Understanding Owners’ Management Companies (OMCs)
- Paying annual service charges
- Contributing to the sinking fund
- Following the development’s house rules
- Maintaining their own apartment where required under the lease
Service charges help fund the day-to-day running of the development and protect the long-term value of everyone’s investment.
What does a Managing Agent do?
Many OMCs appoint a professional managing agent to carry out the day-to-day management of the development.
The managing agent works on behalf of the OMC—not individual residents—and follows instructions from the board of directors.
Typical responsibilities include:
- Organising repairs and maintenance
- Managing contractors
- Arranging buildings insurance
- Collecting service charges
- Preparing budgets
- Coordinating AGMs
- Responding to owner enquiries
- Managing health and safety compliance
- Supervising cleaning, landscaping and waste services
A good managing agent helps ensure the development operates efficiently while supporting both directors and residents.
Who appoints the managing agent?
When a development is first built, the developer usually appoints the initial managing agent.
Once control transfers to the Owners’ Management Company, the OMC’s board of directors decides whether to retain the existing managing agent or appoint a new one.
This appointment should always be supported by a written management agreement that clearly defines the services being provided.
What should I do if I have a complaint?
If you’re unhappy with the management of your development:
- Contact the managing agent in writing.
- Allow them an opportunity to investigate and respond.
- If the issue isn’t resolved, raise it with the OMC directors.
- Attend the AGM if you wish to discuss wider concerns or propose improvements.
It’s important not to withhold your service charge payments as a form of protest. This may place you in breach of your lease and can affect the finances of the entire development.
Who regulates managing agents in Ireland?
Managing agents must be licensed by the Property Services Regulatory Authority (PSRA).
If you’ve exhausted the OMC’s complaints procedure and believe a managing agent has acted improperly, you may be able to submit a complaint to the PSRA.
Why getting involved matters
A well-run Owners’ Management Company protects property values, maintains high living standards and plans effectively for future maintenance.
Even if you don’t become a director, attending AGMs, staying informed and voting on important decisions helps ensure your development continues to be managed in the best interests of all owners.
Need Professional Property Management?
At Ballincastle Property Services, we work closely with Owners’ Management Companies across the North West, providing professional property management, financial administration, maintenance coordination and support for directors.
If your OMC is reviewing its current management arrangements, we’d be happy to discuss how we can help.