Our Members will assist homeowners 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 homeowners and acting as the factor, our members will 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 homeowners strictly in accordance with the Deed of Conditions, or as instructed by the homeowners, and account with homeowners regularly and with a transparent billing of costs.
Key to being able to maintain this arrangement is a responsible approach by homeowners to the payment of the factor’s invoice coupled with robust and effective credit control by the factor.
Debt recovery is part and parcel of factoring today and our Member Firms recognise how vital it is that rigorous and fair, credit control is implemented, thus ensuring the smooth and lasting asset value of a property.
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