Finance Management Services
Our members will assist their clients in the financial administration required to ensure efficient management of their property. This service is an integral part of any successful factoring arrangement. On behalf of the Owners our Members will , acting as Factor, arrange the payment of repairs and maintenance invoices, insurance premiums, wages, utility bills and other costs associated with the common property. The Factor will apportion these costs between owners strictly in accordance with the Deed of Conditions and account with owners regularly and with a transparent billing of costs.
A key to being able to maintain this arrangement is a responsible approach by owners to the payment of the Factor's invoice coupled with robust and effective credit control by the Factor. Regrettably, debt recovery is part and parcel of professional block management today and our Member firms recognise how vital it is that rigorous, but fair, credit control is implemented, thus ensuring the smooth and lasting management of a property.