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WHAT IS A FACTOR?

April 26, 2017Factor

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WHAT IS A FACTOR?

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Your Factors are Professional Property Managers who work with you and the other co-owners in your Property/Development .They organise common repairs and maintenance such as cleaning, gardening etc. these are the parts of the building that do not belong to you exclusively, for example: – if you live in a flat this will include your roof, walls and entrance or any shared amenity areas. Common areas will be a shared ownership between you and the rest of your neighbours within the development. No matter the type of property or development, if there are common parts then each owner has a legal responsibility for repairs, maintenance and upkeep of these areas and has to pay their share. They cannot opt out. The Deed of Conditions will determine the share of each owner and which areas are described as “common “.