The Multi-Unit Development Act 2011 (MUD Act) enables apartment owners to take control of common areas and the management of the complex for the benefit of all residents.
The Act requires that before a developer sells any units:
– An owners bmanagement company (OMC) must be set up
– The common areas of the development must be transferred to the OMC
A multi-unit development is made up of at least 5 residential units that share company facilities and services. Most multi-unit developments are apartment blocks, but groups of houses that share common facilities can also be an OMC.
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