Every property factor in Scotland must be registered to the ‘register of property factors’. They must also follow the ‘Code of Conduct for Property Factors’. This sets out the minimum standards of practice that property factors have to comply with.
The current Code has been in place since the Property Factors (Scotland) Act 2011 came into force in October 2012. Since then, the number of property factors required to comply has increased year on year and the Act requires Scottish Ministers to prepare and publish a Code from ‘time to time’. Following an informal review, Scottish Ministers determined that there could be benefit in exploring potential changes to the Code and, therefore a consultation was published to seek views from the industry.
We sent you an email earlier this year on behalf of the Scottish government, inviting you to take part.
What were the results?
The consultation closed on 29 June 2018 and the Government has analysed the responses. Some of the findings, in brief, are as follows:
· 71% of respondents felt the original code had made improvements, especially in defining minimum standards of service
· 72% of respondents thought the introductory text within the draft revised Code, clearly explains its purpose, who it applies to, and the broader regulatory background
· 67% of respondents thought the themes of the revised code should remain as drafted (these are in relation to written statement of services, communication and consultation, financial obligations, debt recovery, insurance, carrying out repairs and maintenance and complaints resolution)
What happens next?
The Scottish Government is now considering the findings and whether the respective changes are to be taken forward. We’ll be sure to keep you updated but, in the meantime, to see the full analysis and other related documents, please head to the Scottish Government Citizen Space website.