There is an article in today’s Irish Times about how apartment owners’ are becoming more involved with the management of their developments, since the introduction of the Multi-Unit Development Act (MUD) last year.
Following years of mismanagement by some Property Management Agents, in which property owners saw costs rise out of control, Property Owners are each entitled to one share of the Owner’s Management Company (OMC), under the new MUD Act. This has led to property owners becoming more involved in the running of their developments by appointing their own agent and re-tendering for maintenance services, such as cleaning, gardening etc and thereby reducing their costs, and each owners annual service charge.
At SCK Group, along with our partners in Pinnacle Property, we are already working with a number of OMC’s in developments around Ireland, where we undertake some or all of the services required, depending on the individual requirements of each OMC. For example, we can undertake everything from maintenance, service charge collection, accounts etc or if the OMC wants to retain some of these functions itself, we can offer a more limited support service such as service charge invoice/statements, budgeting and general advice on property management.