Property Factors (Scotland) Act 2011
The Property Factors (Scotland) Act 2011 aims to protect homeowners by providing minimum standards for property factors. All provisions of the Act came into force on 1 October 2012 and apply to all residential property and land managers whether they are private sector businesses, local authorities or housing associations.
The Act has three main elements:
- A compulsory register of all property factors operating in Scotland
- A code of conduct that sets out minimum standards of practice with which all registered property factors must comply
- A new route for redress: the Homeowner Housing Panel. Homeowners will be able to apply to the panel if they believe that their factor has failed to comply with the code of conduct or otherwise failed to carry out their factoring duties.
Further information can be found at www.scotland.gov.uk/Topics/Built-Environment/Housing/privateowners/propertyfactors/2011Act#