management in MUD

beaufoy

Taking over management in unit of four apartments in a MUD of 200 apartments. Now I believe this can be done in England but Ireland I am not so sure. If the management company and/or omc are found to be too keen to collect money for maintenance, but very reluctant to spend said money on Maintenance then property owners can apply to take over the management of their own unit. Of course with ground space and roofing to take into consideration the caveat has to be that all owners in a unit have to agree. Hence

if the 200 apartments contain 20 buildings each of 10 apartments. Then the 10 apartment owners have to agree.



If the 200apartments contain 100 buildings each containing 2 apartments then the 2 apartment owners have to agree


Does the above work in Ireland if yes how can it be done

Baby01032012

Don’t think so. It would be against the head lease. Why don’t you just request an EGM or attend the AGM and put motion to remove board or get yourself voted on to the board and do something about the issue. What is the issue? How do you know money is not being spent on repairs? Is there a management agent implementing the budget? Has money been allocated to these repairs? What’s the sinking fund like?

antoinolachtnai

It might be possible but it is going to cost a lot of money. If the management company doesn’t agree (and maybe even if it does) there will be a trip to the High Court. Even without a court visit the new smaller company is going to have to meet its own legal fees and those of the larger company in full and up front. I can’t see this costing less than twenty grand.

Maybe you could make an arrangement with the management company that the residents in your block will take care of some part of their own cleaning and maintenance?

Del2005

beaufoy wrote: »

Taking over management in unit of four apartments in a MUD of 200 apartments. Now I believe this can be done in England but Ireland I am not so sure. If the management company and/or omc are found to be too keen to collect money for maintenance, but very reluctant to spend said money on Maintenance then property owners can apply to take over the management of their own unit. Of course with ground space and roofing to take into consideration the caveat has to be that all owners in a unit have to agree. Hence

if the 200 apartments contain 20 buildings each of 10 apartments. Then the 10 apartment owners have to agree.



If the 200apartments contain 100 buildings each containing 2 apartments then the 2 apartment owners have to agree


Does the above work in Ireland if yes how can it be done

Since management companies aren't supposed to make a profit and have multiple items that have to be paid you'll find that if they aren't doing maintenance it's because property owners aren't paying their fees. That's also why they are usually keen to collect the money.

You run the risk of getting the non paying members in your new OMC and then the fun will start. You also loose the benefits of size when negotiating with suppliers so your management fees would increase massively

Lantus

Primary contract lease binds all members into company. In theory you could set up a separate company for a completely separate block but the legal challenges and costs would be substantial.

Economies of scale with smaller group would be awful. You'd pay a little less for insurance and no less for other costs split between fewer people. Costs would skyrocket and any non payment would have a huge effect.

You haven't thought this through.....