Obligations of Owners and Factor
All stock managed by the Association is tenemental. Although there are some variations between Deeds about details such as how common shares are divided, the following obligations apply to all owners including Yorkhill Housing Association.
- All owners have a joint responsibility to keep the tenement safe and properly maintained. This includes the roof, close, backcourt and Binstore and any other common areas as specified in the Deed of Conditions
- All owners must allow access to their property if required to trace and access the source of a common problem
- All owners have a joint responsibility to ensure that the property has adequate buildings insurance to cover damage from flood, storm and fire.
- All owners are jointly responsible for payment of common repair costs
- All owners are bound by the terms prescribed in the property Deed of Conditions or any variation agreed by all relevant owners
The Factor’s role is to administer and manage common services on behalf of the owners of the tenement. Any action taken by the Factor has to be authorised by the terms of the factor’s appointment or a majority of relevant owners.
- The Factor has a legal obligation to register with the Scottish Government
- The Factor must comply with the provisions of the Property Factors (Scotland) Act 2011
- The Factor has a duty to act on behalf of the owners within the terms specified in this statement of services
- The Factor has a legal obligation to arrange adequate buildings insurance for the property
- The Factor has a legal entitlement to recover all legitimate costs paid on owners’ behalf from individual owners
- The Factor is bound by the terms prescribed in the property Deed of Conditions or any variation agreed by all relevant owners