A Factor is a Property Manager who has been appointed to manage the communal areas within a development of flats and/or houses.
A Factor will maintain the common areas within the development and some common parts of the building on behalf of the homeowners. It is the homeowners’ responsibility to make sure the common parts of their building are kept up to standard and the factor is there to help owners do this effectively. If you live in a property with areas of common ownership or maintenance responsibilities, you and the other owners in the block and development will be responsible for the costs of maintaining and repairing these areas. We provide a range of factoring services that include common grounds maintenance, common repairs, common insurance and common utilities to assist with this.
As a factored owner you are responsible for a share of the costs of the services provided to your building or common areas. When you own a property you also have a shared responsibility for the insurance of the building and for the general tidiness and repair of all common areas. Your responsibilities and legal liability are outlined in the Deed of Conditions, which you sign when you buy your flat.