Appointing a factor

Miss165

I live in a block with 6 flats (Mine being 1 of them).

At the moment we don't have a factor or any kind of common fund. I really think we need one and want advice on how to best approach this.

I read online about having a meeting so everyone can agree to appoint a factor, but to be quite honest, I don't want strangers in my house!

I've considered setting up a communal fund, with me and another flat owner having access so everything is kept above board. But I don't want to end up chasing people for money, and dealing with the problems when someone inevitably doesn't pay!

If I wrote a letter to my neighbours, how should I word it? Is there like a standard letter I could use? I'm thinking of putting a slip at the bottom to be returned to me if they agree/disagree.

Thoughts?

DoaM

As you mention factor, I presume you're in Scotland.

We used to self-factor, via a residents committee. (I was chairman). All was OK to start with, but as time went by it got harder and harder to get people to pay their share of costs for maintenance and insurance (for common areas).

In the end we arranged for a factor to give a presentation to a residents committee meeting, we voted and then appointed the factor - it ended up costing each property roughly double what it was costing when we self-factored. (Having a 3rd party company doing this gives more ability for them to chase non-payers).

After a period (a few years), the Council agreed to take over ownership of certain common areas, and residents agreed to maintain other common areas (e.g. verges) bordering their own properties. We no longer have a factor.

Miss165

Thanks for the quick reply!

Yes, I'm in Scotland.

I can just foresee some pretty big jobs, thinking roof works or the front door needs fixed. Not massive probably, but definitely needing a fair contribution from each flat. I know it will cost more, but the alternative is a repair needing done and no one stumping up the cash for it!

It's difficult

scottishblondie

I wouldn't form a resident committee, you need everyone to co-operate all the time. It is a little more expensive to appoint a factor but it saves you the hassle of being the enforcer.

You will of course need the agreement of all owners to do this - I'd start by sending a letter and then move on to arranging a meeting (in a local pub maybe if you don't want them on your flat) if there is any interest in the idea.

If you get the to the point of actually looking for a factor, see if you can get a word of mouth recommendation. There are some really awful ones out there and if you appoint the wrong firm then you have to go through the whole process again to get rid of them and appoint another new one!