Self Factoring

Many flats are self –factored.  To get the best experience from this, you need to be well organised and prepared to call on professional help when required.

Many buildings self factor as the owners feel they can do a better job than an outsider and can save money at the same time. Self factors do not need to be registered under the Property Factors Act 2011, as long as they are not doing this on a commercial basis (ie charging owners for their time).

But there are many grumbles:

  • some people can feel put upon when other owners don’t do their share or refuse to co-operate
  • there may be no system to cover admin costs so some owners – often the more active ones - pay more than their neighbours
  • some builders are reluctant to work with self-factors, fearing they won’t get paid
  • it can be difficult to manage some tasks
  • it can be hard to do when there are many absentee owners

Those who have the best experience from self-factoring

Next steps

Set up an Owners Association

Set up a maintenance account