How to change the Management Agent in an apartment complex

 

Property management, particularly managing an apartment complex in Dublin, can be tricky. But with the right systems and a reasonable approach, it can be done in a timely and efficient manner.

Establish a board of directors

Firstly, we need to establish if there is a board of “owner directors” currently in place. If there is, simply convene a board meeting to seek proposals from other agents. Ideally, choose 2 or 3 agents and invite them to quote and subsequently for interview. Follow up on their application and references, then select your preferred candidate.

If a board of “owner directors” is not in place, it’s likely that the Developer has not handed over control of the Management Company to the owners. In this instance, you should request the Developer co-opt new Directors chosen by the members or else petition the Company Secretary to arrange an AGM or an EGM, with the purpose of having the Developer and any nominees step down for the purpose of electing new Directors from the owners.

Appointing a new agent

Before appointing the new agent, do your homework to satisfy yourselves that the agent has the experience and capability to manage the apartment complex to the standard expected. Do a CRO search and check they are licensed with the PSRA. It is now a statutory requirement under the Property Services (Regulation) Act 2011 to enter into a service agreement with your agent, who must be licensed and have all the necessary resources available to do a thorough job.

Whilst many agents seek a minimum 2 year contract, we would suggest you insist upon a 1 year agreement which should allow sufficient time for both parties to establish a successful working relationship. Finally, it is good practice to give your outgoing agent at least one month’s notice in writing.

Successful apartment property management

Apartment property management in Dublin is not difficult provided you have good systems in place. Managing people takes more effort, in that it can be reactive and thus difficult to predict. At Reaney Property we put the relationship between owners, landlords and tenants first. We treat all parties as business partners and stakeholders, ensuring that by working together we can achieve the best possible results for all concerned.

For further information or to have an informal chat, call us now on 01 8464549 or email [email protected]

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