Factoring Policy (Registration No. PF000231)

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1 Clydebank Housing Association Ltd. Factoring Policy (Registration No. PF000231) Management Committee submission: 26 March 2013 Approved: 26 March 2013 Review date: March 2016 This policy can be made available on request in a variety of different formats, such as on tape, in large print and translated into other languages.

2 1. INTRODUCTION This policy has been developed to show how Clydebank Housing Association Ltd (Clydebank HA) operates its factoring services. The Property Factors (Scotland) Act 2011 was passed by the Scottish Parliament and came into force on 1 October This new legislation is designed to regulate the property factoring industry and provide increased protection for homeowners who receive factoring services. It will now be compulsory for all property factors in Scotland to register with the Scottish Government and adhere to the Code of Conduct. The Association registered by 01 October 2012 as required. Our registration number is PF The Code of Conduct sets out the minimum standards of practice that we must follow as a property factor. Under the Code of Conduct, property factors must issue owners with a Written Statement, outlining the terms and conditions of the services provided and state their authority to act as factor Clydebank Housing Association discharges its authority as Factor as per provisions of either the title deeds relating to properties or in accordance with the Tenements (Scotland) Act 2004/Title Conditions Act 2003, if applicable, and/or the Factoring Agreement issued to all owners and therefore any action, which is taken, must be justifiable in terms of same. Clydebank Housing Association must have regard to the following in carrying out its role as factor: - The Law (i.e. relevant statutes and common law) Authority to Act as laid down in Clydebank HA s Written Statement of the Provision of a Factoring Service Deed of Conditions (and/or Factoring Agreement) Decisions of the Land Tribunal for Scotland Guidance issued by The Scottish Housing Regulator or other regulatory bodies 2. PRINCIPLES The following principles govern the effective operation of this policy: To provide a high quality factoring service, communicating and liaising closely with homeowners. Full compliance with the Code of Conduct which sets out minimum standards of practice for registered property factors. Accountability and openness in regards to dispute resolution for homeowners. Advice to owners will be impartial and factual, in relation to both works required and actions necessary for compliance with title deeds and the Property Factors (Scotland) Act 2011.

3 Owners will be encouraged to take an active part in decisions about property management and will actively encourage owners groups and meetings. Clydebank HA will account clearly for monies held on behalf of owners. 3. AIM OF FACTORING SERVICE The Association is the heritable proprietor of a number of properties where other proprietors have acquired an interest. The Association aims to provide a factoring service to all these owners to ensure that parts owned in common are both satisfactorily maintained and adequately insured (where applicable). In doing this we aim to recover the full costs involved. The terms of the factoring service provided by the Association to owners/sharing owners are detailed in the Written Statements. 4. DETAILS OF SERVICE OFFERED The Association shall be responsible for the general management and administration of the property and has the power to perform duties imposed by the Deed of Conditions/Written Statements and any other functions assigned by the owners. The service will include all necessary repairs to the common areas, insurance arrangements (where applicable), and administration of service charges, environmental maintenance and management of appropriate records. 5. CHARGING METHODS Factors accounts will be issued on a bi-annual basis, in June and December of each year. The following will be invoiced in June: - a) Insurance (Block Policy) for full year (where applicable) b) Service Charges (i.e. communal electricity, caretakers costs etc.) c) Repairs (Routine, Cyclical & Major) d) Management Fee (one half) e) Communal Window Cleaning (where applicable) The following will be invoiced in December: - a) Environmental Maintenance - for full year b) Service Charges (i.e. communal electricity, caretakers costs etc.) c) Management Fee (one half) d) Repairs (Routine, Cyclical & Major) Homeowners will have a period of 28 days from the date of the invoice in which to make payment. If the invoice is not paid in full, the Association will have no option but to follow the steps set out in its Factoring Debt Recovery Procedure.

4 Clydebank HA will take appropriate and ethical actions to recover bad debts and prevent the accumulation of high arrears. Such debts and arrears represent an unfair burden and cost to other, responsible and diligent, customers. 6. RECHARGEABLE COSTS a) Buildings Insurance Clydebank HA will ensure that adequate buildings insurance is in place in respect of those owners and sharing owners properties which are subject to the full factoring service. Owners are advised to arrange their own contents insurance; however, details of the SFHA approved scheme are regularly intimated to owners. Clydebank HA will ensure that owners not covered by its block insurance policy hold appropriate buildings insurance cover, in order to ensure its interests are protected. b) Repairs to Common Areas Where repairs are necessary, the full cost will be divided between the relevant owners in accordance with the shares for maintenance laid down in the title deeds/written statements. These are normally calculated in relation to the floor area or rateable value of properties within an estate. Different shares can apply to different parts of the building as per each individual Deed of Conditions/Written Statements. The Association is authorised to instruct works of repair, which it considered necessary or desirable, up to a maximum of 250 per owner. (This amount may be increased following an agreement reached at a proprietors meeting) with no restriction on issuing instructions for work relating to interim protection or safety to the building. Matters Relating to a Block The Association may instruct works of renewal following majority agreement arising from a meeting of relevant proprietors. Voting will be decided as per the conditions laid out in the Title Deeds/Tenements (Scotland) Act Matters Relating to the Estate The Association may instruct works of renewal/repair following majority agreement arising from a meeting of proprietors and after a majority of all owners within the estate have consented to the proposal. Voting will be decided as per the conditions laid out in the Title Deeds/Title Conditions (Scotland) Act c) Factors Float The sum of 50 (or such greater sum as may be agreed with a majority of the owners of the block) shall be payable by each new owner within 14 days, by

5 provision of these terms and conditions. This sum will be held by the Association on behalf of the owners and the Association will separately account for owners factors floats. The Association shall have the authority to use the funds held as a factors float together with any interest which has accrued to meet any debt owed to the Association in its capacity as factor of the block. d) Management Charge The Management Charge is set to cover the cost of providing the factoring service and will be reviewed on an annual basis to ensure that the Association s costs are adequately covered. Owners will be notified of any increase. e) Ongoing Service Charges These include the costs of environmental maintenance and unmetered supplies and any other services, which may be applicable. 7. ARREARS OF COMMON CHARGES Our Debt Recovery Policy details the Association s approach to arrears and control of same. This procedure is reviewable on an annual basis. A quarterly report to the Finance, Staffing & General Purposes Sub-Committee will highlight those arrears where legal action is required and each high arrears case will be dealt with on an individual basis. Under both the Title Conditions (Scotland) Act 2003 and the Tenements (Scotland) Act 2004, depending on whether dealing with a house within an estate or a flat within a block, the following procedure applies. The procedure is called a Notice of Potential Liability for Costs. The notice may be registered against the title of a property where there is an unpaid bill in relation to repairs or maintenance. If a notice is registered against the title of a property, any new owner of the property is jointly liable with the former owner for costs relating to any maintenance or work carried out before they purchased the flat if the Notice is registered at least 14 days before they have bought the flat. A Notice may be served as soon as a scheme decision has been made. A scheme decision is made either on the date that a meeting was held when the decision was taken, or the date when notice of the decision was given to the owner. The Notice needs to be registered at Registers of Scotland and it can be registered either by the owner of the flat/house, the owner of any other flat in the tenement/estate or the Manager. It can be registered against more than one flat and it lasts for 3 years. It can be renewed after 3 years. It will definitely cover specific works of repair or maintenance. 8. RESPONSIBILITY FOR DELIVERY OF SERVICE Clydebank HA will ensure that staff and committee responsibilities for the implementation of this policy are clear.

6 Factored homeowners must meet their responsibilities to keep the property maintained and in good repair including: Providing access at reasonable times to Clydebank HA, other proprietors and their service provider(s), to carry out repairs, maintenance or renewal works to common parts Abiding by the decisions reached as per the Deed of Conditions/Written Statements to carry out repairs, maintenance works above the threshold or any alterations to the external common parts of the property Payment of share of common repairs and maintenance costs as set out in the Deed of Conditions/Written Statements. Factored homeowners are individually responsible for ensuring that they have insurance cover for the contents of their house but are bound by the Deed of Conditions/Written Statements to participate in a common/block policy for buildings insurance, where applicable. Clydebank HA will ensure that owners not covered by its block insurance policy hold appropriate buildings insurance cover, in order to ensure its interests are protected. The operational responsibility for the provision of the Factoring Service will be delegated to the following sections from the Housing Management & Maintenance and Finance, Staffing & General Purposes Sub-Committees as detailed in the Standing Orders and Delegated Authority. The provision of the Factoring Service will, in the first instance, be the responsibility of the Maintenance Section. This section will deal with the reporting of common repairs, programming of cyclical and major repairs, improvement works, maintenance of common areas (both property and land), emergency situations, adequate notice to owners of common repairs likely to exceed 250 per property and any enquiries relating to same. The following standards will be met in the provision of the factoring service: - a) Selection of Contractors - The Association will ensure that its procedures for the selection and appointment of contractors for both the development and/or maintenance functions will be adhered to as per Maintenance Policies and Development Procedures. b) Tendering Procedures - The Association, when acting for factored properties, will consult with owners before undertaking any major repairs. c) Inspection Procedures - The Association will ensure that inspections will be carried out in line with Maintenance Procedures. d) Arrangements - Where bills include charges for unplanned (as opposed to routine) work, written explanations will be provided as to why the work was required and how it was done.

7 Invoicing, insurance, administration, management arrangements and any enquiries relating to same will be the responsibility of the Finance Section. The Maintenance Section will give the appropriate details and authority to issue the factoring accounts. The following standards will be met in the provision of the factoring service: - a) Method of Accounting - The Association will account for the factoring activities separately and will present statements of accounts to meetings of owners if called. Statements of accounts should be issued to owners at least twice per year. b) Manner of Charging/Charge Period - The Association will ensure that owners are notified of charges via twice-yearly invoices and the charging period will be specified. Information as to when payment is due together with details of how the charges have been made up and how queries should be dealt with. Owners will be offered a variety of means to pay e.g. at the office, swipe card, cheque and standing order, direct debit or by debit/credit card via telephone available 24 hours per day (allpay) or at the office (during office hours). Where major works are required, the Association will offer a facility to pay in instalments in advance of the work being completed. Owners should be informed that payments to be made via the approved methods. Estate Management and the issue of neighbour disputes are responsibilities of the Housing Management Section. In all such situations, the Association will act fairly and reasonably and, consequently act in line with our Anti-Social Behaviour Policy. Where at least one of the parties to a neighbour dispute is a tenant of the Association, the Association has a clear role as landlord. However, where the dispute involves owner-occupiers exclusively, the Association will limit its involvement, as it would be inappropriate to intervene to any significant extent. 9. REPORTING REQUIREMENTS All departments will report to their appropriate Sub-Committees on their particular issues as follows: - Finance Outstanding debtors - quarterly Issuing of accounts to owners - half yearly Complaints from owners - as required Performance Targets - annual Compilation of newsletter and review - annual Policy/Procedure formulation and review Insurance income through Management Accounts - quarterly

8 Maintenance/Housing Management Major/cyclical repairs - as required Maintenance of common areas - as required Complaints from owners - as required In-house property management programme - as required Performance Targets - annual Compilation of newsletter and review of service - annual Neighbour Disputes - as required Policy/Procedure formulation and review SPECIFIC INFORMATION ABOUT EACH ELEMENT OF THE FACTORING SERVICE Day to day repairs - repairs will be carried out as per the Association s Maintenance Policies. Cyclical Maintenance - the Maintenance Manager/Section alongside the projections for current rented stock will programme this work. Major Repairs - this work will be programmed by the Maintenance Manager/Section alongside the projections for current rented stock. Improvement Works - this work will be carried out as requested/agreed by all owners/sharing owners. Common Repairs (property)- Shares for maintenance will be applied to all factored properties as per the Deed of Conditions/Written Statements. Environmental Maintenance of common areas (land) - Environmental maintenance works will be tendered for and carried out alongside the requirements for the Association s rented stock. Insurance - The Association will include all fully factored properties within its Block Policy and will be reviewed as required. Caretakers - Caretakers will be employed as per the Association s Recruitment and Selection Procedure. 10. MONITORING AND REVIEW ARRANGEMENTS The factoring service will be continually monitored and an annual review of the level of service will be tied in with any annual/scheduled meeting of residents.

9 11. COMMUNICATION AND COMPLAINTS Owners/Sharing Owners, who raise concern about the quality/cost of work should, in the first instance, contact the Maintenance section. Queries/disputes regarding other charges levied should, in the first instance, be directed to the Finance section. It is important to the Association that owners are satisfied with the factoring service that the Association provides. We actively seek owners views on our service and feedback to them accordingly. The Association has a Factoring Complaints Handling Procedure which can be referred to by owners and is readily available. Complaints not resolved internally can be referred to The Homeowner Housing Panel (hohp) at the following address: Homeowner Housing Panel Europa Building 450 Argyle Street Glasgow G2 8LH 12. EMERGENCY REPAIRS Details of how to report / request an emergency repair are contained within the Written Statements issued to owners and are included in all editions of ChitChat and owner occupier newsletters. 13. ARRANGEMENTS FOR CATEGORIES OF OWNERS a) Commercial Owners West Dunbartonshire Council and Commercial Owners should be informed by the Maintenance Section of instructions being issued for common repairs as detailed in the individual Written Statements. b) Full Owners For these owners, the Deed of Conditions/Factoring Agreement/Written Statement for factoring applies. These owners are subject to the common charges mentioned above in Charging Methods section 5. c) Sharing Owners For sharing owners, the terms for factoring are covered by the Occupancy Agreement/Written Statement. A sharing owner pays rent to the Association, which covers the insurance, the service charge and the management of the property. As a result, sharing owners are only liable to pay the factors float and their share of maintenance costs. The only exception to this is at 131 Glasgow

10 Road, where sharing owners do not pay for unmetered supplies via their rental charge and are therefore invoiced for this service twice per year. A sharing owner who purchases the final share in their property will become a full owner and be treated as described in section b) above. 14. ONWARD SALES When an owner sells their property, the Association will inform the seller s solicitor of any outstanding invoices so that at settlement, any balances can be cleared. In high arrears cases, a mandate should be signed by the seller prior to any factoring information / Written Statement being provided to their solicitor. An End of Occupancy Administration Charge of 15 will be payable by any owner selling a property. The charge will cover providing the required information to the solicitor acting on behalf of the owner, for the apportionment of common charges, for arranging refund of any float balance and for updating our register of owners. This charge will be included on the outgoing owner s final factors invoice. 15. DATA PROTECTION The Property Factors (Scotland) Act 2011 requires that the Association provides information to the Scottish Government on the properties to which they provide factoring services. This will result in certain information being published and available to the public. 16. EXTERNAL LINKS Further information on The Property Factors (Scotland) Act 2011 and the Code of Conduct can be viewed on the Scottish Government website: -

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