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Substantial increase in Management fees - no explanation

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    #32
    pwurple
    Closed Accounts Posts: 12,449 ✭✭✭✭pwurple


    gebbel wrote: »
    All legal outlay in the pursuit of non payers should be attributed to them, not the OMC. This policy can also be an effective disincentive to those who for whatever reason decide they can just walk away from paying their fees without consequence.

    That would be nice wouldn't it. You can't get blood from a stone however, and we have had issues where a unit eventually accrued more fees than the unit itself was worth.

    Extremely painful from a legal perspective.

    It remains vacant, unoccupied, and falls into ruin, decreasing the value of surrounding units. The owners won't bother going to the effort of selling it, because the whole value is owed to either of both the bank AND the OMC. It's immoral from my perspective, especially when there are people crying out for housing, but this is what some people do.


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    #33
    Dav010
    Registered Users Posts: 14,002 ✭✭✭✭Dav010


    gebbel wrote: »
    All legal outlay in the pursuit of non payers should be attributed to them, not the OMC. This policy can also be an effective disincentive to those who for whatever reason decide they can just walk away from paying their fees without consequence.

    Firstly, if the owner can’t/won’t pay, what use is attributing costs to them? Secondly, solicitors want to be paid, they will not wait 5 years for the property to be sold so they can get their money. Multiply those costs by a few errant owners, then every else pays a levy for the folly of court action.


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    #34
    A City rising
    Registered Users Posts: 12 ✭A City rising


    Apologies for bringing back a zombie thread but just wanted to ask people for their opinions.


    TLDR. Am I allowed attend an AGM for a management company if I'm not an owner.

    My mother owns an apartment in Dublin. The minutes from the last AGM (December 2022 ) state their would be no increase in fees.

    The fees fall due in October 2023 and 2 weeks ago letter stated they need to increase by 20%. They have also introduced a late fee if not paid on time.

    She wants to attend but doesn't want to cause a fuss and would like if I spoke on her behalf.

    Thanks



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    #35
    Del2005
    Registered Users Posts: 18,871 ✭✭✭✭Del2005


    https://www.boards.ie/discussion/comment/121179294#Comment_121179294

    IIRC she can appoint anyone to be her proxy, she just needs to fill in the proxy form that came with the letter for the AGM.

    Have you read the minutes of the last AGM as that will have where they agreed to the 20% increase.



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    #36
    A City rising
    Registered Users Posts: 12 ✭A City rising


    https://www.boards.ie/discussion/comment/121182127#Comment_121182127

    Thanks that makes sense.

    I read the minutes from the AGM in December 2022 which said

    "Management fees were agreed to be held at the same level as previous year."

    1 thing that may ( or may not) be unusual is that the AGMs are in December and the fees are then due in October



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    #37
    Dav010
    Registered Users Posts: 14,002 ✭✭✭✭Dav010


    https://www.boards.ie/discussion/comment/121182691#Comment_121182691

    The AGMs can be at any time during the year, as can the date set by the OMC for fees payment. It’s possible the increase relates to the sinking fund if there was an unexpected large outlay during the year. Your mother can write to the Board or managing agent requesting clarification. Or ask her neighbours if they know anything about it. It won’t be anything nefarious as all expenses will have to be explained at the next AGM, and there is a legal obligation to pay the fees set by the OMC.



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