Fiona O'Loughlin
Question:80. Deputy Fiona O'Loughlin asked the Tánaiste and Minister for Justice and Equality her plans to regulate property management companies; and if she will make a statement on the matter. [23004/16]
View answerWednesday, 20 July 2016
Questions (80)
Written answers
The position is that the Multi-Unit Developments Act 2011 was enacted with the primary purposes of reforming the law relating to the ownership and management of common areas of multi-unit developments and facilitating the fair, efficient and effective management of owners' management companies (OMCs). These are companies registered under the Companies Act, the members of which are the owners of residential units within the development, which are established for the purposes of ownership and management of such areas. The 2011 Act contains provisions relating to matters such as:
- the transfer of common areas to the OMCs (sections 4 and 5);
- voting rights of members of OMCs (sections 14 and 15);
- the provision of annual reports by OMCs to members (section 17);
- arrangements for the holding of annual meetings to approve annual service charges (section 18)
- establishment of a sinking fund to cover refurbishment outlays (section 19)
- arrangements for the making of House Rules (section 23); and
- establishment of a court-based dispute resolution process (section 24).
The Act also contains provisions which encourage the resolution of disputes that may arise between parties by means of mediation rather than recourse to court proceedings.