1. Get quotes from other factor(s)
Remember to include (where applicable):-
2. Invite all owners to a meeting
Ask your preferred new factor to help you with the details if necessary.
Make sure you invite every owner, even if they don't attend.
3. Put the removal of your current factor (where applicable) to a vote.
Put the appointment of the new factor to a vote.
Note details of all attendees, and record details of the meeting.
4. Let your outgoing factor know, they will give you a final day of service.
At the same time, inform your new factor you would like to start services.
Interested in receiving a factoring quote?
Remember: either your title deeds or the 2004 Act will give you the legal right to terminate your factor's appointment. The property belongs to you, and the decision on who you pay to manage your property is also yours. Of course, we are on hand to advise. Just pick up the phone or send us and email and we will do our best to help.