Management Companies

The introduction of the Multi-Unit Development Act 2011 has brought about a number of changes in relation to Management Companies. Management companies must be provided with independent legal representation and the cost of this must be borne by the developer.

We can provide you with advice on all matters relating to Management Companies and particularly in relation to matters which Management Companies will need to be advised on in order to comply with the new legislation including the following:

  • Transfer of the Common Areas
  • Voting Rights
  • Annual General Meeting
  • Annual Report
  • Establishment of Sinking Funds
  • Service Charge and the calculation of them
  • House Rules
  • Restrictions in relation to directors of the Management Companies
  • Advice of the documentation to be provided by the developer to them on completion of the development
  • Restrictions on entering long term contracts
  • Advice of their Memorandum & Articles of Association
  • Review of Leases

Debt Collection for Management Companies

We have adapted a case management system that allows us to manage our debt collection matters as efficiently as possible. Find out more about our debt collection service.

Property Services Regulation Act

The Property Services Regulation Act provided a statutory framework for the regulation of Auctioneers, Estate Agents, Letting Agents and Property Management Agents. This Act set up a new Property Services Regulation Authority

The principal role of the authority is to:

  1. License and regulate property service providers, and
  2. Administer an independent system of investigation and adjudication of complaints from consumers about their individual dealings with such service providers.

The following licences are required by those providing property management services:

Licence Class Description of Property Service
A The auction of property other than land
B The purchase or sale, by whatever means, of land
C The letting of land
D Property Management Services

Licence classes A, B and C replace the previous Auctioneers licence from July 2012.

The existing District Court based licensing system for auctioneers and house agents will be transferred to the Property Services Regulatory Authority. The Authority was given comprehensive investigative and enforcement functions and is responsible for establishing and administering a property services compensation fund.

A licence will last for 12 months at which point it must be renewed. A public register of all licensed PSPs will be published on the PSRA website.

How the Regulations will affect providers of property management services to multi unit developments:

All management agency businesses are required to hold a licence. All employees of that business etc are required to hold an individual licence. It is the responsibility of employers to ensure that any property service provider in their employment holds a current licence. There are certain exemptions from licensing for employees whose role is not involved directly in property service provision.

Management Agent Contract

The Act provides that all contracts under property management agents and an owner’s management company must be in writing. A management agent is precluded from engaging with an owner’s management company without a detailed written contract. The minimum information to be included in a contract is set out in Schedule Two of the current Bill.

If you require advice in relation to any of the services listed above or if you wish to receive copies of our client newsletters and / or our business ezines please contact us on 01-2960666 or at