Back to site

©2024. All rights reserved.
Crafted by 4Property.

What is a Sinking Fund?

Lots of Euro notes which relates to The Land Registry Fee
What is a Sinking Fund?

After transferring the ownership of the development from the developer’s to the management company, the OMC must establish a sinking fund within 3 years. This fund is used for non-recurring maintenance and refurbishment in the multi-unit development. The fund is comprised of the contributions made by the unit owners to the fund annually. The MUD Act 2011 stipulates that the minimum amount to be contributed to the fund each year is €200, or alternatively, an amount which the members of the OMC have agreed to. All monies kept for the fund must be held in a separate account than the management company’s primary account.

For more information on the work we do with Owner’s Management Companies, click here.

Phil Thompson

Join 500+ happy house sellers who have greatly benefited from expert and experience-rich insider tips accumulated over 16 years in the residential property market by Phil Thompson, our Sales Director. Talk to Phil by filling form.

"*" indicates required fields

Name*
When do you wish to sell?*
Hidden
Hidden
Hidden
This field is for validation purposes and should be left unchanged.

By submitting this form you agree to our privacy and cookie policy

There is no obligation to engage our services once you receive your property consultation from Phil

Privacy Policy

Pagespeed Optimization by Lighthouse.

Tell us why you are here, so we can tailor the website to your needs.