Residential Estate Management

When it comes to property management, A.K. Property Services are a very safe pair of hands.

Tommy Finnerty, O’ Mahony Finnerty New Homes Limited

MowerResidential Estate Management works on the same principle as Apartment Block Management where a Management Company is set up to cater for the legal and day to day running of the development.

A management company for a residential estate may be specific to private housing estates that are not and have not been taken in charge by the local authority.

In the past it was more usual for local authorities to take estates in charge as soon as they were built; however due to the housing boom of recent years, local authorities have stipulated at planning permission stage to the developer that a Property Management Company must be set up to maintain the common areas.

In some cases the Management Company will only be in operation for a number of years at the beginning and then the local authority will take the estate in charge. In other cases the local authority will never take the estate in charge. There are arguments for and against this.

Some owners prefer to manage their own estate and pay service charges to maintain highest possible standards in general maintenance. Others simply prefer that the local authority takes responsibility for the common areas and so no service charges are payable.

The common areas of a residential estate can include any or all of the following: green areas, sewerage treatment plant, electronic gates, playground area, etc. Some typical items on a budget for a residential estate would include a public liability insurance policy, grounds maintenance, audit fees, managing agent fees, sinking fund, public lighting, etc.

girlResidential Estate Management is where each owner of the individual houses is a member (or shareholder) in the company that is set up to look after the legal day to day running of the development. The company has responsibilities to all the members to ensure the common areas are maintained to a high standard.

The best way to ensure the proper running of the estate is to appoint a professional and proven firm of Managing Agents. A.K. Property Services has an enviable reputation having operated as the leading Managing Agents in Ireland for the last 10 years.

The full responsibilities of the Management Company are outlined in the company’s Memorandum and Articles of Association, and in the Management Agreements attaching to the Title Documents to each property.

All owners have a responsibility to the Management Company to perform certain obligations, set out in the Management Agreements, primarily the payment of Annual Service Charges and attending the Annual General Meetings. It is important to have a clearly defined situation where the Management Company has definite responsibilities to all of its members and the members, likewise, have definite responsibilities to their Management Company, and to each other.

The Management company is a limited liability company and is managed by a Board of Directors or a Board or Management. At the initial stages, until all the properties are sold, the responsibilities remain with the Board of Management, which normally comprises of the developer and/or their solicitor, or solicitor’s staff.

Once sold, the control of the company is handed over to the owners themselves who elect their own Board. It is recommended that 2 or more owners will be appointed as directors of their own company, and form an ad hoc residential committee to liase between the owners and the managing agent.

“Sometimes it takes an expert to point out the obvious.”

-Scott Allen