Management Agent re: housing estate

[abadu]

Hopefully someone here will be able to answer some questions for me. I have read through previous posts and cant find anything that is relevant as this is in relation to a housing estate(41 houses). I have very little knowledge about agents and what exactly can and should I expect from them.
1) Can they run the AGM on their own or must a director from the management company be present.
2) Should they present to the residents reps on the company, quotes for the coming yr and for them to ok them
3) Should the Company accounts be sent to the CRO yearly and is this a legal requirement. Also should the Agents accounts be sent to the CRO yearly.

I would be greatful for any replies as I and other residents feel that the Agents are currently running rings around us, and also if any parts of this new law that was passed in relation to apts have any impact on how the agents run companies that involve estates.

I really have no knowledge about agents as this is all new but I fed up with constantly getting the same reply from the Agent " We have no money". We do have fees not paid up but from reading other posts now know how to get them to deal with this.

Sorry 1 more Question: we have an even split of houses occupied and unoccupied. The charge for the unoccupied houses is €8k, last yr we recived €4k from the builder towards the cost. Are we lucky to be receiving this??????????

Thanks for any help really appreciated

 

[markpb]

2) Should they present to the residents reps on the company, quotes for the coming yr and for them to ok them

There is no requirement for them to do this but many do. Normally, only the company directors see and/or approve the quotes during the year. Residents committees, etc have no legal standing.

3) Should the Company accounts be sent to the CRO yearly and is this a legal requirement. Also should the Agents accounts be sent to the CRO yearly.

Yes, the management companys accounts must be submitted to the CRO each year and sent to the owners 21 days in advance of their AGM. They are normal companies and must comply with the various Companies Acts. The Agents must also be submitted to the CRO but unless you are worried about their financial stability, I don't think they would be of any concern.

if any parts of this new law that was passed in relation to apts have any impact on how the agents run companies that involve estates.

Yes and no. There was a separate piece of legislation to regulate managing agents but it wasn't passed by the Dail in time so it's back to scratch. However the new legislation that was passed (but is only partly enacted) gives owners more rights to see and vote on the budget at the AGM, gives them more information and power at the AGM (reports on long contracts, information about fire safety equipment maintenance and a vote on the contribution to the sinking fund).

I really have no knowledge about agents as this is all new but I fed up with constantly getting the same reply from the Agent " We have no money". We do have fees not paid up but from reading other posts now know how to get them to deal with this.

While not all agents are great and not all management companies are well run, it's quite possible that the agent is telling you the truth. If there are many unsold units, the developer might not be contributing to them and the company will face a shortfall. Even if that's not the case, it only takes a percentage of owners to fail to pay before services have to be cut. Pursuing debtors through the courts is not a quick process.

Sorry 1 more Question: we have an even split of houses occupied and unoccupied. The charge for the unoccupied houses is €8k, last yr we recived €4k from the builder towards the cost. Are we lucky to be receiving this?????????

(I should have read this before replying above...) Prior to enactment of the MUD bill, yes. There was no obligation on the developer to pay for unsold units but the new bill looks like it forces them to do this.

 

[shesells]

Technically the MA are employees of the MC and aren't automatically entitled to attend the AGM - they should never run the AGM as it's a conflict of interest.

 

[abadu]

Thanks for answering the questions, it gives me a bit more knowledge about the running of them. The agents are like worms wiggling out of straight answers
Some more questions....sorry
1)Someone has just mentioned arrears in certain big estates in Dublin where residents didnt pay their fees. They were informed by local councillors that the builder had a legal obigliation to maintain the ground of the estate unitl the lands had been conveyed.....Is this correct?
2)Agent has said the directors gave them their proxy to run the AGM....(estate not finished & developer's reps are the 2 Directors) is that allowed?
3)Until the estate is finished we cant place a resident on the board of directors of the MC....Is this right also.

So many questions I'm sorry, but once again I hope one of you can point me in the right direction. We feel that the Agents are trying to pull the wool over our eyes and at this stage we've lost count of the different places we have rang looking for information, with each one passing us onto the next!!
Thanks again