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Owners' Management Companies Report Launch

Posted: Jun 21, 2019 By: meganmeehan Categories:  News Comment:  0
Owners' Management Companies Report Launch

Eoghan Murphy TD, Minister for Housing, Planning and Local Government launched a report authored by Paul Mooney entitled Owners' Management Companies – Sustainable Apartment Living for Ireland on Thursday 20th June 2019 in Chartered Accountants House, Pearse Street, Dublin 2.

This new independent report, jointly commissioned by the Housing Agency and Clúid Housing, proposes measures for the sustainability of owners’ management companies (OMCs). It sets out research findings and makes recommendations to support apartment/multi-unit development living.

The report:

  • Profiles, examines and assesses the performance of OMCs, in terms of operation, management, and governance
  • Explores international best practice, and what works in countries similar to Ireland
  • Delivers research findings, involving the makers, implementers, and subjects of current policy for apartment/multi-unit estate management
  • Recommends reforms to strengthen and improve OMCs to deliver sustainable apartment living

Increased residential densities in our towns and cities is a key measure of Government housing policy. More and more people in Ireland live in homes in apartment developments and managed estates. High standards in shared spaces, amenities and services are key to sustainable communities. 

OMCs are responsible for the stewardship of these estates’ common areas and services. Well-functioning OMCs will help to underpin sustainable apartment living into the future.

The report identifies that under current arrangements OMCs face a number of challenges. These are seen to include:

  • Service charge collection difficulties, and mounting debts
  • Insufficient provision for long-term maintenance and upkeep
  • Reliance on a cohort of civic-minded but untrained volunteer/amateur directors 
  • To help to deliver well-run OMCs, the main recommendations of the report centre around:
  • OMC director mandatory training
  • Regulation, oversight and dispute resolution structures
  • Improving sinking funds provision
  • Enhancing communication and reporting measures

 

Download the full Report. 

Access more information for owners of homes in managed estates.