In line with the requirements of the Property Factors (Scotland) Act 2011, the Private Housing Services Team within the Scottish Government are in the process of contacting all registered factors (including RSLs) to remind them that they are required to confirm or update the list of properties which they manage by 30th June 2013.
What do I need to do?
- A note of all properties and details of all land managed by each factor.
The properties which must be listed are those managed by each factor for the period between the date of factoring registration and the year end, being 31st March 2013.
You may recall that there were some mixed messages and confusion for many RSLs managing mixed tenure blocks or developments, with uncertainty as to which properties should be included in the factored properties list. Scottish Ministers have now produced Guidance which affirms that:
- blocks or developments where the RSL owns and manages only social rented stock can be excluded
- mixed tenure blocks and developments are to be included
For example, in a block of eight flats which is managed by the RSL where the tenure split is three shared ownership, one owner occupier and five affordable rented units, all eight flats must be listed as factored units in terms of the Properties and Land Portfolio.
Some RSLs have already asked if this means Written Statements and factoring information need to be supplied to its tenants. We can confirm it does not. The affordable rented units included in any factoring listing are owned by the RSL and as such, it is the association itself who is the party bound to receive any information per the Property Factors (Scotland) Act 2011 and the Property Factors Code of Conduct.
If you'd like to discuss how the factors act will specifically impact upon your organisation, get in touch.
