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Joint agency in residential are normally used for large scale new homes sales or a really large exclusive one off property. You might see this in out of town locations where a local agent might get paired with a big brand agent. Mind you its not unusual for two big names to be partnered for a...

You pay the full service charge to year end- in the event you sale closed without you paying it the purchaser would have to pay it. When the sale closes the service charge from the date the building sold to the end of the service charge year will be refunded to you(purchaser will pay this)...

Say nothing. Well done and congrats!

Agree. most blocks are well run but the bad eggs are very rotton. Most of the venting here down to people not paying service charges or in arrears, not understanding where the money goes and having no idea on how much under the hood work goes on in running a large complex. Its quite clear from...

The MUd act came in 2011 when economy was in bits. A huge amount of owners took over the running of their blocks and a huge amount of new entrants came into the market as management agents. A lot of directors are responsible people but unfortunately some are not and the consequences of this are...

No surprise if there is no sinking fund. Huge amount of OMCS reduced these to cut down the bills over the years or had credit control issues and did not allow for them and the ramifications of doing this are only coming to light now.

Then report the agent and Directors to the PSRA. If an agent is waiving a directors fee it should be obvious from the accounts. Mind you I have heard of some dodgy agents waiving a fee getting the director to pay fees as normal but "gifting" a directors a holiday voucher for the same value of...

Ah here. If the developer is a director of the OMC then course they should have a large say in running the block- Directors, be they the developer or owner, have the most say in how to run things and there's nothing unusual about that. As regards tendering and choosing the most expensive...

Sounds like a bad situation Palerider. Forgive me if I misinterpreted your post. I was just specifically pointing out regard to two points mentioned in Galway blow in that there is nothing usual about a developer being director at the outset of an OMC and that the idea the developer gets some...

Correct.

Developer or associate's of them have a directors seat from the start because they built it. They typically step once once all the units are sold and common area transferred. There no big conspiracy or skullduggery here. The developer also has to pay the same service charge as anyone else while...

The management fee is simply the total cost of running the common parts of the building. Every building is laid out differently and as such no management fee is same. You will(or should!) be issued before each AGM a budget which breaks down every item of expenditure. This goes out with the AGM...

That video never gets old!!!!:):):):)

I was in this situation before.I was only allowed draw down if I was beyond sale agreed and had signed exchanged and enforceable contracts. The sale fell out of bed at signing time but we got sale agreed with another purchaser very quickly, We asked bank could we draw down at sale agreed but...

I would take anything Darcy and the lunatic fringe say as advice with a massive pinch of salt.

Anything from 120(really cheap so would be careful) to 200. It depends on the size. There an element of quantum firm too, A firm that charges €200 a unit for normal sized block might charge considerably less than 200 a unit fee for a massive block for 500 plus units. There used to be a of of...

That seems high, especially as your reactive costs outside of the contract are running up additional 6k. Do you know what type of contract you have? Fully Comp, semi comp or basic? Fully comp are more expensive contracts but cover a lot more repairs that arent covered under semi and basic. How...

Not reputable ones. As for marking up supplier invoices this would be very surprising. I've heard in the some management agents coming in on nearly rock bottom fees and then quietly getting kickbacks from providers employed however.

All the above points mean you should be passed over OP.

I would have thought of you apply fora role you should get a shot at interviewing for it