Fees and Charges
How costs are shared
The core services (apart from buildings insurance) we provide are recharged to you according to your share, as defined in your title deed/deed of conditions. Your share is detailed on the letter enclosed with your written statement. Any additional services provided are recharged as noted in your written statement
This represents the annual cost of administering and carrying out various property management duties such as the regular inspection of properties, organising day-to-day repairs and programming and implementing cyclical maintenance. It also covers the preparation of quarterly factoring invoices, arranging buildings insurance, taking action to recover unpaid monies and dealing with enquiries.
The management fee is reviewed annually with effect from 1st April each year. We will notify you in advance of any changes to the management fee.
If you participate in the direct debit discount scheme, you will receive a 5% discount on the management fee element of your quarterly factoring invoices.
It is essential that all buildings are appropriately insured. As such, buildings insurance is automatically arranged for all new owners and charged through their quarterly factoring invoices.
If you wish to arrange your own buildings insurance, you must provide a copy of your policy schedule, in order to allow us to cancel insurance arranged, on your behalf. We carry out an annual check to ensure that owners with their own buildings insurance are adequately insured.
You should be aware that your cover may be jeopardised if your factoring account is in arrears.
Invoices are issued every quarter, as undernoted:
|1st Quarter||1st April to 30th June|
|2nd Quarter||1st July to 30th September|
|3rd Quarter||1st October to 31st December|
|4th Quarter||1st January to 31st March|
Invoices are sent by post to your correspondence address.
There are several options available, to make payment as convienient and easy as possible. Please refer to the section entitled How to Pay for payment options.
All factoring invoices are payable within 14 days of issue. Where accounts are not settled timeously, or a satisfactory arrangement agreed to clear sums due, action will be instigated, in accordance with our debt recovery procedure, which is available by clicking here.
We also employ the services of a Sheriff Officer to recover unpaid monies. Where we require to use this service, an administration fee will be charged.