Cyclical Maintenance Fund
The Title Deeds to some of the properties we factor allow for the building up of a cyclical maintenance fund.
If the Deeds allow we will add a £10 cyclical maintenance fund charge to each quarterly invoice for the property. This fund builds up and the property owner will receive a regular statement of how much is in the fund. When internal works such as close painting which happen every seven years (ie on a cycle hence the name of the fund) are carried out then the money in the fund is used to offset the charge to the property.