The Apartment Owners’ Network welcomes as good news three actions in the Housing for All plan. The measures, summarised below, should help the work of volunteer owners’ management companies (OMCs) in apartments and managed estates.
3 Actions – Reform OMCs
- Action 25.10: regulate in relation to homeowners’ annual financial payments to OMCs to ensure that all owners contribute to the costs of shared services and spaces in their developments.
- Action 25.11: regulate for building investment (or sinking fund) provision by OMCs, so that buildings and common areas can be kept in good condition.
- Action 25:12: examine the introduction of a method of resolving disputes in multi-unit developments (MUDs) that is less cumbersome and less costly than court litigation.
Network Director Bryan Maher said “We have for many years called for such actions. The measures, if implemented and enforced correctly, will help to put OMCs on a sounder financial footing. The proposals are a good start to reform of the sector. They should be welcomed by homeowners in managed estates and volunteer directors of OMCs throughout the country.”. “We look forward to engaging with the Departments of Justice, and Housing, and other stakeholders for implementation of these actions in 2022, as committed to in the Government’s plan.”, Maher said.
The actions build on a number of the recommendations of ‘Owners’ Management Companies- Sustainable apartment living for Ireland’, a 2019 report jointly commissioned by The Housing Agency and Clúid Housing. The proposals reflect recommendations of the 2018 Department of Housing Fire Safety Task Force Report, which said that efficient and timely recovery of service charges needs to be facilitated, so that funding is available to maintain, enhance and replace fire protection facilities.
Supports for OMCs
The Network takes the opportunity to recognise recent work by The Housing Agency, professional bodies such as the Society of Chartered Surveyors Ireland, and Chartered Accountants Ireland, and others, to support the financial and governance sustainability of OMCs and managed estates.