We were dismayed, but sadly not surprised, to read the recent news update on the plight of homeowners in East Kilbride, news which highlight how important it is to have a common insurance policy in place. In October 2023, a fire tore through six terraced houses in East Kilbride and, nearly 10 months on, the families are still awaiting resolution, hoping that the properties can be demolished and rebuilt. However, one of these six properties was not insured and the homeowner will not authorise the demolition, likely due to their inability to fund such works, leaving the whole terrace in limbo. As this concerns private property, no other body, including the Local Authority, are able to intervene, despite all homeowners continuing to be out of their homes. This terrible position could so easily have been avoided had a common buildings insurance policy been in place.

Property Factors play an important role in supporting homeowners with their obligations to ensure their common property is protected and maintained.  Property Factors regularly arrange common buildings insurance policy on behalf of groups of homeowners, a key benefit of which is the reassurance for all homeowners that the whole property is insured at all times, even if ownership of the individual properties ever change hands.  Property Factors will ensure premiums are fully paid to the relevant broker or insurer (subject to available funding), collecting the homeowner’s share of this via their common charges account. Moreover, the Factor is also happy to support their homeowner customers through any claims handling processes and can help co-ordinate any insured common repair works either directly or through loss adjustors appointed by the insurer.

Our friends at Under One Roof also continually extol the benefits of common buildings insurance and their website is an excellent resource tool for all homeowners looking to expand their understanding of common ownership. Further information on the benefits of common buildings insurance can be read here.

Member firms of The Property Managers Association Scotland (PMAS) provide an array of services to help homeowners maintain their common property, including the arrangement of this vital insurance provision and if you are looking for help you this or any other service, visit our members page here to find a Property factor in your area.