Members gave a presentation on self management at one of our monthly meetings. It’s something that quite a few apartment complexes have talked about but only a small number have actually done.
It can be difficult to decide if self-management is right for your complex, and whether your directors have the skills and commitment needed to make it work. The presentation below may be a help to anyone considering it.
Download the presentation:
You should be aware of the provisions of the Property Services (Regulation) Act 2011 . This legislation requires Property Services Providers to hold a licence.
Under section 2 of the legislation, “property service” means-
“the provision, for consideration, in the State, in respect of property located within or outside the State, of any of the following—
(a) the auction of property other than land,
(b) the purchase or sale, by whatever means, of land,
(c) the letting of land (including a letting in conacre or for the purposes of agistment), or
(d) property management services,
(i) a property services employer,
(ii) an employee of a property services employer,
(iii) a principal officer of a property services employer, or
(iv) an independent contractor;“
“Property management service” means-
“services in respect of the management of a multi-unit development carried out on behalf of a management body, and such services include—
(a) administrative services, and
(b) the procurement of or any combination of the maintenance, servicing, repair, improvement or insurance of the development or any part of the development;”
Therefore, where those involved in self-management receive consideration/remuneration they may be required to obtain a licence from the PSRA.
It has been suggested that remunerated OMC directors have not the time and facility to undertake the steps necessary to obtain a licence, and maintain licensed status, meaning that a licence may not be required.
Self-management may mean that some of the protections and benefits available from of having a licensed property services provider are not afforded to the OMC.
It is an offence under section 28 to provide a property service unless the person is the holder of a licence which is in force in respect of that property service.
The PSRA should be contacted for confirmation of the position in each case of proposed self-management.
The following document, published by The Housing Agency, contains guidance, including commetary on “self-management”-
Engaging a Property Management Agent: Guidance for Owners’ Management Companies (The Housing Agency)