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The success of an apartment block, development or estate known as an Operating Management Company [OMC] can often be determined by the quality of the management agent [MA] in place. Saying that the agent is appointed by the elected representatives/directors of the OMC that appoint the agent [MA] so it is you as an apartment or house owner in your development that chooses the agent.
An OMC or a management company is set up and each owner has one share in this company which is effectively a cooperative as they are not for profit and is set up to run the common areas that all owners share as an owner of a property in the development or estate.
There is often confusion as to what obligations the OMC has and then also what obligations the occupant has. The OMC is responsible for everything from the front door to the hallways and gardens and paths. The property owner is responsible for everything inside their walls or property. The tenant is required to adhere to the house rules of the block such as no pets if house rules are written and published/syndicated.
Usually, apartment buildings or developments/estates with more than 12 units are managed by professional licensed [PSRA] property management estate agent companies know as Managing Agents [MA] and those buildings with fewer than 12 units are sometimes managed by a volunteer or a property owner that lives onsite. Regardless of who is managing the apartment building, it is important to follow some general principles and tips to make sure that operations run smoothly as it can affect not only the positive enjoyment living experience but it can also cost each of the owners more and also devalue your property if the OMC is not run correctly.
The management of an apartment building should be efficiently run like any other business. The manager should look to improve the client-tenant living experience while minimising costs and increasing profit opportunities whenever possible.
Another important matter that can generate complaints with the management is the issue of who is responsible for the repair and maintenance of the apartment units. The property owner should clearly write out in the lease agreement who is responsible for what repairs. Also, house or development rules should be written and communicated to all tenants and owners.
The tenant and unit owner should alert management of any dangerous or defective situations with the property. For example, faulty wiring, water leaks, mould and fire hazards. The manager should provide tenants and owner-occupiers with the official policy and procedure for dealing with complaints and repair requests. For example, what the hours of operation are for the maintenance and repair staff and how fast tenants and owner-occupiers should expect a remedy to complaints.
In general, maintenance and repairs should be handled as speedily as possible to avoid further complaints from the occupants. Major issues like plumbing leaks and heating/cooling problems should be dealt with in 24 hours. An open line of communication between occupiers and management is an essential ingredient to good overall relations. Management should keep all occupants informed of when and how the repairs will be made and the reason for any delays.
Head over to this link on how we can help you manage your property successfully: https://ckp.ie/services/property-management-in-dublin/
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