How To Manage A Factring Factr

Transcription

1 MILNBANK PROPERTY SERVICES LTD WRITTEN STATEMENT OF FACTORING SERVICES INTRODUCTION These are the terms and cnditins fr the prvisin f a factring service t wner ccupiers by Milnbank Prperty Services Limited, incrprated under the Cmpanies Act (Registered Number SC336169) and having ur Registered Office at 53 Ballindallch Drive, Glasgw, G31 3DQ and ur Prperty Factrs Registered Number is PF Milnbank Prperty Services Limited (MPSL) is a registered prperty factr as defined within the Prperty Factrs (Sctland) Act As a registered prperty factr, MPSL is legally required t ensure cmpliance with the Cde f Cnduct prvided fr in this Act. The purpse f this dcument is t detail the rle f Milnbank Prperty Services Ltd as Prperty Managers n behalf f wner ccupiers. Milnbank Prperty Services Ltd is a whlly wned subsidiary f Milnbank Husing Assciatin. It is the Cmpany s respnsibility t arrange and versee the general upkeep f factred buildings, ensure that cmmn parts are maintained t a high standard and that all necessary repairs are carried ut. As required under the Prperty Factrs Cde f Cnduct, this dcument cnstitutes a Written Statement f Services setting ut the arrangements in place between MPSL and hmewners. (1) AUTHORITY TO ACT MPSL perates as prperty factr n behalf f the c-wners due t either: Operating as Factr by custm and practice with n frmal appintment existing Appinted as Factr by the develper f a prperty Appinted as Factr by a majrity f wners (2) MANAGEMENT FEE CHARGE The Management Fee is the charge made by the Cmpany t cver the csts f managing yur prperty. The Management Fee will be reviewed annually t ensure it accurately reflects actual csts incurred by MPSL. The current yearly fee is VAT = The services prvided fr within the Management Fee cvers:- All prperty management administratin All cmmunicatin with wners including the issue f newsletters Arranging and mnitring f cyclical and majr wrks cntracts Open dr plicy fr wners t reprt repairs r discuss factring issues Administratin f Building Insurance, premiums and claims 1

2 Cpy invices free f charge Prperty inspectins and advisry service fr wners Pre and pst inspectin service fr specific repair and maintenance wrks Issuing factring accunts (six mnthly) Supplying infrmatin t slicitrs e.g. huse sales Debt recvery prcess Hlding clse meetings as required Stair cleaning service Clean cmmn landing windws Owners wh fail t clear their accunt by the 6 th r 12 th mnth f the date f issue f their factring invice, will be charged 5% interest n the ttal amunt utstanding. (3) DEPOSIT As at 1 April 2013 a depsit f is charged t all incming wners. This sum is refundable when the wner sells their prperty, prvided there are n utstanding arrears. In the case f an arrear the depsit will be ffset against it and any credit balances refunded t the wner. Depsits are separately accunted fr thrugh the Cmpanies cmputer cding system. When an wner sells the prperty, their Slicitr shall ntify the Prperty Managers f the date f sale and identify the successr t the wnership. (4) COMMON ESTATE SERVICE CHARGE MPSL prvides a fully cmprehensive estate management service, t ensure that the cmmn areas are inspected and maintained t the highest pssible standard. The Cmmn Estates Service Charge Cvers: Backcurt & Garden Maintenance Service (Breakdwn f schedule n page 10) Cmmn Estate Management Inspectins nce a mnth The current yearly fee is Vat = The Cmmn Estates Service Charge is reviewed annually by Milnbank Prperty Services Bard. (5) BUILDING INSURANCE The Cmpany perates a cmmn blck Building Insurance Plicy which cvers full re-instatement value. Owner ccupiers must participate and will be supplied with details n cmmencement f factring when purchasing their flat privately. Owners shuld nte that cver des nt include persnal effects, flr cverings, furniture, etc, and it is their respnsibility t ensure that they are adequately cvered in this respect by Husehld Cntents Insurance. The plicy runs frm 1 st April t 31 st March and will be autmatically renewed by the Assciatin annually fr as lng as we prvide factring services at yur address. The plicy is a blck plicy cvering all ur whlly wned and factred stck and is fully cmprehensive. The cver is based n the reinstatement value f the prperty (i.e. the cst fr the cmplete rebuilding f the flat r tenement 2

3 as a whle). This value is assessed annually in February/March by the Insurers when the premium is being reviewed. In cmparisns t peers (ther RSL s), ur claim numbers are mdest and in additin t, the Insurer is currently cmfrtable with the claims csts versus the premium. The Assciatin pays the premium in full t the Insurers. Owners are infrmed f the new premium in April each year by an insurance schedule which is sent ut alng with the April invice. The schedule prvides details n: wh the Insurers are, the plicy number, wh the lss adjuster is, amunt insured, annual premium and date f renewal. The premium is calculated by the rate determined by the Insurers and divided equally between all factred wners cvered in the plicy. All new wners are presented with a cpy f the insurance schedule at date f cmmencement. A cpy f the schedule is available n request. The Plicy is with Zurich Municipal and the present annual premium fr imprved prperty is fr apprximately 157,963 cver. The fllwing excesses apply t this premium: 100 excess fr all individual claims due t be paid by the wner 250 excess fr all cmmn claims due t be paid by the wners & divided equally between the wners 1000 excess where subsidence, grund heave r landslip has ccurred is divided equally between the wners The terms and cnditins f the plicy require that any lss r damage likely t be the subject f a claim be reprted t the Cmpany within 30 days. Failure t d s will result in the claim being declined by the Insurer s. Where wners have failed t pay their building insurance premium within the factring perid the Cmpany may: a) Nt prcess any private claims made by the wner. b) Where relevant, ntify wners lenders that the prperty is nt cvered under the Assciatin blck insurance plicy. (6) FACTORING ACCOUNTS Where the Assciatin perates as Factr by custm and practice with n frmal appintment existing wners will be inviced twice yearly (April and Octber) Where the Assciatin was appinted as Factr by the develper wners will be inviced yearly (April) Where the Assciatin was appinted as Factr by a majrity vte wners will be inviced yearly (April) Factring accunts will be sent ut April and Octber where applicable. Accunts will cntain details f :- a management fee, cmmn estates service charge, share f any cmmn repairs, cyclical maintenance charges, service charges, any private repairs and buildings insurance premium (April nly). Unless the prperty cncerned is cvered by ur Fixed Cst Factring Agreement the share f cmmn repairs charged in each tenement prperty will be in accrdance with the prvisins f the title deeds. 3

4 Owners are invited t inspect any relevant accunts at the ffice r alternatively, cpies are available n request free f charge. A flat fee f 50 + VAT will be charged t lending authrities requesting cpies f key dcuments in relatin t building cntracts. This fee cvers staff time, strage, phtcpying csts. Queries and disputes pertaining t factring invices shuld be ntified t MPSL within 14 days f the issue date. The Cmpany undertakes t respnd within 7 days f ntificatin this shuld be addressed t the Prperty Management Officer, failing satisfactin, the Directr will review the individual case. If the issue is still nt reslved at this stage, a letter shuld be sent t the Chairpersn f the Bard. A cpy f ur cmplaints prcedure is available n request r alternatively visit ur website where yu can dwnlad a cpy. (7) PAYMENT OF FACTORING ACCOUNT Owners are expected t pay their accunts prmptly. The date that the Cmpany receives payment r instalment is the date listed n ur bank statement - nt the date the wner makes the payment. Payment using yur Allpay card can be made at any utlet displaying the Paypint/Payzne sign r at any Pst Office at any time thrughut the year irrespective f whether an accunt has just been issued. A minimum payment f 5 per transactin can be made. Payments via instalments are permitted prvided that this has been agreed with the Prperty Management Officer and the sum cvers the current accunt, any utstanding building insurance premium r is intended t reduce any arrears utstanding. The instalment figure shall be reviewed at the cmmencement f each factring perid. A Direct Debit payment scheme is in peratin. Details can be btained frm the Assciatin s ffice. N fee will be charged fr setting up the Direct Debit, hwever, a fee f 10 will be charged in the event f nnpayment t cver the Cmpany s administrative csts. The Cmpany has the Chip & Pin facility t accept Card payments via the ffice r ver the telephne. Online payments can be made using yur Debit/Credit card. Payments by cheque shuld be made payable t Milnbank Prperty Services Ltd Cash payments can be made at ur ffice. (8) FACTORING ARREARS The Cmpany will always pursue wners wh fail t pay their accunts. A sequence f actins will be carried ut when an accunt is utstanding. Any expenses incurred frm legal actins will be levied t the wners accunt. 4

5 4 weeks - reminder 6 weeks - Sheriff Officers instructed t issue 7 day letter 7 weeks - Curt actin instructed Ptential Legal Actin (a) Payment Decree (1) Open Decree: The Sheriff awarding a payment decree which rders payment f the sums claimed tgether with interest and expenses. (2) Instalment Decree: The Sheriff awarding decree fr payment f the sums claimed by way f instalments f weekly/mnthly payments The Sheriff awarding a payment decree. (b) Wage Arrestment Enfrcement f the Decree (referred t at (a) abve) by way f deductins frm the debtr s salary, made directly at surce and paid by the emplyers in reductin f sums due. (c) Speculative Arrestment If the Cmpany des nt have emplyment details t carry ut a straight Wage Arrestment the Sheriff Officer will be instructed t implement a Speculative Arrestment t recver the utstanding balance frm the wner s bank accunt. (d) Rent Arrestment Legal actin will take the frm f the Sheriff Officer arresting the rent f the wner s subletting tenant. (e) Attachment If the wner fails t adhere t the payment decree, the Bard shall recmmend that an Attachment is carried ut. Sheriff Officers attend the premises f a debtr t value gds and then sell them t pay ff the debt. The Cmpany shall instruct the Sheriff Officer t enfrce the Attachment decree and ffset any mnies received against the factring arrears. (f) Instruct Ntice f Ptential Liability The Ntice is served n an wner either under the Tenements (Sctland) Act 2004 if the prperty is a flat r under the Title Cnditins (Sctland) Act 2003 if the prperty is a huse. The Ntice lasts fr three years frm the date f registratin and can be renewed by being registered again befre the expiry date. (g) Serve an Inhibitin The Cmpany shall serve an Inhibitin Order thus preventing the wner selling the prperty, btaining 5

6 secured brrwings against the prperty r cnveying with any ther prperty withut settling the utstanding factring debts. The rder shall last the duratin f 5 years. (h) Sequestrate When an wner has an utstanding debt f 3,000 r mre, the Cmpany will initiate actin t declare the wner bankrupt. The Cmpany has engaged a debt recvery agency t lcate and in apprpriate cases pursue recvery f all utstanding debts. The Prperty Services Manager will determine which cases are pursued by the agency. (9) REPAIRS In rder t maintain the prperty t a high standard it is necessary t identify and carry ut repairs. We aim t ensure a fast and respnsive service aimed at preventing rutine repairs becming majr building defects. The Cmpany will wrk t the schedule prvided t Milnbank Husing Assciatin tenants. Rutine Cmmn rutine repairs shuld be reprted t the Cmpany as sn as they are discvered. The Cmpany will attend, instruct and carry ut as deemed necessary within 5 wrking days. Where repairs cst less than 150 per huse, these repairs will be instructed withut ntificatin t the wner ccupiers. Where repairs cst mre than 150 per huse the Cmpany will ntify the wners in writing f: The nature f the wrk The ttal cst Their share f the cst The exceptin will be in the event f an emergency where there is a risk t persns r the prperty. These will be attended t within 4 hurs. Owners will be recharged fr their share f each cmmn jb. Cmmunicatin is a very imprtant part f this service. It is essential that wners cmmunicate their wishes and needs t the Cmpany. Planned Maintenance MPSL planned maintenance prgramme invlves items such as rf inspectins, gutter cleaning, drain cleaning, cleaning bin stres etc. 6

7 The Cmpany will ntify wners prir t the cmmencement f wrks detailing the sums invlved. In prperties where the Cmpany are majrity wners, we will instruct these wrks. Where this is nt the case, wners will be cnsulted and wrks will be instructed in accrdance with majrity decisins. Private The Cmpany s in-huse inspectin and advisry services are available t wners free f charge. Any wner wishing a private repair t be carried ut will be required t sign a Mandate. The Cmpany will nt carry ut a private repair fr an wner wh has an utstanding debt wing t the Cmpany. Requests fr Imprvement Wrks will be carried ut at the Cmpany s discretin. Emergency Calluts/Repairs An emergency repair If an Owner r a tenant f an Absentee Landlrd cntacts the Cmpany during emergency hurs, the Owner r the Absentee Landlrd will be re-charged fr the call-ut and any subsequent repairs and material csts t repair the prblem. Owners will be required t sign a Mandate agreeing t pay the csts. Call ut charge is 40 + VAT. MILNBANK PROPERTY SERVICES LTD IS VAT REGISTERED AND THE STANDARD RATE OF VAT WILL BE ADDED ON ALL REPAIRS CARRIED OUT BY OUR IN HOUSE TRADES; THIS WILL BE BROKEN DOWN ON YOUR INVOICE. VAT REGISTRATION NO: (10) ESTATE MANAGEMENT MPSL will ensure that the estate management services are planned, implemented, regularly inspected t the highest pssible standard and that estate management issues are acted upn immediately. All cmplaints will be treated in cnfidence and in a prfessinal manner with apprpriate actin taken. The actin may take the frm f: (a) (b) (c) (d) (e) (f) (g) nting the cmplaint with n actin required standard letter sent huse visit/interview invlving ther agencies e.g. plice, scial wrk clse/cmmittee meetings issue warning letters legal actin In the case f Estate Management issues and Absentee Landlrds the fllwing will apply: 7

8 (a) (b) (c) In the event f a cmplaint against the tenant f the Absentee Landlrd, a letter will be sent t the tenant. Shuld there be n respnse/actin undertaken by the tenant, a letter will be sent t the Absentee Landlrd. Shuld there be n respnse/actin undertaken frm the Absentee Landlrd, the Assciatin will instruct their Slicitr s t send ut a letter ut-lining the legal bligatins f the Absentee Landlrd. A full and cmprehensive cpy f the Estate Management Plicy is available n request r alternatively visit ur website where yu can dwnlad a cpy. (11) ALTERATIONS Owners prpsing t carry ut majr alteratins are required t ntify the Cmpany (as a c-wner) giving MPSL an pprtunity t extend services and advice. Any majr alteratin t a flat is bund t need permissin f sme kind r ther. Permissin is required fr any wrk invlving an area that affects the cmmn part f the prperty, erectin r demlitin f walls, mving a bathrm r tilet, installing new windws, changing the use f the flat etc. In sme respects a Building Warrant r Planning Permissin will be required. Where the Cmmn Interest may have relevance, it is apprpriate t ntify details f prpsed alteratins t ther wners in the prperty. (12) COMMUNICATION MPSL will cnsult with wners n all factring issues and hld wners meetings n request t discuss any issues relating t the prperty. A newsletter infrming wners f MPSL activities will be issued twice a year. Owners can cntact MPSL by calling at the ffice in persn, by telephne (respnse within 2 wrking days), in writing r by (respnse within 5 wrking days). The Milnbank Husing Assciatin website has a sectin dedicated t wners receiving services frm MPSL, which cntains infrmatin n all relevant plicies including the cmplaints handling prcedure. (13) COMPLAINTS MPSL has a cmprehensive cmplaints reslutin prcedure. Cpies are available n request. Where a cmplaint against MPSL is nt reslved t the satisfactin f the wner, the Prperty Factrs (Sctland) Act 2011 makes prvisin fr wners t refer their cmplaint and submit an applicatin t the Hme Owners Husing Panel (HOHP) wh will determine whether MPSL have failed t carry ut their duty t yu as a factr r failed t cmply with the Cde. The HOHP will nt accept a cmplaint until MPSL s cmplaints prcedure has been exhausted. Cntact details fr the Hme Owners Husing Panel, Eurpa Building, 450 Argyle Street, Glasgw, G2 8LH, telephne number , fax number , [email protected] 8

9 (14) OWNERS FACTORING AGREEMENT Each wner is encuraged t sign a factring agreement. The benefit f factring agreements is that they cnfirm in a clear and cnsice way, the cntractual arrangements set ut in this dcument. At change f wnership, slicitrs acting fr the new wner will be sent a factring agreement t be signed immediately t allw ur recrds t be updated accurately. (16) CHANGING FACTOR Hmewners can call a meeting at any pint t discuss and vte n a change f factr in accrdance with the deed f cnditin attached t the prperty. In rder fr a change t g thrugh a majrity decisin wuld be required. In blcks where Milnbank Husing Assciatin wns at least half f the prperties it wuld nt be pssible t change the factr. In blcks where Milnbank Husing Assciatin des nt wn a prperty a majrity decisin t change wuld be required. (17) DECLARATION OF INTEREST In prperties where there are tenants f Milnbank Husing Assciatin then the Assciatin has a vested interest in prviding the best factring service pssible. Maintaining the cmmn areas at yur prperty t a high standard helps us t prtect the investment that the Assciatin has made in the prperty and surrunding area. (18) CONTACT DETAILS Milnbank Prperty Services Ltd 53 Ballindallch Drive Dennistun Glasgw G31 3DQ Tel N: Fax N: [email protected] 9

10 ESTATES SERVICE SCHEDULE SUMMER SCHEDULE - APRIL - SEPTEMBER EVERY VISIT Grassed Areas Cut grass frnt/back gardens and all cmmn areas. All cuttings will be uplifted frm site. All areas f the prperty will be kept weed free. Hard Standing Areas All gardens with cmplete hard standing areas (n grass) will be brushed and kept weed free Litter All litter frm frnt/back gardens and cmmn areas will be cleared and remved Binstres All binstres will be checked and kept clean. WINTER SCHEDULE OCTOBER - MARCH EVERY VISIT Grassed Areas Clear and remve all litter, leaves and any ther materials frm frnt/back gardens and all cmmn areas Hard Standing Areas All gardens with cmplete hard standing areas (n grass) will be brushed and kept weed free Binstres All binstres will be checked and kept clean. EVERY WEEK Bulk Uplift Bulk uplifted n a weekly basis MINIMUM TWICE A YEAR - April/May & August/September Weedkiller Applicatin Apply weedkiller t all areas Trees/Hedges/Shrubbery Cut back, prune and remve debris frm site. Keep tidy and weed free ADDITIONAL SERVICE ON REQUEST - NO CHARGE Pwer Washing Hardstanding gardens nly will be pwerwashed 10

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