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:

토토사이트 (not verified) Says:
Tue, 12/26/2023 - 10:50

Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts. Any way I'll be subscribing to your feed and I hope you post again soon. Big thanks for the useful info. RV Maintenance Orange County

마사지 (not verified) Says:
Tue, 12/26/2023 - 10:31

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. 마사지

안전놀이터 (not verified) Says:
Tue, 12/26/2023 - 10:23

그것은 완전히 흥미로운 블로그 안전놀이터

카지노 커뮤니티 (not verified) Says:
Tue, 12/26/2023 - 09:57

bookmarked!!, I like your site

온라인 카지노 (not verified) Says:
Tue, 12/26/2023 - 09:33

You can find all kinds and forms of fashion blogs because internet is brimming with them.

슬롯사이트 (not verified) Says:
Tue, 12/26/2023 - 08:12

I truly like you're composing style, incredible data, thankyou for posting.

먹튀검증 (not verified) Says:
Tue, 12/26/2023 - 08:03

이러한 유익한 웹 사이트를 게시하는 데 아주 좋습니다. 웹 로그는 유용 할뿐만 아니라 창의적이기도합니다. 먹튀검증

슬롯커뮤니티 (not verified) Says:
Tue, 12/26/2023 - 07:48

I admire this article for the well-researched content and excellent wording. I got so involved in this material that I couldn’t stop reading. I am impressed with your work and skill. Thank you so much

dafem40952@twugg.com (not verified) Says:
Tue, 12/26/2023 - 07:46

My spouse and I absolutely love your blog and find many of your post’s to be exactly I’m looking for. can you offer guest writers to write content for yourself? I wouldn’t mind composing a post or elaborating on a number of the subjects you write about here. Again, awesome site!
ket qua bongdalu

무료스포츠중계 (not verified) Says:
Tue, 12/26/2023 - 07:38

블로그에 대한 흥미로운 주제. 나는 재미를 위해 인터넷을 검색하고 당신의 웹 사이트를 찾았습니다. 멋진 포스트. 지식을 공유해 주셔서 감사합니다! 일부 사람들이 여전히 웹 사이트를 관리하는 데 노력을 기울이는 것을 보는 것이 좋습니다. 곧 다시 확인하겠습니다. 무료스포츠중계

인천오피 (not verified) Says:
Tue, 12/26/2023 - 07:09

I am really impressed with your writing skills well with the layout for your weblog. Is that this a paid subject matter or did you modify it your self? Anyway stay up the nice high quality writing, it is rare to see a nice weblog like this one these days 인천오피

Anonymous (not verified) Says:
Tue, 12/26/2023 - 05:46

Traders using the Bitcoin ProAir 24 app make insane profits as the tool guarantees a success rate of up to 98% and we are sure you will not be disappointed on your journey. bitcoin pro air website

Find Home In Columbus (not verified) Says:
Tue, 12/26/2023 - 05:40

Dimitri Zubrich Group is with Re/Max Affiliates in Westerville, OH providing home buyers and sellers with professional real estate services. We truly believe that a real estate transaction can be fun!
If you’re looking for someone who actually cares, then we invite you to get to know us. You’ll find that we are warm, friendly, easy to talk to and we love helping people.
millstone creek park

토토사이트 (not verified) Says:
Mon, 12/25/2023 - 15:10

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

인천달리기 (not verified) Says:
Mon, 12/25/2023 - 14:37

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 인천달리기

꽁머니 (not verified) Says:
Mon, 12/25/2023 - 13:35

안전놀이터 (not verified) Says:
Mon, 12/25/2023 - 12:30

" '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. 안전놀이터

https://www.bitsofwisdom.org/blog (not verified) Says:
Mon, 12/25/2023 - 11:59

이 정보 메시지를 공유 할 수있는 훌륭한 기능입니다. 이 블로그에 대한 지식에 깊은 인상을 받았습니다. 여러면에서 도움이됩니다. 다시 게시 해 주셔서 감사합니다. https://www.bitsofwisdom.org/blog

해외축구중계 (not verified) Says:
Mon, 12/25/2023 - 11:03

메이저놀이터 (not verified) Says:
Mon, 12/25/2023 - 10:28

Alvinjohan (not verified) Says:
Mon, 12/25/2023 - 10:28

골드몽 릴짱 사이다쿨 (not verified) Says:
Mon, 12/25/2023 - 09:20

I am very much pleased with the contents you have mentioned. I wanted to thank you for this great article. 골드몽 릴짱 사이다쿨

툰코 (not verified) Says:
Mon, 12/25/2023 - 09:07

오랫동안 나와 내 친구는 유익한 블로그를 찾고 있었지만 지금은 올바른 위치에 있습니다. 당신은 내 마음에 방을 만들었습니다!

토토 가입코드 (not verified) Says:
Mon, 12/25/2023 - 08:25

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 토토 가입코드

Anonymous (not verified) Says:
Mon, 12/25/2023 - 08:16

Some times its a pain in the ass to read what website owners wrote but this website is very user pleasant! . bongdaso

카지노 커뮤니티 (not verified) Says:
Mon, 12/25/2023 - 08:15

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

토토 가입코드 (not verified) Says:
Mon, 12/25/2023 - 07:45

Anonymous (not verified) Says:
Mon, 12/25/2023 - 07:44

이러한 유익한 웹 사이트를 게시하는 데 아주 좋습니다. 웹 로그는 유용 할뿐만 아니라 창의적이기도합니다. 야동

온카판 (not verified) Says:
Mon, 12/25/2023 - 07:31

Very good content, really interesting and really helpful, thank you

카지노놀이터 (not verified) Says:
Mon, 12/25/2023 - 07:26

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. 카지노놀이터

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

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

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

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

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