The Property Factors (Scotland) Act 2011 came into force on 1 October 2012 and provides protections for homeowners who engage with a registered property factor. The Act introduced a Code of Conduct which sets out minimum standards of practice which all registered property factors must adhere to.
The Scottish Government have a responsibility under the Act to prepare an appropriate code of conduct setting minimum standards of practice, linked directly to the legislation, and which all factors must work to. Existing legislation has been in operation for over four years. There are no current intentions to review the Act, but a review of the Code of Conduct is presently in operation.
Working in conjunction with the Industry, generally, we are instrumental in assisting Scottish Ministers with views on how the current code may be strengthened in the best interests of our homeowner clients throughout the country.
