Question reference: S4W-30406
- Asked by: Kevin Stewart, MSP for Aberdeen Central, Scottish National Party
- Date lodged: 8 March 2016
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Current status: Answered by Margaret Burgess on 17 March 2016
Question
To ask the Scottish Government when it (a) last reviewed and (b) will next review the legislation on property factoring and under what circumstances it would consider changing it.
Answer
The Property Factors (Scotland) Act 2011 came into force on 1 October 2012 and provides protections for homeowners who use the services of a registered property factor.
The current legislation has been operating for just over three years and no review has taken place to date. There are also no current plans to review the Act, but a review of the code of conduct for registered property factors established under the Act is planned to start in 2016. The code sets out minimum standards of practice which all registered property factors are obliged to comply with.
We will engage with property factors and homeowners so that they can play a key role in the review and developing any revised code of conduct. Any revised code would also be subject to public consultation and approval by the Scottish Parliament. We are also happy to work with the industry and others with a view to identifying any other ways to strengthen the Act.