Date: 28 Aug 2024
Property owners of multi-unit developments invited to attend information evening
Owners of apartments and properties in other multi-unit developments (MUDs) are invited to attend an information evening that aims to help them take a full and active role in their owners’ management companies (OMCs).
Hosted by The Housing Agency, the event takes place at the Clanree Hotel in Letterkenny on September 18 at 7pm and is open to members of OMCs, and anyone else involved with apartments or MUDs. It will look at stakeholders’ roles and responsibilities and the supports available to them.
OMCs are responsible for looking after the shared spaces, facilities and services in a housing development, such as an apartment block.
David Rouse, Multi-Unit Developments Adviser with The Housing Agency, explains: “The OMC is responsible for the repair and maintenance of the common areas of the estate, for example lifts, corridors, hallways, stairs, gardens and car parks.
“Services for which it is responsible include building insurance, security, cleaning and waste management.”
The OMC is owned and controlled by all the home-owners in a development and owners are automatically made members of the OMC when they buy their property. The members then elect OMC directors.
OMCs can face a range of issues, including making sure owners pay their annual service charge on time and in full, putting money away in a sinking fund to replace parts of the building such as lifts or roofs, appointing a good property management agent to look after the day-to-day running of the development, and dealing with construction defects.
“The directors of an OMC, though usually volunteers, bear the ultimate responsibility for the management of the company, to ensure that it fulfils its purpose,” says Mr Rouse. “Their role, therefore, can impact on the value of properties as well as the quality of residents’ living environment. Teamwork, communication and basic finance skills can help people to act effectively as directors of an OMC.”
While in most cases OMC directors are supported by the skills and experience of a licensed professional property management agent, they must still be familiar with the laws and regulations around running an OMC.
The Housing Agency is running a series of information evenings around the country during September and October, which are aimed at people involved with apartments and multi-unit developments. Among the issues raised by OMC members at previous events were problems with service charge collection, dispute resolution and understanding company law and directors’ duties.
While attendance at the information evenings is free, registration is required. More information can be found at https://www.housingagency.ie/news-and-events or by emailing MUD@housingagency.ie.
