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:

프리미어리그중계 (not verified) Says:
Sat, 09/30/2023 - 12:55

Great job for publishing such a beneficial web site. Your web log isn’t only useful but it is additionally really creative too. There tend to be not many people who can certainly write not so simple posts that artistically. Continue the nice

토토검증 (not verified) Says:
Sat, 09/30/2023 - 12:31

Amazing knowledge and I like to share this kind of information with my friends and hope they like it they why I do. 토토검증

안전놀이터 (not verified) Says:
Sat, 09/30/2023 - 12:28

Thanks for every other informative site. The place else may just I get that kind of information written in such an ideal means? I have a venture that I’m just now operating on, and I have been on the look out for such information
안전놀이터

dfgdaa (not verified) Says:
Sat, 09/30/2023 - 11:39

"나는 그러한 주제에 관심이 있으므로 멋진 설명 페이지를 언급하겠습니다. 머니맨

토토사이트 (not verified) Says:
Sat, 09/30/2023 - 11:11

나는이 기사를 읽었다. 이 기사를 만들기 위해 많은 노력을 기울인 것 같습니다. 나는 당신의 일을 좋아합니다. 토토사이트

안전놀이터 (not verified) Says:
Sat, 09/30/2023 - 11:01

이 기사는 기사 역사상 최고 중 하나입니다. 나는 골동품 'Article'수집가이고 때때로 그것들을 흥미롭게 읽습니다. 안전놀이터

프리미어리그중계 (not verified) Says:
Sat, 09/30/2023 - 10:55

t’s difficult to get knowledgeable men and women within this topic, but the truth is be understood as what happens you are speaking about! Thank

애볼루션카지노 (not verified) Says:
Sat, 09/30/2023 - 09:11

Congratulations for posting such a useful blog. Your blog isn’t only informative but also extremely artistic to

슬롯게임 (not verified) Says:
Sat, 09/30/2023 - 08:51

나는 이것을 읽을 것이다. 다시 올게요. 공유해 주셔서 감사합니다. 그리고이 기사는 우리가 현실을 관찰 할 수있는 빛을 제공합니다. 이것은 매우 좋은 것이며 심층적 인 정보를 제공합니다. 이 멋진 기사에 감사드립니다 .. 슬롯게임

Mlb중계 (not verified) Says:
Sat, 09/30/2023 - 07:50

와 ... 정말 멋진 블로그입니다.이 글을 쓴 글쓴이는 정말 훌륭한 블로거입니다.이 글은 제가 더 나은 사람이되도록 영감을줍니다. Mlb중계

fghfdaa (not verified) Says:
Sat, 09/30/2023 - 07:30

확실히 그것의 모든 조금을 즐기십시오. 그리고 나는 당신의 블로그의 새로운 내용을 확인하기 위해 당신이 즐겨 찾기에 추가했습니다. 반드시 읽어야 할 블로그입니다! 스포츠중계

메이저사이트 (not verified) Says:
Sat, 09/30/2023 - 07:24

안녕하세요. GOOGLE을 사용하여 블로그를 찾았습니다. 이것은 아주 잘 쓰여진 기사입니다. 나는 그것을 북마크하고 당신의 유용한 정보를 더 읽기 위해 돌아올 것입니다. 게시물 주셔서 감사합니다. 꼭 돌아 올게요. 메이저사이트

먹튀검증 (not verified) Says:
Sat, 09/30/2023 - 07:20

Really satisfied with all the information I have found in this article. It gives immense knowledge on physical education, it is very helpful and quite generous to spread a good message. The author has done a brilliant job on summing all the points here. You just made a new fan with your writing skills. Cheers!

스포츠보기 (not verified) Says:
Sat, 09/30/2023 - 07:16

귀하의 블로그가 너무 놀랍습니다. 나는 내가보고있는 것을 쉽게 발견했다. 또한 콘텐츠 품질이 굉장합니다. 넛지 주셔서 감사합니다! 스포츠보기

슬롯 사이트 (not verified) Says:
Sat, 09/30/2023 - 07:04

Im grateful for the blog post.Really looking forward to read more. Keep writing 슬롯 사이트

Anonymous (not verified) Says:
Thu, 09/28/2023 - 11:31

whoah this weblog is excellent i love reading your articles. Stay up the good paintings! You already know, lots of persons are looking round for this info, you can aid them greatly. ลิ้งดูบอลสด hd

OKBet (not verified) Says:
Thu, 09/28/2023 - 10:28

A very awesome blog post. We are really grateful for your blog post. You will find a lot of approaches after visiting your post.
OKBet casino

no fees mortgage (not verified) Says:
Thu, 09/28/2023 - 09:47

I read a article under the same title some time ago, but this articles quality is much, much better. How you do this.. no fees mortgage

johnnn (not verified) Says:
Thu, 09/28/2023 - 06:56

Thank you so much for this kind of valuable post its amazing post it may helpful for each visitors. For more information go through my websites here: peacocktv.com/tv

Anonymous (not verified) Says:
Wed, 09/27/2023 - 14:28

Me gustaría decir lo que una ayuda para encontrar a alguien que sabe realmente lo que son hablar acerca de internet. Definitivamente sabe consejos transmitir un problema a la luz y hacer importantes. Más individuos deben leer y comprender este aspecto de la historia. No puedo considero youre no más común porque tiene sin duda el regalo. ข่าวฟุตบอลต่างประเทศล่าสุด

Anonymous (not verified) Says:
Wed, 09/27/2023 - 09:11

whoah this blog is great i like reading your articles. Keep up the great paintings! You know, a lot of individuals are looking around for this info, you can aid them greatly. เว็บข่าวกีฬา

equity release firms (not verified) Says:
Wed, 09/27/2023 - 08:11

Thanks again for the blog.Really looking forward to read more. Really Great

equity release firms

Anonymous (not verified) Says:
Wed, 09/27/2023 - 06:53

https://comprarelapatentediguidaregistrata.com/
https://rijbewijskopen.com/
https://koupitridicak.com/
https://www.legitimefahrerlizenzonline.com
https://fuehrerschein-fabrik.com/
https://xn--kpakrkortonline-8sbd.com/
https://xn--kupitivozakudozvolu-4kc.com/
https://xn--legalenfhrerscheinonline-2sc.com/
https://xn--echterfhrerschein-82b.com/
https://xn--licenciadeconducirenlnea-qic.com/
https://comprarelapatentediguidaregistrata.com/

https://xn--kjpefrerkort-wjbd.com/

SimonWhitehead (not verified) Says:
Wed, 09/27/2023 - 06:53

This website and I conceive this internet site is really informative ! Keep on putting up! Dominican Republic travel

메이저놀이터 (not verified) Says:
Wed, 09/27/2023 - 03:36

I would like to thank you for sharing this article. It is a very good and interesting article and a great website. Thank you for sharing.메이저놀이터

Dom (not verified) Says:
Mon, 09/25/2023 - 14:28

Looking for the best massage experience in town? Check out these top 오피 options.

Anonymous (not verified) Says:
Mon, 09/25/2023 - 06:18

Find the perfect massage therapist for your needs on 오피뷰.

Anonymous (not verified) Says:
Mon, 09/25/2023 - 05:32

I've found this interesting! Check it out!

Massage Riyadh |

Types of welding joints (not verified) Says:
Sun, 09/24/2023 - 07:42

wow, great, I was wondering how to cure acne naturally. and found your site by google, learned a lot, now i’m a bit clear. I’ve bookmark your site and also add rss. keep us updated. Types of welding joints

Anonymous (not verified) Says:
Sat, 09/23/2023 - 12:44

I think other website owners should take this internet site as an model, very clean and wonderful user friendly design . shillong teer common number

Dom (not verified) Says:
Fri, 09/22/2023 - 16:12

Seeking relaxation? These reputable 부달 massage parlors offer a haven for tranquility.

Anonymous (not verified) Says:
Fri, 09/22/2023 - 16:00

Easily this page will probably irrefutably possibly be well known involving many blogs persons, car without any conscientious articles or blog posts or maybe opinions. https://pxhere.com/en/photographer-me/4064212

blawonk (not verified) Says:
Fri, 09/22/2023 - 07:07

permisi luur... rumah adalah aset yang sangat berharga bagi semua orang, oleh karena itu dalam pembangunannya perlu perencanaan yang matang, agar rencana pembangunannya efisien perlu pakai harga jasa desain rumah dalam pembuatan designnya, tapi harus penuh pertimbangan dalam memilih arsitek yang bagus, pakai tim jasa arsitek kami menjadi solusi yang sangat tepat untuk merancang hunian idaman anda dan keluarga

bike packers (not verified) Says:
Fri, 09/22/2023 - 06:23

메이저사이트 (not verified) Says:
Fri, 09/22/2023 - 03:25

I believe information is what makes the world go around. Without it, we would wander around aimlessly without direction. Your content is a great informational piece with very valid points. 메이저사이트

Anonymous (not verified) Says:
Thu, 09/21/2023 - 16:51

This is a great post. I like this topic.This site has lots of advantage.I found many interesting things from this site. It helps me in many ways.Thanks for posting this again. complete renovation

Anonymous (not verified) Says:
Thu, 09/21/2023 - 16:51

This is a great post. I like this topic.This site has lots of advantage.I found many interesting things from this site. It helps me in many ways.Thanks for posting this again. complete renovation

위니옹 생질루아즈 (not verified) Says:
Thu, 09/21/2023 - 13:58

So useful thing you have shared guy . Really awesome this stress management . Liked it . 위니옹 생질루아즈

스포츠 라이브중계 (not verified) Says:
Thu, 09/21/2023 - 09:08

This article was written by a real thinking writer.I agree many of the with the solid points made by the writer.

cody (not verified) Says:
Thu, 09/21/2023 - 05:08

It is extremely nice to see the greatest details presented in an easy and understanding manner. complete renovation

Dom (not verified) Says:
Wed, 09/20/2023 - 15:14

Treat yourself to a memorable massage experience with 울산오피's help.

cartier replica (not verified) Says:
Wed, 09/20/2023 - 02:16

Pelle Carrera WAR201E.FC orologi replica è anche un modello sportivo di lusso, impermeabile fino a 100 metri, ma questo non è possibile con la pelle Carrera.

burgundy black truffle (not verified) Says:
Tue, 09/19/2023 - 12:16

This is a really good read for me. This was just what I was looking for. burgundy black truffle Seeking towards reading a lot more from you finding out down the road.!

온라인슬롯 (not verified) Says:
Tue, 09/19/2023 - 10:07

This specific seems to be definitely excellent. These very small facts are produced using wide range of qualifications know-how 온라인슬롯

Beatbox Pro Apk (not verified) Says:
Tue, 09/19/2023 - 07:59

Introducing Beatbox Pro Apk – an incredible tool that allows you to unleash your inner beatboxing skills and create mind-blowing beats right ..
Beatbox Music Player Mod Apk

슬롯사이트 순위 (not verified) Says:
Tue, 09/19/2023 - 07:12

I want to have this great information. I love it so much!

Led lustry (not verified) Says:
Mon, 09/18/2023 - 16:58

Led svietidlo
Led lustry
Led Lustre
Lustry
Lustre
led osvetlenie
led svietidla
led panel
led reflektor
led svietidlo
LED Žiarovky
Lustre
LED bodovky
Stropné svietidlá
Vonkajšie osvetlenie
kolajnicove osvetlenie
LED diódové pásiky
Nástenné lampy
Podlahové svietidlá
Bodovky
LED Žiarovky

kall (not verified) Says:
Sun, 09/17/2023 - 14:55

hello!,I like your writing so much! share we communicate more approximately your post on AOL? I need a specialist in this house to solve my problem. May be that is you! Taking a look forward to see you. target affiliate program

Stella Leworthy (not verified) Says:
Sun, 09/17/2023 - 13:15

Good day! I know this is kinda off topic but I’d figured I’d ask. Would you be interested in trading links or maybe guest writing a blog article or vice-versa? My site discusses a lot of the same subjects as yours and I think we could greatly benefit from each other. If you’re interested feel free to send me an e-mail. I look forward to hearing from you! Superb blog by the way! target affiliate program

광주오피 (not verified) Says:
Sun, 09/17/2023 - 11:47

Very good points you wrote here..Great stuff…I think you’ve made some truly interesting points.Keep up the good work.

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