Your Responsibilites

Deposits
You are required to pay a deposit of £100 at the time of signing your factoring agreement. This money is used to pay for any minor maintenance issues until your 6 monthly account is issued. This will be returned to you should you leave the property.

For sharing owners buying into a new build development you may also be required to pay a deposit of £100 which will be deductible from the purchase price on completion of the sale transaction.

Factoring Charges
You will be required to pay your share of the common charges and management fee in April and October. Your account will normally include your share of:

• the cost of any common repairs and maintenance
• services provided such as landscape maintenance, close cleaning, common lighting charges
• management fee which includes the cost of the buildings insurance and staff time for liaising with lenders’ solicitors, liaising with contractors, account updating invoices, postage, arrears procedure, file maintenance and inspections by maintenance staff.

Sharing owners will normally pay for services and the management fee along with their weekly occupancy charge. If you are a sharing owner, you will also have to pay your weekly occupancy charge.

Factoring fees and occupancy charges can be paid by standing order. Please contact the office for a standing order form.

Repairs & Maintenance
You have complete responsibility for ALL repairs to your property which are not repairs in common areas.

Letting Your Property
If you let out your property you will still have to pay the charges and you should let us have details of who is staying in your property. You should also let us have your forwarding address should we require to get in touch with you about your property.

Selling Your Property
You should let us know if you sell your property as the new owners will be required to use our factoring service. This will also enable us to apportion the correct common charges due to you and the new owner at the time of the sale. You should ask your solicitor to deal with this on your behalf.