OMC managing agent fees

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logikal

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What's everyone's OMC managing agent fees work out at per household in your development?

In a small mixed development of 44 units (10x1 bed apartments(single building) 8x2 bed houses(6 mid terrace+2end) 24x3 bed houses(8 semis + 10 mid terrace + 6end) 2x4 bed semis) we have total managing agent fee of 15,375€ incl. VAT ranging from 224€-473€ per unit/household.

trying to gauge if this is above or below average?

Worth noting this is within a Dublin commuter area approx 55-60km from city centre.

Small 1.68 hectare development. Total floor space 4058sqm.
 
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I live in a mixed development of 140 apartments and 10 houses in Dublin West. Managing agent fee is €22000 approx. This works out at €146 per unit approx although apartments pay more than houses. Your Managing Agent fees seem quite expensive as your development has mainly houses and not so many common areas to be managed? It is difficult to do an accurate comparison obviously as each development has different features (eg lifts, large green areas etc)and there are some economies of scale. Always good to put the Managing agent contract out to tender every few years expecially if you feel you are not getting good value for the fee you pay.
 
Private but non-gated development of 142 x 2/3 bed townhouses arranged in terraces close to Dublin city centre.

Management agent fees for 2024/2025: €15K/€16.5K p.a.
Management charge per unit (same for all units): €330 p.a.
 
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Threadser said:
I live in a mixed development of 140 apartments and 10 houses in Dublin West. Managing agent fee is €22000 approx. This works out at €146 per unit approx although apartments pay more than houses. Your Managing Agent fees seem quite expensive as your development has mainly houses and not so many common areas to be managed? It is difficult to do an accurate comparison obviously as each development has different features (eg lifts, large green areas etc)and there are some economies of scale. Always good to put the Managing agent contract out to tender every few years expecially if you feel you are not getting good value for the fee you pay.
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Interesting I'm looking to possibly get quotes from different providers/companies. Would you recommend the company over your development and can I ask the name ? Thank you
 
logikal said:
Interesting I'm looking to possibly get quotes from different providers/companies. Would you recommend the company over your development and can I ask the name ? Thank you
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I have sent you a DM with the name of the managing agent that we use. I would definitely recommend that you shop around.
 
The managing agent we use is Gillian Duffy of Managewise. We find her honest and reliable and she communicates promptly with us and with residents. I have no personal connection with her, other than working with her as a volunteer director for a few years.
 
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Is there ever any appetite of a list of Managing agents. Aware there is a list on the PRSA but I just dont find it very effective.

And google just isn't giving a great list. Have recently become a director of an OMC that is in shambles but has had the same managing agent for 12 years and other directors just haven't kept on top of it They might be the best option but I also feel they need their fathers ruffled a bit to show that we will change if they dont get to work.
 
Whiteglass_ale said:
Have recently become a director of an OMC that is in shambles but has had the same managing agent for 12 years and other directors just haven't kept on top of it
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The most important thing you can do as a new director is to take control of the OMC bank account if it hasn't been done already. Always review the expenditure on a monthly basis and ensure that Directors co-authorise the payments. This means that you have oversight of every euro that is being spent.
 
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