Property factoring is an essential service for maintaining shared buildings and communal
areas in Scotland — yet it’s often misunderstood. Myths and misinformation can lead to
confusion, disputes, and even unnecessary costs for landlords and owners.
It’s time to separate fact from fiction. Here are the most common myths about property
factoring — and the truth behind them.
Myth 1: “Factors Only Collect Money”
Busted:
While collecting service charges is part of a factor’s role, it’s far from the whole picture
Factors arrange repairs, schedule maintenance, handle emergencies, liaise with contractors,
ensure compliance with title deeds, and keep all owners informed.
Myth 2: “You Can’t Change Your Factor”
Busted:
Owners can change their factor. The process depends on your title deeds and the Property
Factors (Scotland) Act 2011, but if the majority of owners agree, you can switch to a
different provider.
Myth 3: “Factoring is Only for Big Buildings”
Busted:
Even small blocks and converted houses with just a few flats benefit from factoring. Shared
roofs, gardens, and stairwells still require upkeep — and a factor ensures costs are shared
fairly and jobs are done promptly.
Myth 4: “It’s Cheaper to Manage Everything Yourself”
Busted:
DIY management might seem cheaper, but delays, disputes, and poor contractor choices can
lead to far higher costs in the long run. A professional factor can often negotiate better
contractor rates and prevent expensive emergencies.
Myth 5: “Factors Don’t Have to Follow Rules”
Busted:
All registered property factors in Scotland must follow the Code of Conduct for Property
Factors. This sets out how they must communicate, manage funds, and deal with repairs —
protecting owners from bad practice.
Why Homesbook Factoring is Different
We pride ourselves on transparency, fair pricing, and fast action. Whether you’re a landlord,
homeowner, or part of a tenement owners’ association, we make property management stress-
free, compliant, and cost-effective.
Final Thoughts
Don’t let myths about property factoring stop you from protecting your investment. With the
right factor, you’ll save time, reduce disputes, and keep your property in top condition.
Ready to find out how we can help? Contact Homesbook Factoring today.
