You will be charged either a fixed management fee or a variable management fee as set out in your Statement of Factoring Services. This is designed to cover Abertay’s cost of providing the services and is not intended to make a profit. The fee is reviewed annually.

Outline of Services included in the Variable Management Fee

Arrange communication with owners.
Tender and appoint contractors.
Supervise contractors and monitor contractors’ and consultants’ performance.
Pay contractors.
Issue bills to owners.
Maintain owners’ accounts.
Deal with owners’ queries and correspondence.

The variable management fee is currently 15% of costs subject to a minimum charge of £9.70 and a maximum charge of £160.

Outline of Services included in the Fixed Management Fee

Carry out regular maintenance inspections.
Keep lists of approved contractors and ensure all works are carried out at competitive rates, safely, competently and timeously.
Arrange any maintenance of, or repairs to, the common parts and if necessary any renewal or replacement of the common parts
Ensure that the close, landings, stairs and bin areas are kept clean tidy and regularly painted.
Maintain safety equipment located within common areas such as emergency lighting, smoke detectors, fire alarm systems etc.
Where required, set rotas for cleaning the close or employ a contractor / cleaner to clean the close.
Apportion the costs of any common electricity supply for stair lighting or the lighting of any other common parts.
Arrange owners meetings or communication with owners.
Tender and appoint contractors.
Supervise contractors and monitor contractors’ and consultants’ performance.
Pay contractors and suppliers.
Issue bills to owners.
Maintain owners’ accounts
Deal with owners’ queries and correspondence.

The fixed management fee is currently £160.