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:

Anonymous (not verified) Says:
Thu, 07/08/2021 - 07:35

Anonymous (not verified) Says:
Thu, 07/08/2021 - 06:59

SBOBET Situs Judi Bola Online Dengan MOBILE sbobet Buruan Login Melalui Link Alternatif SBOBET Claim Bonus Setiap Harinya

opik (not verified) Says:
Thu, 07/08/2021 - 06:58

Situs login joker123 Deposit Pulsa Dan Link Alternatif joker388 Dengan Bonus Terbesar Buruan Daftar Segera Nikmatin Jackpot Setiap Harinya

CasinoDono (not verified) Says:
Thu, 07/08/2021 - 06:58

Sbobet adalah virtual bola pusat taruhan judi bola online terpercaya menyediakan permainan sportbook di indonesia

Chow Yun (not verified) Says:
Thu, 07/08/2021 - 06:58

situs resmi login joker123 terpercaya dan daftar joker123 terpercaya di indonesia

bang joe (not verified) Says:
Thu, 07/08/2021 - 06:51

Situs idn poker Online Terpercaya & bandar ceme online Dengan Winrate Tertinggi Di Indonesia Raih Bonus Jackpot Tiap Harinya Daftar Sekarang Juga!

Anonymous (not verified) Says:
Wed, 07/07/2021 - 15:40

Thank you pertaining to giving this excellent content on your web-site. I discovered it on google. I may check back again if you publish extra aricles. judi slot online

oijogf (not verified) Says:
Wed, 07/07/2021 - 14:07

I’m sure you will find there’s trouble with your internet site by using Firefox browser. 英文補習

-=-
always avoid plastic tv mounts when possible and buy those aluminum or steel tv mounts because they last longer** agen slot

Islamabad Escorts (not verified) Says:
Wed, 07/07/2021 - 13:46

I am hoping for the same best effort from you in the future as well. But also visit Islamabad Escorts I have a good experience.

Lahore Escort (not verified) Says:
Wed, 07/07/2021 - 13:45

Our dazzling and Professional Escorts in Lahore will fulfill you. The total of your sexual longings. As the best offices and Company, our Naughty and Independent Escort in Lahore.

motm (not verified) Says:
Tue, 07/06/2021 - 13:27

Does your site have a contact page? I’m having trouble locating it but, I’d like to shoot you an e-mail. I’ve got some suggestions for your blog you might be interested in hearing. Either way, great website and I look forward to seeing it develop over time. sbobet

mtom (not verified) Says:
Tue, 07/06/2021 - 12:24

I dont leave a lot of comments on a lot of blogs each week but i felt i had to here. A hard-hitting post. link alternatif joker123

------------------------------

Thanks - Enjoyed this post, can you make it so I receive an email when you make a fresh post? From Online Shopping Greek Modafin benefits and effects

sunilsingh (not verified) Says:
Tue, 07/06/2021 - 11:22

http://www.corporacioneg.com/UserProfile/tabid/43/userId/21371187/Defaul...
http://www.deol.it/UserProfile/tabid/43/UserID/41994/Default.aspx
http://mortchalfy.com/UserProfile/tabid/217/userId/434220/Default.aspx
https://www.thebranfordgroup.com/dnn3/UserProfile/tabid/214/UserId/53474...
https://docs.google.com/document/d/1DDG4D0BBQvKiHS1ZnXz4rSkForKLaDsT7Wot...
http://phillipsservices.net/UserProfile/tabid/43/userId/94256/Default.as...
https://www.equestrianbookfair.com/UserProfile/tabid/57/userId/36886/Def...
https://registration.d125.org/UserProfile/tabid/67/UserId/207819/Default...

madison (not verified) Says:
Tue, 07/06/2021 - 00:35

Buy Amazon Parrot Online
Buy Blue and Gold Macaw Online
Buy Cockatoo online
Buy Fertile Macaw Parrot Eggs Online
Buy Fertile Parrot Eggs Online
Buy gyrfalcons online
Buy Hyacinth Macaw Parrots
Buy lutino macaws online
African grey parrots for sale
Buy african grey parrots online
Buy albino macaws online
Buy Amazon Parrot Online
Buy Blue and Gold Macaw Online
Buy parrot eggs online
congo african grey parrots
Buy Blue and Yellow macaw online
Buy Scarlet Macaw For Sale Online
Buy Macaws’ big size
Buy Monk Parakeet For Sale
Buy Lutino Macaw Online
Buy Indian Ringneck Parakeet
Buy Cockatiel Sounds Explained Parrots Online
Buy Buy Hyacinth Macaw Parrots Online
Buy India Blue Peafowls Online
Buy Java Green Peafowl Online
Buy Buy Gyrfalcon Online
Buy Buy White Peafowl Online
Buy Buy Ostrich Chicks Online
Buy Dracula Parrots Online
Buy Ostrich Chicks Online
Buy African Grey Parrot Online
Buy Online Lutino Macaw Online
Feel Free to contact directly with us via
www.exoticbirdsfarms.com
Email:...
Email ::: info@exoticbirdsfarms.com
generalsupport..... www.exoticbirdsfarms.com
Whatsapp (+15035120498)

LO (not verified) Says:
Mon, 07/05/2021 - 13:00

Can I simply say what a aid to find someone who actually knows what theyre speaking about on the internet. You definitely know how one can bring an issue to gentle and make it important. More individuals need to learn this and perceive this aspect of the story. I cant believe youre not more well-liked since you definitely have the gift. agen sbobet

motm (not verified) Says:
Mon, 07/05/2021 - 11:04

Great Post! I look forward to seeing more from you in the future. There are some very great ideas above. joker123

mom (not verified) Says:
Mon, 07/05/2021 - 06:03

My brother recommended I would possibly like this blog. He was totally right. This publish truly made my day. You can not believe just how a lot time I had spent for this info! Thanks! Desert safari

motm (not verified) Says:
Sun, 07/04/2021 - 10:58

I like what you guys are up also. Such smart work and reporting! Carry on the superb works guys I have incorporated you guys to my blogroll. I think it will improve the value of my web site Buy Lsd Sheets in Australia

FB (not verified) Says:
Sun, 07/04/2021 - 08:12

You lost me, friend. Get real, I imagine I buy what youre saying. I’m sure what you’re saying, but you just seem to have forgotten that you will find other folks from the world who view this issue for what it truly is and may perhaps not trust you. You may well be turning away many folks who appeared to be lovers of the website. agen pragmatic
=================================================================================
Great post, beautiful blog with great informational content. This is a really interesting and informative post. judi ceme

motm (not verified) Says:
Sun, 07/04/2021 - 06:57

It’s difficult to find knowledgeable folks during this topic, but you could be seen as what happens you are referring to! Thanks joker123 deposit pulsa

mom (not verified) Says:
Sun, 07/04/2021 - 06:46

Thank you for the good writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! However, how could we communicate? meri fasal mera byora

KOMAL (not verified) Says:
Sat, 07/03/2021 - 14:51

https://shop.theme-junkie.com/forum/users/jacklinjoha/
https://pbase.com/waylon/profile
http://www.heromachine.com/forums/users/nora25/
https://mythem.es/forums/users/Easton58/
https://slides.com/arianna69
https://www.beatstars.com/jonathan58/
https://bookme.name/Ezra695
https://support.wedesignthemes.com/users/carson68/

mtom (not verified) Says:
Sat, 07/03/2021 - 09:14

I enjoy you because of all of the effort on this web page. My daughter loves carrying out research and it’s really easy to see why. Almost all know all regarding the dynamic means you convey both interesting and useful steps through your web site and as well as invigorate participation from other individuals on this area of interest so our favorite girl has been being taught so much. Have fun with the remaining portion of the year. You are always doing a superb job. 우리카지노

---------------

Thank you a lot for giving everyone an extraordinarily special possiblity to check tips from here. teen opioid addiction treatment near me

JOHAN (not verified) Says:
Sat, 07/03/2021 - 05:04

https://itmig.curie.fr/members/1160/profile "> Get Rid Of Skin Care Problems Now

https://myanimelist.net/profile/Waylon "> Get The Skin You Want With These Tips

https://community.allen-heath.com/forums/users/Victoria25 "> Get Younger Skin No Matter Your Age

https://ignitiondeck.com/id/forums/users/102039 "> Got Problem Skin? Here's Some Helpful Advice

https://bibliocrunch.com/profile/waylon/ "> Got Problem Skin? Here's Some Helpful Advice

https://www.jqwidgets.com/community/users/jackson256/ "> Great Ideas To Get Back To Great Skin

https://forum.cyclingindustry.news/forums/users/sebastian69/ "> Great Skin Care Help That Won't Leave You Confused

http://www.metalstorm.net/users/Nora25/profile "> Be Successful With Your Skin Care

https://morsbags.com/forums/users/addison-ds/ "> Easy Help For Common Skin Care Problems

http://vrc.org.au/forums/users/Savannah56 "> Easy Tips For Regular Skin Maintenance

https://puremtgo.com/users/Savannah58 "> Easy Tips To Care For Your Skin

solange moore (not verified) Says:
Sat, 07/03/2021 - 03:40

buy weed online
order legit weed
order legit weed
buy weed online
buy weed online
buy weed online
buy weed online
order legit weed
order legit weed
buy weed online
buy weed online
buy weed online
buy weed online
order legit weed
order legit weed
buy weed online
buy weed online
buy weed online
buy weed online
order legit weed
order legit weed
WHATSAPP ::+1(314) 717-1381

solange moore (not verified) Says:
Sat, 07/03/2021 - 03:39

WHATSAPP ::+1(314) 717-1381

American Airlines Book Flight (not verified) Says:
Fri, 07/02/2021 - 19:08

Is a thrilling vacation to any exotic location your dream? Yes, opt for the American Airlines Book a Flight process and complete your travel dream efficiently. American Airlines is one of the best air carriers in the aviation industry because it always keeps its passengers on priority. The main motive of the airline is to facilitate its customers with nothing but the best. Luxury, comfort, and convenience linger in the flights of American Airlines. You don’t have to give a second thought before making the reservation with the airline because it is an ideal choice for you. Confirm your American Airlines booking with no effort today and explore your desired destination. To know more about this airline, read the information stated below.

Other Airlines:

Southwest Airlines Book Flight
Delta Airlines Book a Flight
Turkish Airlines Booking

Anonymous (not verified) Says:
Fri, 07/02/2021 - 09:21

Very informative and fantastic bodily structure of content material , now that’s user friendly . Mdma crystals
=======================================================
Greetings, have you ever previously wondered to create concerning Nintendo or PS handheld? https://www.crunchbase.com/person/pam-baer

motm (not verified) Says:
Fri, 07/02/2021 - 07:26

Fantastic beat ! I would like to apprentice whilst you amend your site, how can i subscribe for a weblog web site? The account aided me a appropriate deal. I had been tiny bit acquainted of this your broadcast provided vibrant clear idea travel

------------------
Very interesting info!Perfect just what I was looking for!. “Everybody likes to go their own way–to choose their own time and manner of devotion.” by Jane Austen.. one north eden price

williams joe (not verified) Says:
Thu, 07/01/2021 - 18:23

williams joe (not verified) Says:
Thu, 07/01/2021 - 18:20

Are you looking for a regular, reliable weed supplier?