Frequently Asked

Buying your Flat

What is a float deposit ?

A float deposit is a sum of money, currently £50, paid to us when you purchase the flat.

What is the float deposit used for ?

The float deposit is used to pay contractors invoices before you are invoiced for your share on your quarterly invoice.

Do I get my float deposit back?

Yes. When you sell your flat the float deposit is refunded on your final account.

Repairs

What is a common repair ?

A common repair is a repair to any of the common parts of the property e.g. the roof, outside walls, gutters, downpipes, mains water pipes and common close. Each owner will be responsible for paying their share of the cost of the repair.

What is a private repair?

A private repair is a repair within your flat which includes walls, ceilings, water pipes and branches leading to downpipes.

Will you obtain quotes for repairs?

We will obtain 3 quotes for major repairs for which the cost is more than £150 per flat. The 3 quotes will then be circulated to all of the co-owners.

Why am I being asked to pay for a repair before it has started ?

For any major repairs costing more than £150 per flat we will require to collect funds from all of the owners before we instruct the contractor to proceed. This is so that we have funds to pay the contractor on completion of the work.

Making an Insurance Claim

How do I make an insurance claim?

If the claim is for damage to your flat then please phone our dedicated Loss Adjusters on 0141 781 4691.

If the claim is for the common parts of the property then contact our office and we will initiate the claim on behalf of the co-owners.

Selling Your Flat

What is a retention?

A retention is a sum of money that is held by your solicitor to cover your final common charges account.  This sum could also be lodged with us if your solicitor is not able to hold a retention.

This will include all charges for repairs and maintenance which have been instructed or completed before the date of sale, or repairs which we are collecting funds in advance from the co-owners, as well as repairs which are in contemplation before the date of sale.

As this is an estimated amount, when the final account is produced the remaining balance of the retention, if any, will be refunded to you.

What is an apportionment fee?

When you sell your flat we will liaise with your solicitor and we will apportion your account to your date of sale for which we charge an apportionment fee which is currently £50.

Payment Methods

How can I pay my invoice?

You can pay your invoice by posting a cheque, by credit/debit card over the phone or through our website, by cash at our office or by BACS to Sort Code – 80:15:59, Account No. 00159500.