More management company woes

boards.ie/vbulletin/showthre … 2055247801

This guy’s management company appears to have gone under without informing the residents, i.e. the shareholders. Crazy stuff.

Co has not necessarily gone under. A Company can be dissolved by the Registrar if annual returns and accounts are not filed. Many perfectly sound and solvent companies do not meet their filing deadlines and as a consequence face the possibility of being dissolved by the CRO.

But this does mean that the residents will have legal trouble selling their properties until the company is re-instated by the CRO, yes?

(I’m not a solicitor - just vaguely remember this being mentioned on Prime Time last year)

Robert, I’m not a solicitor either, but yes the company would need to be restored first. It’s a simple process if done within 12 months. After 12 months an application needs to be made to the high court to have the company restored.

Whats with all the fuss of getting barristers and solicitors and doing all the flapping to get the management company back

Why not let em go and save yourself the management fee every year :smiley::D:D:D:D:D

I agree with Blindjustice!
Barristers, solicitors, management companies, none of them serve any practical purpose so why the frantic twisting of knickers to throw money at them?

But then who would cut the grass?!

Michael McDowell cutting the grass. Now there is a vision. :wink:

The reality is it gets fairly messy and hard to manage without a management company in place. The fees charged by mgt companies are on average 10-12% of a developments total budget.
If there is no mgt company in place you save yourself about €2.50-3.50 a week or €132-180 p.a. based on a €1100-€1500 annual unit charge, but then you have the hassle of trying to get a dedicated residents comittee together who will ensure the place is ran correctly,pay insurance, organise repairs and ongoing maintainance, keep and file accounts every year, organise waste collection, collect the fees to run the place etc etc.
The development where I live has only 20 units and we looked into it but decided against it,too much hassle and very time consuming.

But I used to cut my own grass, and paint my own house. In fact there are lawn alternatives out there that never need be cut! And alternatives to painting :slight_smile:

:smiley::D:D

I’m secretary of our management company and I can assure you there is loads of maintenance that needs to be done.
Also block insurance and grounds maintenance even for the most low maintenance of estates is expensive.

Without a management company in place the apartments in our estate would look just as run down as the townhouses in the estate.