The Housing Agency to host MUD outreach event in Dundalk
Members and directors of owners’ management companies of apartments and managed estates in Dundalk invited to network and learn at information evening hosted by The Housing Agency
Owners of apartments and homes in multi-unit developments (MUDs), directors of owners’ management companies (OMCs), service providers, and other interested parties in Dundalk are invited to attend an information evening that aims to help stakeholders take a full and active role in their OMCs.
Hosted by The Housing Agency, the event runs from 6.30pm – 8.30pm on Wednesday, 30th September in the Gateway Hotel, Dundalk.
Apartments and MUDs are a growing component of the housing stock in Ireland. It is estimated that there may be as many as 10,000 OMCs operating nationally.
These OMCs look after shared services and facilities supporting the majority of the almost 300,000 apartments and flats in the country. OMCs also support houses and duplexes in managed estates.
Where there are four or five directors serving on each OMC board of directors, this means there could be at least 40,000 to 50,000 directors of OMCs, most of them volunteers, working in support of their estates and communities around the country.
Due to this demand on OMCs, The Housing Agency has developed a series of networking and information meetings for stakeholders in MUDs to discuss the challenges they face, their roles and responsibilities, and what resources are available to help them.
The meetings start with a networking session consisting of a roundtable discussion and guided questions designed to connect attendees from 6.30pm – 7pm. This is followed by a presentation from The Housing Agency and Q&A session which will look at stakeholders’ roles, responsibilities and the supports available to them, which runs until 8.30pm.
OMCs are responsible for looking after the shared spaces, facilities and services in a housing development, such as an apartment block.
David Rouse, MUDs Adviser with The Housing Agency, explains: “OMCs are important because they are responsible for the upkeep of the common areas of apartments and managed estates, for example lifts, corridors, hallways, stairs, gardens and car parks. Services for which OMCs are responsible include building insurance, security, cleaning and waste management.”
The OMC is collectively owned and managed by all homeowners in the development. When someone purchases a property, they automatically become a member of the OMC. These members then elect the directors of the OMC.
OMCs can face a range of issues, including making sure all owners pay their annual service charge on time and in full, establishing a building investment fund to replace parts of the building such as lifts and roofs, engaging with licensed property management agents to look after the day-to-day running of the estates, and dealing with construction defects.
“The directors of an OMC, though usually volunteers, bear the ultimate responsibility for the running of the company, to ensure that it is managed in an open and transparent manner, and operates in the interests of all its members.” says Mr Rouse.
“Their role, therefore, can impact on the value of properties as well as the quality of residents’ living environment. Teamwork, communication, governance and finance skills can help people to act effectively as directors of an OMC.”
While in most cases OMC directors are supported by the skills and experience of a licensed professional property management agent, directors must still be familiar with the laws and regulations around running an OMC.
The Housing Agency is hosting a nationwide series of information evenings in September and October. These events aim to address key issues frequently raised by OMC members, including challenges with service charge collection, dispute resolution, and understanding company law and the duties of directors. Developments in relation to current and proposed regulation of the sector will also be addressed.
While attendance at the information evenings is free, registration is required. More information can be found at https://www.housingagency.ie/news/networking-and-information-meetings-for-people-involved-with-apartments-muds-and-omcs/ or by emailing [email protected].