Great news for apartment owners in Ireland.
The Multi-Unit Development Legislation Bill was past by the government last December. Known as the MUD Act, which comes into law next month will have a number of repercussions for apartment owners allowing them to take control of the own apartment blocks and communal areas.
This act means that developers no longer have preferential votes on the board of directors of the apartment complex. Up until now, a developer could out-vote apartment owners even if they outnumbered the developer numerically. This meant
a developer could use this ‘golden vote’ to appoint directors, managing agents and set the service charge.
However, from the 1st April 2011, this power is being taken from developers and they will no longer have preferential voting powers. Apartment owners, if they outnumber the developer, can have control. They can appoint each other as directors and so can have more say
in the running of the company.
Apartment owners can now choose what contractors they want to maintain the property, they can ask for tenders to be submitted and they can set their own service charges.
The MUD Act will ensure that from now on, owners can take control of the running of their own apartment complex and ensures they can get competitive prices for its maintenance. A sensible piece of legislation if there ever was one!
So if you are living in an apartment building familiarise yourself with the MUD Act and consider going forward how you are going to select and choose the best contractors to meet your needs. And if you are looking for a grounds maintenance company right now or have a requirement for garden design, you know where to find us!
