Charging Policies

When your factoring arrangement with Yorkhill Housing Association Ltd begins, you will be charged a one-off float payment. This float acts as a cash reserve to cover the cost of common repairs that may arise between invoicing periods, allowing us to respond quickly without delay.

The float is held in a sub account and is not a recurring charge. If you sell your property or change factor, the float will be refunded in full, unless there is an outstanding balance on your final account. In that case, the float will be used to offset any amount owed.

The level of the factoring float may be reviewed periodically to ensure it remains appropriate for:

• Rising repair costs due to inflation or market conditions
• Increased frequency or scale of common repairs
• Changes in the scope of services provided

If a review indicates that an adjustment is necessary, we will notify owners in advance and explain the reasons for any proposed change.

Invoices are issued twice a year, normally in May and November.

Electronic invoices are available on request.

Payment is expected within 14 days of the invoice date.

If you sell your property between invoicing periods, you will receive a final invoice with adjustments based on your period of ownership. If you purchase a property mid-period, your first invoice will reflect charges from your date of entry.

We review factoring fees no more than once per year.

• Management Fee - this covers the cost of delivering core factoring services. The cost of managing common services to both owner-occupied and rented properties is shared between owners’ fees and rental income. The annual fee is split across the two invoices.
• Common Repairs & Additional Services - costs are apportioned according to your Deed of Conditions. The Association pays tenants’ shares from rental income.
• Ongoing services (e.g. stair cleaning) are split across both invoices.
• Reactive, planned, and major repairs are billed on the first invoice following completion.
• Insurance Premium - the Association pays the annual block insurance premium in April. Your share of the annual premium is included in the May invoice.
• Pay-As-You-Use Services
• Information Requests - if you request duplicate invoices or other documents, a small fee will apply to cover staff time, stationery, and photocopying. Payment is usually required before documents are issued.
• Contractors’ Invoices & Project Management Fees - your invoice will list individual repairs, including the date, description, and your share of the cost. We do not include copies of contractors’ invoices with your bill, but they are available for inspection at our office for 28 days after the invoice is issued. There is no charge for viewing invoices in person, and paper copies can be provided for a small fee.

• Individual Project Participation - where appropriate, the Association may invite owners to participate in specific improvement projects. In these cases you will receive clear information about the proposed works and payment terms, no work will be instructed without your signed consent and payment of the works will be required in advance of work commencing.

• Legal Costs - if your factoring account falls into arrears and you do not contact us to make arrangements, we may initiate legal action to recover the debt. Legal proceedings are costly, and you will be recharged for some of the expenses incurred, including solicitor's letters, sheriff officer services and court expenses. In line with your Deed of Conditions, we may also apply interest to the outstanding balance being pursued through court action.

• Change of Ownership: Administration Charges - when a property is sold, the Association incurs additional administrative costs related to liaising with solicitors, preparing final accounts and updating ownership records. A standard administration fee is charged for this service and is reviewed annually.