Changing Industry – Property Managers Association Scotland

PMAS is a trade body that represents 34 of the commercial sector factors in Scotland, plus 3 that are ‘not for profit’ / RSL based. Members include some of the largest factoring companies and the total housing stock with communal property interests represented by members is 213,000. 

PMAS aims to promote the efficient management and factoring of property and the education and training of Property Managers, to help improve factoring standards throughout the sector. The Association holds an annual conference each Autumn, together with regular industry related seminars and briefings, with the objective of improving the understanding of member firms of current issues of concern or interest within the sector. It publishes information to members by email and through its website www.pmas.org.uk

The introduction of the Property Factors (Scotland) Act in 2011 brought about a more detailed understanding of the extent of factoring within Scotland, when the collated information became known and that 554,966 properties were managed by 297 factors*. The introduction of the Home Owners Housing Panel, (HOHP) to manage the code of conduct for factors, clarified the low level of grounds for complaint amongst factored owners, with their factor, and helped highlight the issues that are not within a factors current remit to be able to resolve. 333 applications were received in 2013, with 148 of these from a single development, indicating 186 individual issues. These included 55 that were rejected – 69%, because they were vexatious/frivolous or, the factor had not been afforded reasonable opportunity to resolve.

This evidence of the low level of complaint issues mirrored previous findings in the Office of Fair Trading report; Property Managers In Scotland – A Market Study 2009. Amongst the HOHP case resolutions, owners sought solutions that HOHP (and the Factor) are unable to provide, such as changes to their title deeds.

* All figures quoted, unless otherwise detailed, from HOHP Annual Report 2013

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Registered Name: Life Property Management Ltd. Registered in Scotland SC253869. VAT Reg No 827 5010 46. Property Factor Reg No PF000203. Registered Office: 11 Somerset Place, Glasgow G3 7JT. Life Property Management Ltd is an appointed representative of Arthur J. Gallagher Insurance Brokers Limited which is authorised and regulated by the Financial Conduct Authority.  Registered Office: Spectrum Building, 7th Floor, 55 Blysthwood Street, Glasgow, G2 7AT.  Registered in Scotland.  Company Number SC108909.

 

Deacon is a trading name of Arthur J. Gallagher Insurance Brokers Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: Spectrum Building 7th Floor, 55 Blysthwood Street, Glasgow, G2 7AT.Registered in Scotland. Company Number: SC108909.