Term
Property factor: what the term means
A person or company that manages and maintains the common parts of buildings or land on behalf of owners in Scotland.
A person or company that manages and maintains the common parts of buildings or land on behalf of owners in Scotland.
Property factor in practice
Property factors organise repairs, insurance and maintenance of common parts such as roofs, stairs and back courts. Under the Property Factors (Scotland) Act 2011, factors must be registered on the Scottish Property Factor Register and follow a statutory code of conduct.
Where a building has a factor, repairs are usually arranged through it and approved by owners. Owners can still ask for alternative quotes and, where the rules allow, change factor.
Source: legislation.gov.uk