Management Fee

You will be charged either a fixed management fee or a variable management fee as set out in your Statement of Factoring Services. This is designed to cover Abertay’s cost of providing the services and is not intended to make a profit.  The fee is reviewed annually.

Outline of Services included in the Variable Management Fee

  • Arrange communication with owners.
  • Tender and appoint contractors.
  • Supervise contractors and monitor contractors’ and consultants’ performance.
  • Pay contractors.
  • Issue bills to owners.
  • Maintain owners’ accounts.
  • Deal with owners’ queries and correspondence.

The variable management fee is currently 15% of costs subject to a minimum charge of £7.50 and a maximum charge of £125.

Outline of Services included in the Fixed Management Fee

  • Carry out regular maintenance inspections.
  • Keep lists of approved contractors and ensure all works are carried out at competitive rates, safely, competently and timeously.
  • Arrange any maintenance of, or repairs to, the common parts and if necessary any renewal or replacement of the common parts
  • Ensure that the close, landings, stairs and bin areas are kept clean tidy and regularly painted.
  • Maintain safety equipment located within common areas such as emergency lighting, smoke detectors, fire alarm systems etc.
  • Where required, set rotas for cleaning the close or employ a contractor / cleaner to clean the close.
  • Apportion the costs of any common electricity supply for stair lighting or the lighting of any other common parts.
  • Arrange owners meetings or communication with owners.
  • Tender and appoint contractors.
  • Supervise contractors and monitor contractors’ and consultants’ performance.
  • Pay contractors and suppliers.
  • Issue bills to owners.
  • Maintain owners’ accounts
  • Deal with owners’ queries and correspondence.

The fixed management fee is currently £125.