Self Factoring - Advice

Pixie5740
Pixie5740 Posts: 14,515
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I live in a building which has three flats. All three flats are currently owner-occupied and were all bought within the last 18 months. There is no factor. I believe that in Aberdeen it's common for there to be no factor in older buildings which was pretty evident when I was viewing flats to buy, some of the communal areas were bloody awful.

Since there are only three of us I thought that self-factoring would be the way to go. There are a couple of maintenance issues that need addressing. The home report from my home noted that the guttering needed clearing and over a year later it still does. A skylight in the communal hallway leaks when there's heavy rain. Being on the top floor I would like a communal entry system installed but I'm not sure if that will fly with the other owners.

Does anyone have any tips for self-factoring? I know what my title deeds say I am responsible for maintaining and I've read the Scottish Government's Common Repair Common Sense guide as well as the Tenement Management Scheme legislation. Are there any good sources out there? Is it worth speaking with a solicitor to find out what's what?

I'm happy to take the lead, arrange quotes, etc but I don't want to be out of pocket for months chasing my neighbours for money.

I've popped notes through my neighbours' doors suggesting we all meet up.

Comments

  • Nosht
    Nosht Posts: 744 Forumite
    Shop about for quotes from different Factoring Firms, they can be expensive & subject to regular annual increases for no apparent reason.
    Present the other residents with some options & stress the importance of keeping the building in good order as if it becomes dangerous for any reason, compulsory repairs will be expensive & forced upon you all, usually by the Local Council Building Inspectors.
    Regards,Nosht.
    Never be afraid to take a profit. ;)
    Keep breathing. :eek:
    Just because I am surrounded by FOOLS does not make me wise. :j
  • Pixie5740
    Pixie5740 Posts: 14,515
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    Ideally I would like to avoid having a factor and would prefer to manage the building ourselves based on previous experiences with factors in Glasgow (Yes Hacking & Paterson I mean you). I think it could work as we are all owner-occupiers and there are only 3 flats. If we were talking 6+ flats with a mixture of owner-occupiers and let properties then I think it would be worth hiring a factor.

    Since popping the notes through my neighbours' doors (they were out) I've spoken with one neighbour who thinks that getting together would be a good idea and is keen to have a secure entry system fitted as well. I think the owners of the other flat are away just now so hopefully when they get back we can get together and have a chat.
  • missile
    missile Posts: 11,678
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    Good idea and with only three you "should" be able to reach agreement.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
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