It seems that the bulk of management company questions and problems stem from a lack of understanding as to what exactly a management company is and the difference between a management company and management agent.
Here's some basic info. The link at the bottom is a really helpful booklet to answer many FAQs on managed developments.
From [broken link removed]
What is a property management company?
A property management company is made up of all the owners of apartments in a development. It is legally responsible for maintaining the standard of the development.
This means that you, and the other owners in the apartment development, are responsible for the upkeep of the apartments and of all the common areas.
Like all companies, the management company must stick to rules detailed in its ‘Memorandum and Articles of Association’. You should be given a copy of this when you buy your apartment.
What is a property management agent?
The owners of the apartments in a complex, in their role as members of a ‘property management company’, usually employ a ‘property management agent’ to manage the complex.
This property management agent must then carry out the duties stated in their contract with the property management company. It is crucial to employ a suitable agent.
http://www.consumerconnect.ie/eng/Hot_Topics/Campaigns/Management%20Companies%20Booklet.pdf
Here's some basic info. The link at the bottom is a really helpful booklet to answer many FAQs on managed developments.
From [broken link removed]
What is a property management company?
A property management company is made up of all the owners of apartments in a development. It is legally responsible for maintaining the standard of the development.
This means that you, and the other owners in the apartment development, are responsible for the upkeep of the apartments and of all the common areas.
Like all companies, the management company must stick to rules detailed in its ‘Memorandum and Articles of Association’. You should be given a copy of this when you buy your apartment.
What is a property management agent?
The owners of the apartments in a complex, in their role as members of a ‘property management company’, usually employ a ‘property management agent’ to manage the complex.
This property management agent must then carry out the duties stated in their contract with the property management company. It is crucial to employ a suitable agent.
http://www.consumerconnect.ie/eng/Hot_Topics/Campaigns/Management%20Companies%20Booklet.pdf