How much do you pay for factoring?

[letsbepositive2024]

Hi

My DD has bought a tenement flat in Glasgow and the whole block are thinking of getting a factory agent in to manage stair cleaning, lighting, checks etc

There are 12 properties. Anyone any idea what a monthly fee would be for such a service?

We pay £350pa for factoring. There is 12 in the block and the factor repairs and maintains all common areas so the stairwell and bin store. There is also a common grassy area owned by all of the blocks so i think its 48 flats thats split between, maintenance of that is included too plus buildings insurance. They also arrange non routine repairs and if its not essential a vote is taken. Factors often get a bad name but ours are excellent and very helpful. Its New Gorbals Housing Association. Im privately owned and the other flats are probably a 50/50 mix of private and HA ownership so not sure if being a part of the HA block makes it a bit cheaper some of my friends in brand new blocks pay £100+pm!

100 a month here which is ridiculous for what they do.

Ours is paid quarterly but think it averages £50 per month. We're with Macfie &Co - we switched to them from 91BC who were awful.

Thank you so much, really helpful and just shows the variance

Worth checking if these figures include buildings insurance - some pay their factors for this, via their factoring fee, and can sometimes make a big difference to the total.