Property Management - how to change?

Paulw

As a unit owner, you are entitled to see the accounts, and exactly how the money is being spent, and what is being collected.

Then you have the articles of association of your management company, plus the Companies Act to give you power as a member of the company. On top of that is the Multi-Units Development Act.

Plenty of reading for you. Knowledge is power.

Of course you can do something, but having other unit owners on your side is always a good way to go. More power with more people all wanting the same thing. For landlords - a better quality development brings in higher rent.

ellaj

Exactly Paul
Thanks a million.

Lantus

OK, re the accounts if you don't have them so onto the CRO and with the company name (usually my-estate management company ltd) and check that it is the right one. (NOT the agent)

You can now get the say the last three years of accounts and the B10 director form which will give you the name and addresses of the directors if they don't have a separate company contact.

The account based on your knowledge of service fees will give you a rough idea of what percentage are paying each year. Has this gone up, down or remained the same. Non payment is a huge problem as companies only have that which is paid to them each year.

Write to the Directors and request the members register which is the name and address of every member in the development which they are obliged to provide by law (See ODCE handbook.) This provides you some leverage as to contacting other owners to develop support. It may also shed light on other problems like lots of the addresses still down as the unit in the development. If they are all rented this means the documentation is not going to where the owner lives. Basically the company no longer has any direct contact with the owner. Huge problems and owners are responsible for this.

Scrutinise your budget to see what is allocated each year. Has anything over the last three years been done or are the same things coming up every year as a wish list.

I guess the nest step is looking at lease enforcement. If you are apartments (and I assume you are based on the fee.) then subject to the contract lease the OMC may need to start looking at taking away services such as TV and satellite (the right to use the companies wall to mount such a device.) and even a right of access if the entrance is a common entrance and owned by the company. This is drastic but bear in mind the landlords have no problem taking money. If there are other services such as parking or anything else then use it as the contract stipulates. If not then the cost will be even more in future years as a run down building will cost much more to look after if left to neglect.

Being a director along with others gives you a chance to enact these changes as well as make savings or refocus the company's aims and objectives. A new agent could be an option but don't blame it all on them. The best agent in the world can do nothing without service fee income!

Finally look at court action where non payment is not forthcoming in at least a few cases. Ideally where you know that owners have the money (some background checking is required.) and are just engaged in deliberate avoidance. You cannot get something where people have nothing court order or not.

Read your articles of association which is on CRO and the ODCE handbook on OMCs which is free online as well as the MUD act (free online.) Those three documents are the backbone of knowledge and in conjunction with the unit contract lease documents you have virtually everything you need to understand and if a director run a development.

athtrasna

ellaj wrote: »

My question is: where is my annual management fee - 1600e?
I am for 3 months here and I want to change something. I do not need to be a director. I have a good job and hobby. I know how to spend my free time.
What I need is peace and quiet.
But I do not like to pay for nothing.

Nobody else will protect your investment better than you can. I became a director because I wanted to ensure that our development was well run, well looked after and a pleasant place to live. It sounds to me like you want the same thing. So you do need to get involved, you can't rely on others to do it for you.

jd

"Macfar" appear to be just management agents
http://macfar.ie/

ellaj

Lantus, thank you for your advices. I really appreciate.

Athtrasna, I agree with you. Thank you

ellaj

Jd, I do not know who they are. The agents probably.
But in all documents they are a management company as well.

jd

ellaj wrote: »

Jd, I do not know who they are. The agents probably.
But in all documents they are a management company as well.

They are not the Owners' Management Company.
Do a search on www.CRO.ie for "your development name" - you may find the actual OMC there.

Lantus

On the issue of non resident unit owners and missing addresses one tactic is to write to the last address and the unit address ( in the hope that the tenant passes mail on) and give say 20 days or else you will write to the PRTB, revenue, Dept.Welfare and their mortgage provider (get this for 5quid off land registry) to explain to them that the property has been rented out since xx/xx/xx and the owner no longer lives there.

If they ARE PRTB registered you can make a request for their details. If not then they are added to list of people to be dealt with by PRTB. Doesn't help the OMC that much. I find it has been slightly helpful in getting some info but also adds a lot of paper work. If they are not declaring that income to revenue then it helps ensure tax revenue goes to essential services like hospitals rather than landlords who think the law doesn't apply to them. Mortgage providers will normally require notification and landlord insurance rather than normal insurance. Again if its all on the sly it causes the landlord a headache which is worth it. Then take down their dish and change the common entrance access subject to your contract lease and very stringent board oversight and notification and due diligence.

jd

One other thing, if you search for your company name at
http://www.solocheck.ie/
you will see director names without a payment

ellaj

Jesus! Too much information
Thank you guys.

jim-mcdee

I think I know the development you are talking about. You are not the only owner occupier, but there are only a few. It is a disgrace what is happening there, but the root of the issue is non payment of management charges. No money in the kitty.

ellaj

They told me they have no problem with the payment. Lies!
I told them to lock the gate up and give fobs to people, who paid the management fee only.

jim-mcdee

They are doing a big upgrade in the next couple of months. Hopefully the place will not be destroyed before then, as it is getting worse day by day.

Paulw

ellaj wrote: »

They told me they have no problem with the payment. Lies!

Your accounts should show this. You should get a full copy of accounts, which should show the incoming money, and outgoing funds. You should also check what funds are in the sinking fund.

ellaj

Paul, is that the report on CRO for 3e? B1?

Paulw

You shouldn't need to get it from the CRO. The management agent should supply it to you, for free. It is company information you should get each year, before the AGM.

But, yeah, the B1 annual returns should have information, but not nearly as much as the accounts you are due.

ellaj

They are still waiting for the accounts.

Paulw

Get last years, and the year before. That will give you an idea of how solvent the company is.

Not surprising that the 2014 figures aren't done, depending on the company year. Ours is 1st Jan to 31st Dec, so won't have our stuff done until early 2015.

ellaj

Thanks Paul.
I will ask them for the previous year as well.