The multi unit development bill comes in force as of the 1st April ending the stranglehold over residents in multi unit developments. Under the act, among other requirements, developers will be forced to hand over common areas and control of the management company.
From the 30 September, developers will be legally obliged to handover common areas and control of management companies allowing residents take control how the management company is run and who to appoint as managing agents. This legislation will make managing companies directly responsible to the residents allowing greater transparency and lower costs as competition opens.
The bill includes a number of other areas concerning living in multi unit developments providing instructions on how management companies are run. To find out more about the bill see www.blockmanagement.ie or call 012871905.
If you are interested in becoming involved in your management company and wish to find out how savings can be achieved, call our office for a no obligation quote on your service charges.
See post on department of Justice website http://www.justice.ie/en/JELR/Pages/Multi_Unit_Act