Owners’ Management Company: Law and Best Practice is an authoritative guide to the law of property management in Ireland now in its second edition. It examines, in detail, the workings of the owners’ management company and the implications for all of those who are involved including its members, directors, service providers and residents.
Owners’ Management Company: Law and Best Practice, Second Edition, deals with all of the legal and practical issues around the ownership and control of the common areas of a multi-unit development which may comprise apartment blocks, housing estates, commercial estates and/or mixed-use developments. The Property Services Regulatory Authority is examined as is some fundamental and relevant provisions of the Multi-Unit Developments Act 2011 and the Companies Act 2014 which apply to all owners’ management companies in Ireland today.
This second edition further expands its practical guidance for OMC members and directors, outlining their legal duties and responsibilities, examining the prevailing culture of OMCs in Ireland, and analysing the balance of power between the various stakeholders involved. Particular attention is given to the building investment fund, or sinking fund, which remains one of the most challenging issues facing OMCs. The most recent SCSI report in 2024, The Real Cost of Apartment Block Maintenance, highlights that one in ten OMCs still does not have a sinking fund in place, despite this being a statutory requirement under the MUD Act. Additional key topics addressed include insurance and the pressing need for formal regulation of OMCs, an issue that will be central to the future development of the multi-unit sector.
There are three additional chapters which are new to this edition. The first examines the growing role of Approved Housing Bodies and the Land Development Agency within the sector and the impact they are having on OMCs in Ireland. The second addresses self-management, providing guidance for OMCs that choose not to appoint a professional managing agent and instead undertake the responsibilities of management themselves. This chapter offers a comprehensive body of information and practical resources to support OMCs considering or operating under a self-management. Finally, a chapter on sustainability in a Multi-Unit Development provides the reader with information and guidance on the role that sustainability can play in the development and management of Multi-Unit Developments.
