What are the benefits of Property Factoring in Scotland?
Image of Property | Property Factoring in Scotland | Estates Property Management

Are you searching for property factoring in Scotland? Estates Property Management have property factoring services for you!

Estates Property Management values good communication as the key to a good relationship between parties.

This latest blog will explain what property factoring in Scotland is and the benefits and services we provide!

What is Property Factoring in Scotland?

Property factoring is a process in which the management and maintenance of the residential or commercial property are transferred from the owners to an external third party.

It is often favoured by those who do not have the time, resources or expertise to manage their own building, such as tenement blocks.

A Factor is typically appointed via a Deed of Conditions which will outline the process for selection and payment of the Factor.

The role of the Factor is to oversee all aspects of the upkeep of the building, including any repairs or renovations that may be required.

This can include carrying out regular inspections, collecting rents, managing communal areas, arranging maintenance works and dealing with tenant queries.

Property factoring for commonly owned areas is a great way to ensure that maintenance and repairs for shared spaces are taken care of.

This service involves the company taking responsibility for all the routine maintenance tasks required to keep these areas in good condition, such as landscaping, cleaning and repair.

As well as handling day-to-day management tasks, these companies can also take on more complex jobs like refurbishment or significant repairs.

The Benefits of Property Factoring Scotland

Property factoring offers a significant range of benefits for property owners.

  • Reduce Costs – It reduces the costs associated with managing and maintaining your property, as the Factor carries out all repairs and maintenance work. This means you no longer have to worry about dealing with contractors or keeping an eye on repair costs.
  • Efficiency – Property Factoring provides a more efficient way to collect rent from tenants, with payments made directly to the Factor at pre-agreed times and dates. This helps ensure that rental income is received on time without chasing up tenants or dealing with late payments.
  • Simplicity – Property Factoring also simplifies the process of collecting service charges and other fees from tenants. The Factor will be responsible for issuing invoices and collecting payments, while you can rest assured that all money owed is being taken care of in a timely manner.

 

Estate Property Management Property Manager Services

Estates Property Management offers an extensive range of property factoring services designed to ensure that your building is maintained to a high standard.

Our professional and experienced team will work with you to assess the needs of your building, as well as identify any maintenance or repair work required.

We will then arrange and manage day-to-day or routine maintenance contracts, such as stair cleaning and gardening.

EPM can also help manage maintenance contracts for lifts and boilers, or directly employ and supervise on-site staff such as caretakers.

In addition, we take care of arranging for repair work to be carried out, including obtaining quotations, hiring contractors and supervising their work.

This could involve coordinating the services of multiple different building trades. Estates Property Management also manages the joint owners’ bank account, collecting payments as required and arranging building insurance.

We understand that ensuring a safe environment is vital in property management which is why our services are tailored to meet the specific needs of each individual client.

Our team is highly knowledgeable in all property maintenance areas and uses the latest technology to provide a comprehensive service.

EPM is committed to providing quality customer service and has worked hard over the years to build long-term relationships with our clients.

Contact Us

For more information on property factoring in Scotland, call us on 03330 062 930 or email us at enquiries@estatespm.co.uk.