Paying for repairs
Repairs are inevitable and need to be tackled quickly before more damage is caused. Ideally, you will have saved a cash reserve for such occasions. Otherwise, you will need to…
Repairs are inevitable and need to be tackled quickly before more damage is caused. Ideally, you will have saved a cash reserve for such occasions. Otherwise, you will need to…
Maintaining a common bank account to hold advance payments for repairs is recommended. This account could be managed by your owners' association or property manager. Creating a Building Reserve Fund…
You are obliged by law to have adequate common insurance. This is to cover your share of the costs of major and expensive damage to your building. You need to…
Building Reserve Funds (also known as Sinking Funds) are a type of fund set up to pay for repairs. Key points about Building Reserve Funds all owners pay in on…
Repairs are inevitable and need to be tackled quickly before more damage is caused leading to bigger bills, possibly affecting the value of your property. Grants for repairs are seldom…
Your titles may set out the share to be paid by each owner in a number of ways. The most common ways that costs are shared are by: equal shares…
Problems may occur where flats have been subdivided, merged, or enlarged into the loft or basement after the title deeds were drawn up. Ideally, title deeds for all flats should…
If there is nothing in your title deeds or your deeds are unworkable, follow the guidance in the Tenements Act. The Tenements (Scotland) Act says that you should share repair…
You and your fellow co-owners can agree to divide shares differently to what is stated in the titles. Ideally, you should all sign an agreement that you are going to…
Owners may feel aggrieved if one owner, their visitors, or tradespeople they have employed, have caused damage to the common property. Ideally, the owner concerned should pay for the damage,…
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