City Walk: Thistle Lane, Aberdeen

Transcription

1 Introduction to the Factoring Service provided at City Walk: Thistle Lane, Aberdeen By Source Factoring Source Property Services Belgrave House 7 Belgrave Terrace Aberdeen AB25 2NR Prepared by: Matthew R. Christie March 2012

2 Contents Page Page 2 - Contents Page Page 3 - Welcome to Your New Home - Introduction - About Source Factoring - Contacting Source Factoring - Reporting Issues - Formation of Development Proprietors Association Page 4 - Management of the factoring service - Contractors - Benchmarking - Management of Contractors Page 5 - Delivery of Factoring Service - Invoicing - Contingency Fund for small repairs - Factoring Fee - Major Additional Works - Insurance - Residents Contact Details Page 6 - Services Provided at Thistle Lane - Cleaning - Carpet Cleaning - Ground Maintenance - Gutter Cleaning - Bulk Bin Cleaning Page 7 - Communal Electricity Costs - Repairs - Provision of Grit Bin & Supply of Grit - Block Building Insurance - Visitors Parking Space - 2 -

3 Welcome to your new home! Introduction We hope that the move into your new home runs smoothly and that your enjoy settling into your new home. We understand that a move into a new home is an exciting time and that you will want to take as much enjoyment and benefit from the property as possible. It is our intention to ensure your enjoyment of the property and in particular the communal areas are maintained to the high standard in which they have been provided by Bancon Homes. The information provided in this introduction guide details what services shall be provided as part of the factoring service, how these shall be delivered and how we will work with you, the owners, to ensure the common areas are managed to a high standard at all times. About Source Factoring Source Factoring operates out of Source Property Services at Belgrave House, Belgrave Terrace, Aberdeen. Source Property Services provides a range of professional residential property services and is a division of Aberdeen Property Leasing Limited (APL). Source currently manages thirty six developments totalling in excess of 1100 flats and houses. These developments range in size and are made up of a mix of city centre, suburban and rural locations in and around Aberdeen. Source Factoring and director Matthew Christie are members of the Property Managers Association Scotland Limited (PMAS) and as a result we are bound to the professional standards of conduct and service delivery required by the association and its members. Contacting Source Factoring Should any owners have queries regarding any element of the factoring service and its delivery please contact the Source office straight away. The office is manned Monday to Friday, 9am to 5pm. The office number is Alternatively should you prefer to contact us by please contact [email protected] Written correspondences can be directed to Source Factoring, Belgrave House 7 Belgrave Terrace, Aberdeen, AB25 2NR. Reporting Issues As factors Source shall undertake monthly inspections of the development to review the conditions of the communal areas. However, issues may occur in the time between these inspections, as a result we encourage residents to report any issues or faults as they occur or are noted to ensure they can be attended to as quickly and efficiently as possible. All such issues can be reported using any of the methods detailed above

4 Management of the Factoring Service Contractors All contractors who quote for or carry out works at Source managed developments are independent and hold their own professional indemnity insurance. Source does not directly employ tradesmen who carry out work at the developments under our management. This ensures that we are able to provide an accountable and transparent service. We can easily call into question standards of service and if required dispense of any contractors services when they are not meeting the standards required or fail to show value for money. Where possible we make use of known contractors who we are confident will provide the standard of service expected by Source and our clients. Benchmarking No matter which tradesmen are used in a development we strive to ensure that the best service is provided at the most competitive price. Emergency repairs by their nature do not always allow for the best price to be secured prior to work being carried out. We recognise that often a lower priced quote will be reflected in the scope of work provided by a contractor. This occasionally suggests that a lower service level will be provided. It is important to ensure that both service levels and pricing are in line with the market place and that this is reviewed regularly against contractors providing a similar scope of work. Where works may involve a significant spend and they are not deemed to be emergencies we always seek three quotes to ensure best value is being achieved. Management of Contractors Through monthly development inspections it is our aim to ensure that any major issues with the standard of service provided by contractors will be managed without the intervention of owners/residents. We also use these inspections to review/inspect/check standard of any repair works that may have been carried out to the communal areas. We do however, appreciate that issues can arise in the time between these inspections and as result rely on the Owners Association or individuals within the development to make us aware. Only by making us aware of situations can we be expected to react and respond to such concerns. This should allow a swift and efficient remedy to any issue. Source employs a highly effective management system which allows all members of staff to review development, property and owner information. The system also allows for the requesting of quotes and raising of works orders in a way that is easily tracked and updated as works proceed and information provided

5 Delivery of the Factoring Service Invoicing - Billing is made in advance on an annual basis. Costings for the works to be carried out by contractors are collated and apportioned depending on the situation of each individual property. A contingency fund to cover all unplanned maintenance works required during the course of the year is then added to the billing, along with the management fee subject to VAT. Any surplus balance at the end of a billing period is held against each individuals account and can be used to reduce the coming years billing. Any deficit is stated and added to the coming years billing. Contingency Fund for Small Repairs - As billings are made in advance a contingency is charged to ensure that monies are available to fund small repairs thus allowing the quick and efficient remedying of such problems or issues. It is hoped that this sum is sufficient to cover such repairs over the course of a year. Should this total sum not be required the balance is held against each individual owner s account and carried forward to be set against the following year s costs. The contingency would be used for unexpected repairs to stairwell and external lighting, the entry system and such issues. Factoring Fee - The Factoring fee is charged to each residential unit within the development. Subject to VAT, this fee is the sum paid to the factor for the management of the factoring service which includes the collection of contractors tenders, provision of the annual budget, individual billing to each owner, collection of payments from owners, checking of work and making payments from the development fund to tradesmen, pursuit of outstanding payments, arrangement of debt collection as and when required, management of communal day to day repairs, management and monitoring of contractors, monthly inspections of the developments, access to office manned Monday to Friday 9am to 5pm. Major Additional Works - Where major communal works outwith those delivered as part of the general factoring service are required, Source Factoring charge a 10% Project Management fee in addition to the standard annual factoring fee. This fee covers the additional administration required in carrying out major works including the collection of quotes, additional communication and invoicing of owners, collection of payments (if required) pursuit of payments, management of repairs/works, monitoring and inspecting progress of works and completion approval, payment of invoices raised. Insurance - Source Factoring is fully covered for professional indemnity through RSA and as a result you can be confident that everything we do is covered for any occurrence that may arise in the provision of the factoring service. We also ensure that all contractors are comprehensively covered with appropriate insurance. Residents Contact Details - Our intention is to gather all contact details for the owners of the properties as far as possible. The availability of this information has a number of benefits, firstly and most importantly it allows for better communication between the factor and the owners. Finally, the collection of addresses allows for quick, reliable and efficient communication with all residents whether it is the distribution of the annual billing or an update to a specific block about an on going issue. This method allows provides an environmentally sound way communicating with the developments owners. However, if residents do not have access to the internet, communication can be made easily via surface mail or telephone

6 Services Provided at Thistle Lane The following services that we view as being essential to the efficient management of the City Walk Development under a factoring agreement shall be provided as part of the factoring service. The contractors who have been engaged for Thistle Lane are known to Source Factoring and have been benchmarked for costs when quoting for developments currently under our management. Cleaning Gary Thomson Property Maintenance Detailed below is the scope of work to be provided as part of the communal stairwell cleaning: - Vacuum all carpeted communal area - Remove junk mail and papers - Dusting of ceiling areas of cobwebs - Wet wipe/polish banisters/balustrades, skirtings, stair tread nosings, dado rails, ledges & light fitting - Polish/wash front doors - Clean entrance glass - Monthly clean of stairwell windows internally and externally - External balcony glass panel cleaning - Replace blown bulbs including external lighting at cost - Reset time clocks for hour change - Report broken/damage to factors Carpet Cleaning The stairwell carpets shall receive an annual shampoo. This will generally be carried out in spring to remove the debris ingrained in the carpets over the course of the year, in particular the winter. Ground Maintenance Gary Thomson Property Maintenance Detailed below is the scope of work to be provided as part of the communal garden maintenance: - Litter pick up - Pick up fallen leaves and other debris - Sweep/blow car park areas - Brush out bin store area - Removal of all debris created by contractor Gutter Cleaning An annual gutter clean and check to avoid blocked gutters and downpipes and any damage this may cause to the buildings roof and rainwater goods will be provided. Any repairs indentified shall be charged separately and deducted from the contingency. Bulk Bin Cleaning We have recommended the provision of a quarterly bulk bin clean to ensure the communal bin is kept as hygienic as possible. Please note that this is to sanitize the bin only, it will not restore the bin to original condition

7 Communal Electricity Costs With the presence of communal stairwell and car park lighting the cost of the electrical supply to these elements shall be billed to Source and the invoices paid on behalf of the residents. Repairs Where a repair is reported and is deemed to be required to ensure health and safety or development standards are maintained, the responsibility for the repair shall be determined and the costs deducted from the responsible residents contingencies. Provision of Grit Bin and Supply of Grit The provision of the bin is a one off cost to be incurred in the first year of the factoring costs only. The future supply of grit shall be based on levels of usage, as this will vary depending on the severity of winters we shall make use of the contingency fund to cover these costs. Block Building Insurance We have sought a competitive communal block insurance quote through APL Insurance Services. The most competitive cover quote was provided by Aviva. This is bespoke cover with conditions based on the circumstances surrounding the development. Associated Costs & Cover Provided 100 general excess 1000 subsidence excess 25% day one uplift Cover prior to full occupancy 20% Loss of Rent or Alternative accommodation on sum insured Full cover on all flats once 25% occupied FLEA (Dry Perils, excluding flood damage) Subsidence and Property Owners Liability on vacant units until 25% occupied Unoccupancy conditions on all vacant units until 75% occupied 30 day review until 75% occupied Post cover survey Visitors Parking Space One visitors parking space has been provided at the development, complete with parking post to reduce the possibility of outsiders use of this space. As all eight flats are entitled to make use of this space, we believe the fairest way of managing usage is for the key to the post to be retained by Source Factoring. Owners will then be able to book the key out on a first come, first served basis by contacting our office and requesting use of the key for a specified period of time. Source Factoring will maintain a record sheet of scheduled bookings. Owners should ensure the parking post is up before returning the key to our office at the end of the agreed time period