Accounts & Payments
Issuing of Accounts
Factoring invoices will be issued Factoring invoices will be issued in May, August, October & January,
Invoices will include:
- Management fee
- Estates service fee
- Share of any common repairs
- Planned maintenance
- Service charges
- Building insurance premium
Payment Methods
Invoices should be paid quarterly or monthly by Direct Debit. Milnbank Property Services offers the following methods of payment for factoring accounts:
Direct Debit
Our preferred method of payment is monthly Direct Debit. This can be set up over the phone, contact the office with your bank account details and a member of staff can set this up without you having to come into the office to sign any paperwork.
Standing Order
Please contact the office if you would like to set up a Standing Order.
Debit/Credit Card
In the office or over the telephone.
In person at the office
By Cheque
Payable to Milnbank Property Services Ltd.
Should you have any queries regarding payment of your account, please contact the Factoring Team as soon as possible.
Owners should remember that Milnbank Property Services Ltd have already paid the building insurance premium and contractors up front, in advance of issuing your invoice. Therefore, prompt payment of your account is necessary for the service to continue.
Milnbank Property Services Ltd is VAT registered with HM Revenue and Customs in order to meet the terms of VAT legislation.
A flat fee of £50 plus VAT will be charged to lending authorities requesting copies of key documents in relation to renovation works.
