Management Company

efahey

Hi,

Looking for recommendations for a management company for apartment block? Residents are looking at possibly changing providers and are looking for the names of good providers in dublin.

Thanks

athtrasna

You're looking for a management agent not a management company - the management company is the legal entity comprising all owners.

As for recommendations, we've had two agents. One we fired for being useless, the other one I would have recommended up until about eight months ago but service levels have dropped. They're better than our first ones but I'm not going to recommend them until service levels improve.

efahey

Yea sorry meant management agent.

Thanks for the reply anyway, can I ask the names of the two companies you would not recommend.

Skybarbie

Hi ashtrasna,

Our mgt company is absolutely dire and due to them taking absolutely no action on non fee payers they have brought us into substantial debt. I was wondering if you have any advice on how we go about sacking them and starting afresh with a new agent. Does the debt they have accrued transfer to a new agent?

athtrasna

Who are the directors of the management company? Is it the builders or have owners taken control. Have you had an AGM? Have you attended?

Unpaid fees are due to the management company, the agent is responsible for administration of the development and fee invoicing/collection. If an agent is replaced the debt is still due to the management company.

Skybarbie

The directors are the builders but they want nothing more to do with the development. The mgt co are eager for us to volunteer as directors but as we have not been advised of the legalities involved nobody wants the responsibility.
We need to get rid of the mgt company, not the agent. And I want a company to manage us as a individual block as we cannot rely on other blocks to pay.

athtrasna

Skybarbie wrote: »

The directors are the builders but they want nothing more to do with the development. The mgt co are eager for us to volunteer as directors but as we have not been advised of the legalities involved nobody wants the responsibility.
We need to get rid of the mgt company, not the agent. And I want a company to manage us as a individual block as we cannot rely on other blocks to pay.

The management company is a legal entity comprising all owners in the entire development. You are a member of that company. You cannot get rid of the management company but it does sound like you need to change the directors.

RIRI

I have sent you a PM with the contact details for the agent we use. We have gone from being 10k over drawn when he took over to having a substantial sinking fund. The estate is well maintained & our agent is very creative when it comes to debt collection & maintaining standards.
Best of luck

efahey

Skybarbie wrote: »

Hi ashtrasna,

Our mgt company is absolutely dire and due to them taking absolutely no action on non fee payers they have brought us into substantial debt. I was wondering if you have any advice on how we go about sacking them and starting afresh with a new agent. Does the debt they have accrued transfer to a new agent?

Hi skybarbie,

In terms of getting rid of the management agents there are a few things that I would checkout, first is are the directors active ones and if not try and get new directors onto the company (we have changed directors and much easier to deal with management agents with just the four of us), if you can do that then that will be half the battle. It will give you much more strength we have gone from debt nearing 70k to this year should have profit with money in sinking fund in about 2 yrs. We had same concerns about taking on the roll with the debt, get them to take out insurance for the directors that will allow the directors cover against any money liable to the company. But trust me the more owners that are directors the more control yo have.
Other thing to check is that does the management company have a contract with the management agents which legally they should under MUD act but lots don't, ours doesn't have it that is why we are thinking about changing or at least looking at what else is out there.
Each development has a management company which each owner s member so you can vote on issues such as agents. In that regard the agents only run the coman so any debts remain with the company and are nothing to do with the agents. As for non collection of fees, ask management agents if they have sent legal letters out for them or do they used debt collection agents, which does work. Other thing n long run all management fees will at some stage have to be paid, legally a sale of an apartment cannot be completed until the outstanding money owed n management fees are paid, probably no comfort at the moment though.

If you have any questions or other thoughts pm me and hopefully I can answer them.

Lantus

RIRI wrote: »

I have sent you a PM with the contact details for the agent we use. We have gone from being 10k over drawn when he took over to having a substantial sinking fund. The estate is well maintained & our agent is very creative when it comes to debt collection & maintaining standards.
Best of luck

all creative ideas for debt collection welcomed! Please PM me if you can offer any advice that we could use to our advantage.

Lantus

Skybarbie wrote: »

The directors are the builders but they want nothing more to do with the development. The mgt co are eager for us to volunteer as directors but as we have not been advised of the legalities involved nobody wants the responsibility.
We need to get rid of the mgt company, not the agent. And I want a company to manage us as a individual block as we cannot rely on other blocks to pay.

As mentioned you cannot get rid of the company as it is bound into the lease documents of every property and unit. If you neglect it the value of your property will plummet and could be unsellable. As only the company can purchase block insurance as the legal building owner you could invalidate your mortgage. Managing your company is just as a important as making mortgage payments or investing in internal décor in your unit.

As for being advised its typically a self starter process. Directors by nature are people who stride forwards rather than sitting waiting to be told what to do. People who step up to make a difference. (it only takes one.)

All the info you need is within 3 documents. The ODCE handbook on management companies. Write or email them and they will post you a copy for free or you can get it online. Your articles of association, and your contract lease documents along with the others for the different unit types. Other than that its about asking for help and finding things out. No one starts out as an expert, they become one through necessity. There is a dedicated forum on ask about money and the apartment owners network is also a good place to get guidance.

Skybarbie

RIRI wrote: »

I have sent you a PM with the contact details for the agent we use. We have gone from being 10k over drawn when he took over to having a substantial sinking fund. The estate is well maintained & our agent is very creative when it comes to debt collection & maintaining standards.
Best of luck

I have not yet received this pm???

SHOVELLER

Grateful for any views on a management agent called Sage Property Management.

Do they manage apartment complexes in Dublin?


Thanks

athtrasna

No but their website is atrociously poor and lacking in information such as testimonials, background information on the directors or a list of properties managed. Neither does it give information on their registration. Not professional at all.