Residential Block Management – Property Management
The Board of Directors of an Owners Management Company (OMC) is elected by the owners to manage a multi-unit residential development and usually retain the services of a managing agent to offer guidance, advice and assistance with the day-to-day management. OCPM work closely with over 50 Dublin OMC Boards to ensure agreed tasks are brought in on time and on budget.
Our licensed property managers adopt a hands-on, proactive approach with an emphasis on doing the basics consistently and correctly. We provide a full range of managed services to agreed service levels complemented by proven sub-contractors and tradesmen to whom we outsource key activities underpinned by cloud based accounting software.
Block management services include:
Identify, on an annual basis, all maintenance and possible refurbishment programmes including fire safety and other equipment, for consideration by the OMC. Arrange delivery of planned maintenance as decided by the OMC. Compile work schedule for janitor/caretaker and oversee the work. Advise the Board of the OMC immediately of any defect that could impact the working of the emergency warning systems within the development. Arrange for this defect to be repaired without delay. Conduct as frequently as agreed, visual inspections to identify repairs and renewals. Arrange necessary repairs. Monitor contractors to ensure the contracted services are delivered to specification. Provide access to prospective contractors to the development to enable comprehensive tenders to be completed. Maintain the OMC’s equipment inventory/asset register. Keep safe any warranties or guarantees. Arrange for breaches of the house rules to be communicated with the unit owner and tenant if applicable. Deal with issues regarding security, break-ins, vandalism, and anti social behaviour. Providing 24 hour emergency cover.
Advise the OMC on the establishment of a sinking fund in accordance with section 19 of the Multi-Unit Developments Act 2011.Prepare an estimate in respect of annual service charges in accordance with section 18 of the Multi-Unit Developments Act 2011, for consideration by the OMC. Apportion the amount of contribution (charges), (based on the budget adopted by the OMC) payable by each unit owner, in accordance with section 19 of the Multi-Unit Development Act 2011 and regulations made thereunder. Administer the imposition of penalties for late payments as directed by the OMC where permissible. Prepare a report when requested for the OMC directors on overdue accounts. Administer the OMC’s finances in accordance with the provisions of the Property Services (Regulation) Act 2011 and regulations made thereunder. Provide reports on all income and expenditure for the OMC on an agreed frequency basis. Reconcile bank statements and provide reconciliation reports to the OMC. Pay invoices for goods and services in accordance with the approved service charge budget up to an agreed value on behalf of the OMC. Prepare and provide accounting records for the OMC’s accountants and auditors. Issue each unit owner with a statement of demand for service charges and sinking fund contribution together with a copy of the approved budget and the calculations used to arrive at the charge payable by each unit owner. Collect service charges and sinking fund contributions approved by the OMC. Administer the issuing of reminders for service charge and sinking fund payments as directed by the Board of the OMC. Answer queries from unit owners on service charges and sinking fund contributions. Arrange for the collection of arrears as directed by the Board of the OMC. Provide receipts for all cash received. Provide, on request, the unit owner with annual statement of unit owner’s services, charges payments and sinking fund contributions. Respond to accountants and auditors on questions arising from the preparation and audit of the OMC’s accounts.
Attend directors’ meetings to include General Meetings of the OMC as agreed. Arrange, under the instruction of the OMC’s Company Secretary, the General Meetings of the OMC and prepare, produce and circulate the necessary reports and notices (once approved by the OMC) in accordance with sections 17, 18, 19 and 23 of the Multi-Unit Development Act 2011. Carry out the OMC’s instructions to comply with its legal obligations. Prepare the necessary returns to comply with the Companies Act 2014. Maintain the register of the OMC Unit ownership (in accordance with section 8(3) of the Multi Unit Developments Act). Record and process alleged breaches of lease conditions, covenants or house rules and to report such breaches to the OMC. Prepare supporting material used at meetings (agenda, accounts, reports on the management of the complex or proposed budget). Prepare draft minutes of meetings. Distribute communications to directors’/unit owners as appropriate. Maintain records of work carried out, tender exercises and other records related to service provision. On-going communication with unit owners and residents as directed by the OMC. Prepare draft returns to the Revenue Commissioners for the OMC if required. Request contact details of owners in compliance with Section 8(3) of the Multi-Unit Developments Act 2011. Provide or make available memorandum and articles of association to unit owners Arrange unit ownership certificates to new unit owners. Distribute minutes of general meetings to unit owners
Identify potential insurance providers/brokers to provide necessary insurance cover to include building reinstatement; fire and perils; lift engineering; public liability; employer/employee liability; directors and officers; alternative accommodation cover. Liaise with insurance provider/broker in procuring cover on the basis of appropriate professional advice Liaise with the insurance provider/broker on renewal of all policies, as directed by the OMC. Negotiate of premium payment schedule with insurance provider/ broker. Record and receive insurance settlements on behalf of the OMC Notify the insurers of interested parties as advised.
Liaising with the company solicitor on all legal matters. Attend court. Preparing MUD requisitions