Invoices, payments and account queries
It is important that owners are aware of the financial arrangements surrounding their factoring agreement.
Sections on this page
Payment of costs associated with management of your property
Subject to the availability of owners' funds, we arrange payment for all costs associated with common areas, such as repairs and maintenance, insurance premiums, common lighting and passenger lift services (these are detailed within the Deed of Conditions).
Invoices
Our invoices are usually issued quarterly or six monthly depending on the terms of the Deed of Conditions. Invoices detail the expenditure that has been incurred on the owners' behalf over the preceding billing period.
Costs may fluctuate between each billing period depending on the type of work undertaken and the services provided.
Factor's property float
The 'factor's property float' is a payment made to Link by each owner, usually at the time of purchase of their property or with payment of the initial common charge invoice.
As common charges accounts are issued to owners after we have settled accounts to contractors and insurers, the factor's property float is used to meet these costs.
The amount owners are asked to pay into the factor's property float is periodically reviewed. It is returned if no outstanding amounts are due.
Debt recovery
Link will take action to recover bad debts and prevent the acccumulation of high arrears since they place an unfair burden on joint owners in the block or estate.
We have a strict procedure for dealing with unpaid communal charges. Invoices must be paid within 28 days of their issue date. After this period, court action will be raised against all debtors.
Queries about your account?
If you have any queries about your account, please contact the Property Management team.