As the residential developments built during the Celtic tiger sit waiting for residents to some day move into them, the signs of abandonment are definitely beginning to show.

The fact is it doesn’t matter who owns them now, be it the developers, the banks or NAMA, these ghost estates and abandoned apartment blocks still need to be managed. They need to be looked after, not only to uphold the value they have left, but for the community they’ve been left in. The way I see it, its not just the developers who we should feel sorry for, but also the people who live in and beside these estates who have to look at the mess everyday.

If these developments were managed properly by the owners they wouldn’t be deteriorating so fast. They need someone to go in there every week or two to ensure no damage has been caused, no pipes have leaked and prevent dampness destroying the walls.

Yes it would cost more money for someone to manage it and look after the development on a regular basis, but surely that is worth investing in instead of letting a €10-€20 million euros development fall apart and eventually, more than likely, be knocked.

Whats the worst that could happen? The management company might even rent a few apartments out, and some income is better than none.

Let us know your thought s?

Source: The Sunday Business Post - 17th April 2011

Kieron Wood

Last week, Galway Property Management cut off the electricity supply of tenants in Kilmainham Square, Dublin, where the owners of the apartments allegedly owed management fees.

The tenants received a letter dated last Tuesday, saying that ESB services would be ‘‘withdrawn by the management company’’ the following day. The letter, signed by Galway Property Management managing director Joe Gaffney, added: ‘‘I suggest that you contact either your landlord or letting agent as soon as possible, as we have already advised the landlord/letting agent of the situation.”

Gaffney told The Sunday Business Post that his company acted for the Chocolate Factory Property Management Company Ltd, the management company of Kilmainham Square. He said the electricity supplies travelled to apartments through ducts belonging to the management company, and apartment owners were not entitled to use management company property if they did not pay management fees.

‘‘It is not a nice business cutting off someone’s electricity,” he said, ‘‘but it is much better than going the legal route which takes months and months and months’’.

Airtricity said it was responsible for supplying electricity only as far as the apartment block meter; thereafter the supply to individual apartments was a matter for someone else.

A spokesman for the company said it had no right to go into apartments and reconnect tenants’ supplies, even if this seemed ‘‘unpalatable from the customers’ point of view’’.

‘‘In the current economic circumstances, we shall probably see more of this,” said the spokesman.

Kevin Baneham of the tenants’ organisation Threshold told The Sunday Business Post that it was clear that the management company concerned had interfered with the tenants’ ability to enjoy their rented property.

‘‘While there is no relationship of landlord or tenant between the management company and the tenant, the acts of the former have had a significant impact on the rights of the latter.

This gives the latter a cause of action against the former.

‘‘In similar cases, we have referred the matter to the National Property Services Regulatory Authority, which, despite still being in ‘shadow form’, will intervene in such disputes.

‘‘In one case, we prepared injunctive proceedings against a management company where it changed the locks to the front door of an apartment complex and would not supply the key to one tenant because her landlord had not paid the service charges due.

The imminent threat of the injunction led to the handover of a key to the tenant.”

A spokesman for the Commission for Energy Regulation said: ‘‘We would take this matter seriously, both from a consumer and a safety point of view.

‘‘We will be investigating the issue.”

Is this something that could effect you ? Do you agree with these harsh measures ?

The proposed new MUD Bill is to be discussed tonight in the Dail read the synopsis here
/

and see what it means for you as an Apartment owner

What to Consider When Hiring A Property Management Company
Drawbacks of Hiring a Property Management Company
Of course, outsourcing management involves risks that need to be considered. A property management company that is negligent in responsibilities could cause more headaches for their owners. The most common downsides include the following:

Cost. A property management company will charge an owner between 3%-12% of the property’s gross monthly rent to manage it, depending on the level of service. For a property with a large number of units, this can be a significant cost. Keep in mind that management fees aren’t the only fees that may be assessed by a property management company. Many companies charge additionally for creating or renewing leases, performing maintenance and advertising vacant properties.

Possibility of developing a bad reputation. The most vocal tenants in any community are those who are unhappy with management. Unfortunately, as more and more tenants flock to web sites to voice their disapproval with property managers, a property owner can can earn a bad reputation that will be displayed online indefinitely. Many rental property rating web sites have been around for nearly a decade now, which means bad reviews exist long after management has been changed or improved.

Potential for inadequate record keeping. In most cases, a property management company is solely responsible for all record keeping, including accounts payable and receivable, service records and tenant complaint records. If the management company does a poor job keeping records, the owner may be completely lost once they part ways. Inadequate record keeping can also leave an owner with no ground to stand on if a tenant files a legal complaint.

Vulnerability to lawsuits. It was mentioned before that a good property management company can help an owner avoid lawsuits. The opposite is true with a poorly run management company. A company that doesn’t keep up to date on changes in landlord/tenant law, or worse, doesn’t have a good understanding of the law in the first place, is leaving the owner open to a lawsuit. A single lawsuit could cripple a owner.

Ultimately, a property owner must determine if the benefits of hiring a property management company justify the expense. Owners who are able to outsource to effective companies and focus on growing the business would likely agree that the pros of outsourcing outweigh the costs.

Not Ready To Hire a Property Management Company?
An in-between option that exists between outsourcing and owner-management is hiring a resident manager. A resident manager is a person who lives on-site in one of the units and takes care of basic tasks related to the management of the property.

These basic tasks may include:
* Showing vacant units to prospective renters;
* Performing light maintenance and clean up; and,
* Coordinating with repair persons to fix maintenance issues.

If owners find themselves stretched thin but still not ready to hire a property management company, hiring a resident manager can be a good bridge between those two options.

Choose Wisely
Whichever route a property owner decides to take, a firm understanding of what property management entails will be essential for success. For the owners who choose self-management, they’ll need to become property management experts. For the owners who outsource their management, not knowing the industry will only lead to trouble down the road.

The lesson here is know the ins and outs of a business, no matter who manages it.

This was taken from David Allred and Jim Leonard S Blog www.making great places .com

© Making Great Places 2010 – All Rights Reserved

http://www.sligotoday.ie/details.php?id=10604

Clamping ‘Law Change’ for Sligo

A new Fine Gael bill could change the clamping system currently in operation in Sligo. Although no public clamping vehicles are operating in the town or county, the companies responsible for clamping on private property in Sligo will be affected.

The bill is designed to target rogue clamping companies who unscrupulously overcharge their victims and they will be stamped out under tough new laws published by Fine Gael Transport Spokesman Simon Coveney TD.

In Sligo, several clamping companies implement their policies in private car parks owned by Dunnes Stores, Sligo General Hospital, IT Sligo and several hotels. Fees to release the clamped vehicle range from €60 to €120.

The Vehicle Immobilisation Regulation Bill will make it illegal for a company to clamp a car, unless they are an approved company with an operating licence.

“This Bill will radically transform the clamping industry. For the first time, the industry will be regulated with legally enforceable standards for motorists. It will also protect legitimate clamping operations while stamping out rogue companies.

“Under the current system, anyone can set up as a clamping company on privately-owned land. Companies and individuals of ill repute have been able to operate unscrupulous clamping operations.

Simon Coveney TD said, “Fine Gael’s new Bill would require all clamping companies to be licensed by the National Transport Authority.”

The Bill will include the following;

• A legally enforced code of conduct to protect motorists;
• It will be illegal to clamp a vehicle without a licence;
• A cap on clamping fees;
• Garda vetting of all clamping employees;
• A time limit within which clamps must be removed;
• An independent appeals mechanism for motorists.

“The lack of regulation means many motorists have been preyed upon by unscrupulous operators. At the same time, legitimate clamping operators have taken to wearing stab vests to protect themselves. This chaos cannot continue.

“Car clamping should only ever be used as a last resort. This Bill makes sense for everyone concerned, and should be passed into law as a priority. I hope that all Government and Opposition parties would support these proposals when they come before the Dáil later this year.” concluded Coveney.

Whilst there is no suggestion that any rogue companies are currently plying their trade in Sligo, there have been many occasions where, on private land, the clamped motorist had no option but to pay.The Bill will afford rights to protect the motorist.

The company NCCP are a licensed company operating in Citygate

Bourke Property Management had a very successful meeting with Emer Nangle the newly appointed Property Manager for our Dublin liasion office Monti, 15, 16 Lwr Pembroke St Dublin .She spent the day in Sligo reviewing all their interests.

Sligo Citygate C0mplex residential section  is now fully occupied and the Management company are optimistic that we will paint and redecorate the lobbies in the near future.

It is still financially challenging to manage this complex in these times and we have switched to Bord Gais as our new energy supplier in a strive to be more cost effective.

Please feel free to comment on any aspect of this blog