PROPERTY INVESTOR - In today's Irish Times, Aisling Keenan speaks out on the Governments new Multi-Unit Developments Act 2011 - A.K. Property Services, the Ireland-wide property management agents

PROPERTY INVESTOR - In today's Irish Times, Aisling Keenan speaks out on the Governments new Multi-Unit Developments Act 2011

Submitted by Aisling Keenan on Thu, 04/28/2011 - 08:21.

Pat Igoe writes for the Irish Times as follows:

New laws set clearer rules for apartment management companies - but managing agents are still not regulated.

Expect the figures from Census 2011, when they become available, to confirm what most of us suspect - that apartment living has taken a serious hold in modern Ireland. The most-quoted figure of 500,000 people now living in apartments may even be an under-estimate.

Many apartment owners are now increasingly worried about the management of their developments and the financing of necessary services, such as grass-cutting and essential repairs. It is for this reason that the new statutory protections in place since April 1st for apartment owners and dwellers are already being carefully watched for results.

It is widely agreed that the Multi-Unit Developments Act 2011 will help the increasingly troubled apartment residential sector. Only weeks into the new legislation, its beneficial effects are already being noticed.

But it is a case of only two cheers. Despite the broad reach of the new law, managing agents, who may be engaged by the management companies to operate the day-to-day running of apartment complexes, are still unregistered and unregulated. This is widely recognised as a major exposure, even if it is one that is due to be soon closed.

If an annual service charge of €500 per apartment is taken as an average figure (and some apartment complexes go as high as €2,500 per year), the annual sums passing from apartment owners to managing agents is clearly in excess of €50 million. It is a case of so far, so honest.

"The new law is already helping because it sets clearer standards for apartment developments and give apartment owners control over their own developments" according to Aisling Keenan of AK Property Services. Paul Mooney of the Irish Property and Facilities Management Association (IPFMA) agrees. He says that "the door is more open than ever for people to take control of their own apartment complexes".

There has been a significant increase reported in the past few weeks since April 1st in enquiries from apartment owners about what they and their management companies must do to comply with the new law. They are being told: they must set-up meaningful sinking funds, with seperate bank accounts, to pay for necessary improvements or maintenance; house rules will have full legal enforcement in the Circuit Court; any new budgetary proposals will not proceed if 75 percent of votes at the compulsory annual general meeting are against them; and that there is a new mechanism for resolving disputes including the use of mediation.

But it is the dispute procedures in the new law, including access to the Circuit Court, that is already getting a lot of attention. Sadly, this is because of unprecedented difficulties in collecting the annual service charges from apartment owners. I is now a "massive problem", according to one agent.

Non-payment of the annual charge is leading to problems with providing services, such as cutting grass and maintaining accounts. Earlier this year managing agent CBRE was reported to have threatened to withdraw its services from an apartment complex in Sandyford, Co. Dublin because of unpaid management charges by apartment owners. This case is by no means unique.

Since coming into operation on April 1st, the act has been closely examined, in particular section 24. It provides that the management company (which is owned by all apartment owners) and the individual apartment owners are entitled to apply to the Circuit Court for an order enforcing any rights. The court must be told whether mediation has been attempted.

The new law points to greater transparency, but also to greater regulation. The Law Society is expected to give solicitors tighter audit rules to chartered accountants on monies passing through the accounts of managing agents.

Rubbish collection, repairing roofs, maintaining car parks, mowing lawns or paying insurance.... these services must all be paid for or they will be disconnected. Realistic enforcement of the annual management charges payable by apartment owners is already being seen as the first real test of the new legislation.

Bookmark/Search this post with:

industrial outdoor storage for sale (not verified) Says:
Mon, 12/25/2023 - 07:01

" '훌륭한 유용한 리소스를 무료로 제공하는 가격을 알 수있는 웹 사이트를 보는 것이 좋습니다. 귀하의 게시물을 읽는 것이 정말 마음에 들었습니다. 감사합니다! 훌륭한 읽기, 긍정적 인 사이트,이 게시물에 대한 정보를 어디서 얻었습니까? 지금 귀하의 웹 사이트에서 몇 가지 기사를 읽었으며 귀하의 스타일이 정말 마음에 듭니다. 백만명에게 감사하고 효과적인 작업을 계속하십시오. industrial outdoor storage for sale

레모나벳 (not verified) Says:
Mon, 12/25/2023 - 06:44

I was truly thankful for the useful info on this fantastic subject along with similarly prepare for much more terrific messages. Many thanks a lot for valuing this refinement write-up with me. I am valuing it significantly! Preparing for an additional excellent article 레모나벳

먹튀검증 (not verified) Says:
Mon, 12/25/2023 - 06:36

흠 !! 이 블로그는 정말 멋져요. 정말 운이 좋아 여기에 도달해서 멋진 정보를 얻었습니다. 먹튀검증

꽁머니 (not verified) Says:
Mon, 12/25/2023 - 06:22

I really enjoy simply reading most of your weblogs. Simply wanted to inform you that you've people like me who appreciate your work. Definitely a fantastic publish. The information you have provided is actually very worthwhile

검증카지노 (not verified) Says:
Mon, 12/25/2023 - 05:41

Anonymous (not verified) Says:
Mon, 12/25/2023 - 04:04

The Immediate Matrix app makes it easy to monitor all your trades from a single dashboard. More so, you can keep track of your trades on the go, thanks to its impeccable app. https://immediatematrix.io/

Anonymous (not verified) Says:
Sun, 12/24/2023 - 17:22

I have read all the comments and suggestions posted by the visitors for this article are very fine,We will wait for your next article so only.Thanks!clicksud

즐찾토토 (not verified) Says:
Sun, 12/24/2023 - 14:36

i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me 즐찾토토

exploringbest (not verified) Says:
Sun, 12/24/2023 - 14:22

The holiday season brings with it a magical atmosphere, and one of the most enchanting aspects is adorning our homes with festive decorations. As we approach Christmas, the desire to create a warm and inviting space becomes paramount. In this article, we'll explore the best home decoration ideas for Christmas, spanning from traditional to modern, DIY to sustainable, ensuring your home reflects the joy of the season.
preppy christmas wallpaper

1인샵 (not verified) Says:
Sun, 12/24/2023 - 14:19

Acknowledges for paper such a beneficial composition, I stumbled beside your blog besides decipher a limited announce. I want your technique of inscription. 1인샵

주인공벳 사이트 (not verified) Says:
Sun, 12/24/2023 - 12:37

I definitely enjoying every little bit of it. It is a great website and nice share. I want to thank you. Good job! You guys do a great blog, and have some great contents. Keep up the good work 주인공벳 사이트

팔로우벳 도메인 (not verified) Says:
Sun, 12/24/2023 - 10:26

i was just browsing along and came upon your blog. just wanted to say good blog and this article really helped me 팔로우벳 도메인

휴게소주소 (not verified) Says:
Sun, 12/24/2023 - 10:19

That appears to be excellent however i am still not too sure that I like it. At any rate will look far more into it and decide personally! 휴게소주소

저금통벳 (not verified) Says:
Sun, 12/24/2023 - 09:28

That appears to be excellent however i am still not too sure that I like it. At any rate will look far more into it and decide personally! 저금통벳

레모나주소 (not verified) Says:
Sun, 12/24/2023 - 09:24

The details you supply in your write-ups. Maintain sharing of this type info. I truly value your operate in this article. Below we are examining simply exactly how to the setup hp printer. You can resolve those concerns with the assistance of 레모나주소

먹튀검증 (not verified) Says:
Sun, 12/24/2023 - 08:59

흠 !! 이 블로그는 정말 멋져요. 정말 운이 좋아 여기에 도달해서 멋진 정보를 얻었습니다. 먹튀검증

카지노 올인토토 (not verified) Says:
Sun, 12/24/2023 - 08:54

완전히 흥미로운 블로그 게시입니다. 저는 종종 Diwali Bumper Lottery에 대한 내 프로젝트의 도움을 위해 귀하의 게시물을 방문하고 귀하의 슈퍼 쓰기 기능은 진정으로 당황스러워했습니다.이 게시에 대해 많이 감사합니다. 카지노 올인토토

페스타도메인 (not verified) Says:
Sun, 12/24/2023 - 08:40

에르메스주소 (not verified) Says:
Sun, 12/24/2023 - 07:27

That appears to be excellent however i am still not too sure that I like it. At any rate will look far more into it and decide personally! 에르메스주소

먹튀사이트 (not verified) Says:
Sun, 12/24/2023 - 06:56

완전히 흥미로운 블로그 게시입니다. 저는 종종 Diwali Bumper Lottery에 대한 내 프로젝트의 도움을 위해 귀하의 게시물을 방문하고 귀하의 슈퍼 쓰기 기능은 진정으로 당황스러워했습니다.이 게시에 대해 많이 감사합니다. 먹튀사이트

기가벳 (not verified) Says:
Sun, 12/24/2023 - 06:56

That appears to be excellent however i am still not too sure that I like it. At any rate will look far more into it and decide personally! 기가벳

마카오카지노 주소 (not verified) Says:
Sun, 12/24/2023 - 06:49

벳박스토토 (not verified) Says:
Sun, 12/24/2023 - 05:55

우리카지노계열 (not verified) Says:
Sat, 12/23/2023 - 15:13

I have read your article; it is very informative and helpful for me. I admire the valuable information you offer in your articles. Thanks for posting it 우리카지노계열

릴게임사이트 (not verified) Says:
Sat, 12/23/2023 - 14:54

I have read your article; it is very informative and helpful for me. I admire the valuable information you offer in your articles. Thanks for posting it 릴게임사이트

보증토토 (not verified) Says:
Sat, 12/23/2023 - 14:24

You actually make it look so easy with your performance but I find this matter to be actually something which I think I would never comprehend. It seems too complicated and extremely broad for me. I'm looking forward for your next post, I’ll try to get the hang of it! 보증토토

무료스포츠중계 (not verified) Says:
Sat, 12/23/2023 - 13:21

훌륭하게 작성된 기사, 모든 블로거가 동일한 콘텐츠를 제공한다면 인터넷이 훨씬 더 나은 곳이 될 것입니다 .. 무료스포츠중계

카지노커뮤니티 (not verified) Says:
Sat, 12/23/2023 - 12:43

Nice blog and absolutely outstanding. You can do something much better but i still say this perfect.Keep trying for the best. 카지노커뮤니티

토토사이트 (not verified) Says:
Sat, 12/23/2023 - 12:24

Admiring the time and effort you put into your blog and detailed information you offer!.
토토사이트

인밤 (not verified) Says:
Sat, 12/23/2023 - 11:16

That appears to be excellent however i am still not too sure that I like it. At any rate will look far more into it and decide personally! 인밤

온라인카지노 (not verified) Says:
Sat, 12/23/2023 - 10:20

Thanks for a very interesting blog. What else may I get that kind of info written in such a perfect approach? I’ve a undertaking that I am simply now operating on, and I have been at the look out for such info 온라인카지노

카지노사이트추천 (not verified) Says:
Sat, 12/23/2023 - 10:14

흠 !! 이 블로그는 정말 멋져요. 정말 운이 좋아 여기에 도달해서 멋진 정보를 얻었습니다. 카지노사이트추천

Anonymous (not verified) Says:
Sat, 12/23/2023 - 10:03

Detective Agency in Delhi (not verified) Says:
Sat, 12/23/2023 - 09:50

so nice or amazing content...
Detective agency in Delhi

페가수스주소 (not verified) Says:
Sat, 12/23/2023 - 09:40

That appears to be excellent however i am still not too sure that I like it. At any rate will look far more into it and decide personally! 페가수스주소

풀스윙사이트 (not verified) Says:
Sat, 12/23/2023 - 09:39

골드시티도메인 (not verified) Says:
Sat, 12/23/2023 - 08:50

골드시티도메인 (not verified) Says:
Sat, 12/23/2023 - 07:47

토토사이트 (not verified) Says:
Sat, 12/23/2023 - 07:44

완전히 흥미로운 블로그 게시입니다. 저는 종종 Diwali Bumper Lottery에 대한 내 프로젝트의 도움을 위해 귀하의 게시물을 방문하고 귀하의 슈퍼 쓰기 기능은 진정으로 당황스러워했습니다.이 게시에 대해 많이 감사합니다. 토토사이트

부천오피 (not verified) Says:
Sat, 12/23/2023 - 07:40

That appears to be excellent however i am still not too sure that I like it. At any rate will look far more into it and decide personally! 부천오피

먹튀검증 (not verified) Says:
Sat, 12/23/2023 - 07:18

훌륭한 읽기, 긍정업을 계속하십시오. 먹튀검증

인달 (not verified) Says:
Sat, 12/23/2023 - 07:11

That appears to be excellent however i am still not too sure that I like it. At any rate will look far more into it and decide personally! 인달

꽁머니 (not verified) Says:
Sat, 12/23/2023 - 07:08

훌륭하게 작성된 기사, 모든 블로거가 동일한 콘텐츠를 제공한다면 인터넷이 훨씬 더 나은 곳이 될 것입니다 .. 꽁머니

Anonymous (not verified) Says:
Sat, 12/23/2023 - 05:51

You there, this is really good post here. Thanks for taking the time to post such valuable information. Quality content is what always gets the visitors coming. Lexitoto

Call Girls in Islamabad (not verified) Says:
Fri, 12/22/2023 - 10:53

Book ISBBB Call Girls in Islamabad from and have pleasure of best sex with independent Escorts in Islamabad, whenever you want. Call and Book VIP Models.

pritychavda3 (not verified) Says:
Fri, 12/22/2023 - 05:46

nice one

안전놀이터 (not verified) Says:
Fri, 12/22/2023 - 05:20

This post has benefited me a lot and made me feel comfortable reading it. Your point of view is very pertinent. I agree with you very much. I hope you get better and better. 안전놀이터

bike packers (not verified) Says:
Thu, 12/21/2023 - 13:03

Anonymous (not verified) Says:
Thu, 12/21/2023 - 12:42

Great ?V I should certainly pronounce, impressed with your site. I had no trouble navigating through all the tabs as well as related info ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your client to communicate. Nice task.. roof cleaning poole

Goa Escorts Services (not verified) Says:
Thu, 12/21/2023 - 10:29

Nice Blogs Posting. Escorts Service in Goa |

Post new comment

Your name: *

E-mail: *

The content of this field is kept private and will not be shown publicly.

Homepage:

Comment: *

Input format

Filtered HTML

Web page addresses and e-mail addresses turn into links automatically.
Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd><b><i><hr><img>
Lines and paragraphs break automatically.

Full HTML

Web page addresses and e-mail addresses turn into links automatically.
Lines and paragraphs break automatically.
You may use [block:module=delta] tags to display the contents of block delta for module module.

More information about formatting options

CAPTCHA

Please type the letters and numbers you see in the image to prevent automated spam submissions.

              _                            
             | |                           
  _ __ ___   | |__    _   _   _ __   _ __  
 | '_ ` _ \  | '_ \  | | | | | '__| | '_ \ 
 | | | | | | | |_) | | |_| | | |    | |_) |
 |_| |_| |_| |_.__/   \__,_| |_|    | .__/ 
                                    | |    
                                    |_|

Enter the code above: *

Enter the code depicted in ASCII art style.

PROPERTY INVESTOR - In today's Irish Times, Aisling Keenan speaks out on the Governments new Multi-Unit Developments Act 2011

Post new comment

Search

A.K. Property Services newsletter

Recent blog entries:

A.K. Property Services