Presumably you get new blood proposed, seconded and elected to the board and take over as directors of the company? Bear in mind that becoming a director of a company (even a property management company) involves certain risks and responsibilities that not everybody will want to take on. Especially if the company may be in a precarious position.How do you take over the managment company via an EGM in reality.
You need to take legal advice in this matter because it sounds as though the development may be in breach of its planning permission re the management issue, which may be conditioned in the planning permission.The Society of Chartered Surveyors Ireland is reminding owners of apartments in multi-unit developments that Friday (September 30th) is the deadline for developers to transfer the management of common areas in existing developments to the Owners’ Management Company.
The significance of the change is that apartment owners who previously may not have had any role in the management of the common areas of their complexes will now be entitled to assume control of them.
The new measures are part of the Multi-Unit Developments (MUD) Act 2011, which was enacted on 1st April 2011, and is a new legislative framework for multi-unit developments (apartment complexes and private housing estates) which did not previously exist.
The Society of Chartered Surveyors Ireland believes the provisions of the Act provides a number of solutions and processes for the management of issues which have been challenging apartment owners for more than a decade, including the completion of developments, ownership of common areas and dispute resolution.
Hi DianeC401,
I just joined Askaboutmoney and am not quite sure how things work. I would like to correspond with someone who has experience of getting a management company back on its feet. Our situation is quite similar to lantus above. Can I email you?
merloo
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