Owners’ Management Companies - Sustainable Apartment living for Ireland Report - June 2019
Reports and publications
Report author and lead researcher
Author and lead researcher, Paul Mooney, is a Chartered Surveyor with over 25 years of practice in residential property management including management of MUDs and PRS. Working with industry stakeholders and Government, Paul was involved in the drafting of the Multi- Unit Developments Act 2011 and the Property Services (Regulation) Act 2011. Paul was appointed to the board of the Property Services Regulatory Authority on its creation in April 2012, and was re-appointed for a second term in January 2017.
Recommendations
The 14 recommendations from this research refer to:
- OMC director mandatory training
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Lease covenant and House Rules enforcement
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OMC annual return filing
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Regulatory Authority Building Inspectors
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Dispute resolution and Regulatory Authority Tribunal
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Establishment of Housing Regulatory Authority
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Fire safety reporting and certification
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OMC director mandatory training
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Enhancing OMC communications with owners
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Enabling OMC borrowing
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Regulatory Authority and mixed use schemes
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OMCs engaging licenced management agents
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Enhaned insurance cover and reporting
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Removal of OMCaudit exemption and financial reporting standardisation.
The recommendations in this report are wide-reaching and will require primary legislative changes to implement. The result of the implementation of the changes will be to deliver a benchmark for the management of MUDs and their regulation, for the protection and benefit of the communities living and owning property within them.
Obliging OMCs each year to return data, confirm compliance with fire regulations, and deliver details on insurance, when combined with
director training, will all improve the quality of estate management. The empowerment of OMCs efficiently to collect service charge debt is key to
the sustainable success of the sector, because uncollected debt is currently the biggest risk. It should be understood that functioning OMCs, displaying a capacity to collect service charges from their members, will offer a new market for loan products.