|
Factoring Service  The factoring service is a property management service provided by Williamsburgh Property Services (a subsidiary of Williamsburgh Housing Association), covering insurance, common repairs, cyclical maintenance, management and administration. As managing agents, our powers, duties and responsibilities are defined in the Deed of Conditions, for each property. In providing the service, our aims are as follows: To co-ordinate and monitor the management, maintenance, general upkeep and any improvements required, in respect of the common areas of our properties. To provide a service which is efficient and effective and which represents value for money. To ensure that the Association complies with property law and all other obligations. documentation as appropriate. To ensure owners are consulted and informed of all aspects of the factoring service and are aware of both their own rights and responsibilities and those of the Association. To regularly monitor and evaluate all aspects of the factoring service and review policies and procedures.
We will invoice owners for costs incurred on their behalf and recover outstanding debts as and when necessary. Invoices are issued every quarter, as follows: 1st Quarter – 1st April to 30th June 2nd Quarter – 1st July to 30th September 3rd Quarter – 1st October to 31st December 4th Quarter – 1st January to 31st March All charges will be invoiced in arrears, with the exception of the management fee and insurance, which will be charged in advance. Contractors’ invoices will be available to owners for up 12 months, following the issuing of invoices. Subsequent to this period, a charge of £11.00 plus VAT for each item of information, up to a maximum of £25.00 plus VAT, will be charged, to cover administration costs. All factoring invoices are payable within 14 days of issue. Where accounts are not settled timeously, or a satisfactory arrangement agreed to clear the sums due, we have an arrears recovery procedure, which is followed in all instances. There are several options available,which make payment convenient.
Please refer to the section entitled ‘How to Pay’ for payment options. Owners who pay using one of the recommended payment methods, within the 14 day period, will receive a 5% early payment discount on their next invoice. Please note that payments made directly to the office will not qualify for discount and payments may take 2-3 weeks to reach their account.
|
