10 years now without problems.
  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
    First Post First Anniversary Combo Breaker
    It's a tricky one. We used to use Hacking and Patterson and got rid of them as they were so bad. Then we hired Yourplace, as mentioned above, and ended up having to get rid of them too due to poor admin, failed promises and bad business practice.

    On another site, one where I know the residents, they have just sacked Apex, Kirkintilloch. So not a glowing recommendation there either.

    LPM have been decent enough and take things seriously, including service levels. Not the cheapest but not going to try and con their clients.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards