Recently it has come to the attention of the OMC that the Director/Owner of the Managment Agent Company (MA) is also a Owner/Director of another ltd Company that is buying apartments in our complex with a view to renting/leasing them.
The Company is paying service charges into the OMC account and has one vote on the board as per 2011 SI but also has a significant amount of Apartments at the development. The MA company also takes money from the account for providing services as normal ect.
There is also an unwillingness to get value for money where contactors are concerned and the MA has there own preferred ones doing the work.
Having checked PSRA website our problem is hard to get correct info on, does the above seem right or is it a conflict of interest, the MA Director has never informed the board of this situation.
Regards OMC Member/Secretary
The Company is paying service charges into the OMC account and has one vote on the board as per 2011 SI but also has a significant amount of Apartments at the development. The MA company also takes money from the account for providing services as normal ect.
There is also an unwillingness to get value for money where contactors are concerned and the MA has there own preferred ones doing the work.
Having checked PSRA website our problem is hard to get correct info on, does the above seem right or is it a conflict of interest, the MA Director has never informed the board of this situation.
Regards OMC Member/Secretary