- Our Services
- Why Choose Us?
- Property2 for Developers
- Property2 Team
- Insurance
- Frequently Asked Questions
Emergency Service
We offer a full 24/7 emergency service giving peace of mind.
Any Questions?
We have a full list of frequently asked questions.
Download Our Brochure (PDF)
Factoring: Questions & Answers
- What is a Factor Float?
- What is a Deed of Conditions?
- How can I contact you?
- What is Out of Hours?
- What am I liable for in a development?
- How often will we receive bills?
- How can I pay for my communal charges?
- What is the Management Fee for?
- If others don’t pay their Invoices what will you do?
- Who do I contact if I have a communal issue?
- What does the Building Insurance cover and who do I contact?
- How often will property managers visit our development?
- How do we know we are getting value for money from contractors?
- Do I get a say in the running of my development?
- What is defects liability?
What is a Factor Float?
This is a refundable deposit which is requested on the purchase or handover of a development. It is used to help balance the development account until invoicing begins. If you sell your property the factor float will be refunded within a final bill less any monies owed.
What is a Deed of Conditions?
A deed of conditions is a legal document which forms part of the title deeds to a building or a group of buildings, and which lays down the detailed rights, duties, and obligations of every owner within the building in relation to the common areas. It identifies the common areas and provides arrangements for the management and repair of the property, the division of costs between owners and procedures to resolve disputes.
How can I contact you?
You can contact Property2 through a variety of channels:
- By letter - 3 Blackfriars Road, Glasgow, G1 1QG
- By email – enquiries@property2.co.uk
- By Phone – 0141 559 6780 / 0844 846 7717
- Online - You can now leave a message through our website
What is Out of Hours?
Emergencies can happen day or night. As a result we have developed a 24 hour response service designed to be a first port of call for emergencies that occur when our office is closed. This service has proved to be a big success among our clients. The contact number for this service is 0844 848 9120
What am I liable for in a development?
When buying a property in a development with communal areas your solicitor should notify you of your responsibilities. Owners are jointly liable with all the other properties with regards to communal charges.
How often will we receive bills?
Invoices are produced inline with the Deed of Conditions. This usually states invoices to be sent quarterly, bi-annually or yearly.
How can I pay for my communal charges?
You can pay your factoring fees in a number of ways:
- By Cheque
- By Bank Transfer (Internet banking)
- By debit or credit card over the phone
- By cash either at you local bank or in our office
We also encourage owners to setup a Standing Order. This leads to a regular stream of income into the development account for essential repairs and maintenance. It also eliminates a larger bill at the end of the period. An online payment facility will shortly be available, however you can obtain a standing order form here.
What is the Management Fee for?
The Management Fee is our charge for managing your development.
This includes: ·
- Liaising with contractors and tendering for the best service
- Working with our Insurance Broker to achieve the best deal and resolve any issues
- Produce invoices (inline with the deed of condition)
- Cost of sending invoices, letters and newsletters
- Provide credit control to ensure that everyone pays their share
- Work together with Solicitors to chase payment on behalf of the development
- Liaise with electricity companies to make sure all charges are accurate and fair
- Undertake regular site visits and maintenance checks
If others don’t pay their Invoices what will you do?
Property2 have a dedicated Credit Control department to help ensure everybody in a development pays what they are due. We follow a strict legal procedure and liaise closely with our solicitor.
Property2 understand that every owner has a different financial circumstance, we aim to help in setting up payment plans to help meet your needs at a particular time. However, if you don’t contact us we cannot help you.
Who do I contact if I have a communal issue?
If you have an issue with your development you should contact our property managers. They are available at our office on 0141 559 6780
What does the Building Insurance cover and who do I contact?
The Block Buildings Insurance covers all fixtures and fittings within the building and the structure of the building. It is important to note that individual policies do not cover communal areas so it is essential that you ensure your problem is covered under the communal buildings policy.
You can contact our property managers regarding Insurance but we recommend approaching our Broker at One Soution – 0141 204 5432
How often will Property Managers visit our development?
Our property managers regularly visit our developments. The number of visits depends on various factors including the package of services offered to the development.
How do we know we are getting value for money from contractors?
Our property mangers will put out to tender all maintenance and services to attain the best deal for the development. We always aim to provide the best service at the most affordable price.
Do I get a say in the running of my development?
Here at Property2 we believe in giving our clients every opportunity to tell us what they need with regards to communal services. Not all developments are the same so we aim to meet the tailored needs of each of our developments.
What is defects liability?
It’s the length of time in which the factor and owners have to report and get the builders to carry out ‘snagging’ or any defects in a new build. It is normally either 1 or 2 years from sale of last property.