Archive for October, 2009

Multi Unit Developments Bill

Sunday, October 11th, 2009

Click on the link to see a copy of the Multi Units Developments bill 2009

This bill is designed to amend the law relating to the ownership and management of Multi Unit Developments.   Have you a question about the bill?  If so post a comment or call our office at 01 2871905

What does the management agent do?

Saturday, October 10th, 2009

The management agent is responsible for the financial management of the management company and the provision of services such as grounds landscaping & maintenance, block insurance, public liability insurance, collection of the service charge, company law compliance, collect quotes from service suppliers, supervise contractors and to organise the audit of the account among others.  The management company hires an agent to look after theday to day running of a development.   The agent acts on the direction of the directors who are elected at the AGM.

What happens if my service charge is in arrears when I sell my property?

Saturday, October 10th, 2009

The annual service charge must be paid in full for the sale of a property to go through.  Simply, the property can not be sold until all the service charge  owed is paid.  The percentage owed is based on the accounting period e.g. if the property is sold six months into the accounting year then only 50% of the service charge is due.