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In February 2021 we updated you on the draft legislation that was published to ensure property factors follow consistent standards
In July 2021 the Scottish Government published the final version of the new code of conduct for property factors. This replaced the original code on 16 August 2021.
The code sets out the minimum standards of practice that registered property factors must adhere to in the provision of their services and encourages transparency in the way that they conduct their business. The new code also aims to improve clarity and flexibility for property factors in Scotland.
All registered property factors are required by law to ensure compliance with the code.
As a reminder, some of the key features of the new code are:
View the full code here Property Factors (Scotland) Act 2011: Code of conduct for Property Factors
The new code is now in force and must be adhered to by all Property Factors in Scotland. For our advice on how to prepare for the new code, contact Louise Gould, Operations Manager in TLT's Commercial Dispute Resolution team in Scotland.
This publication is intended for general guidance and represents our understanding of the relevant law and practice as at August 2021. Specific advice should be sought for specific cases. For more information see our terms & conditions.
16 August 2021
Videos 21 NOVEMBER 2023