Changing the Factor
Changing the Factor
Yorkhill Housing Association works hard to deliver a cost-effective and responsive factoring service. We are committed to providing high-quality property management and value for money within the resources available to us, and we hope to continue serving as your local factor for many years to come.
However, we understand that circumstances may arise where it is no longer appropriate for the Association to remain as factor. This may occur if:
- Owners wish to appoint a different registered factor
- The Association decides to withdraw its factoring services from a particular property
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The process for changing your factor is outlined in your Deed of Conditions. While individual deeds may vary, the general procedure is as follows:
- Call a meeting of all owners
- A minimum of seven days’ written notice must be given.
- Discuss proposals for change
- At the meeting, owners will consider the option of appointing a new factor.
If a majority of owners agree to the change, a handover date will be agreed with the Association. A new factor would normally take over 3 months to begin administering their services after the decision is made.
If Yorkhill Housing Association decides to withdraw its factoring services from a property:
- We will call a meeting of the affected owners to explain the reasons
- Owners will receive 3 months written notice of the decision
- Where possible, we will provide alternative options for owners to consider