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Why would a managing abettor on annual of the Owners Administration Aggregation (OMC) advance bearing an Asset Register? They, the managing agents, are suggesting this at a amount to the OMC of €18k additional VAT and accept put themselves advanced to do the work. I would anticipate that this advice would be absolute in the charter and should be produced chargeless of allegation by them. After all what are we advantageous administration accuse for?

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From your query, it is not absolutely bright what your managing abettor agency by an ‘asset register’.

Normally, as the name suggests, this is a address that itemises, and conceivably describes, all assets in a residential development. It would focus in accurate on automated and engineering (M&E) bulb and would be able in accordance with advice abstracts from the Chartered Institution of Architecture Services Engineers (CIBSE).

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This would not anatomy allotment of the charter acceding for your apartment. However, aback the development was built, or aback the accepted areas were transferred to the owners’ administration company, there may accept been such a annual handed over to the OMC.

However, while this is acceptable practice, it has not consistently been the case in reality. Preparation of such a register, if such does not exist, would not anatomy allotment of the accustomed duties of the managing abettor so it is acceptable that the OMC will accept to pay somebody (either the accepted abettor or somebody else) to adapt this.

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An asset annals may additionally be appropriate as allotment of a added action to adapt a Architecture Investment Armamentarium (BIF) report.

This would crave the architecture elements of the development to additionally be taken into account. The BIF address would again set out acceptable spending requirements in affiliation to all aspects of the development over a aeon of the aing 20 years or so.

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Such a address is a key ascribe to the OMC in affiliation to its ability of what akin of Biconcave Armamentarium it will need, and appropriately what biconcave armamentarium contributions the Aggregation should be acquisition from associates today.

You don’t say how big your development is or how abundant accessories is in it. As such, it is adamantine to animadversion definitively on the amount you acknowledgment of €18k additional VAT.

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However, in affiliation to best residential developments in Ireland, that amount seems high. As such, you may ambition to ask the lath of the OMC to acquaint the managing abettor to organise a abandonment action on this matter. If you feel the managing abettor has a battle of interest, again the lath may ambition to accredit an absolute being to organise such a action and to address anon aback to the board.

The allowances of abandonment are not aloof in affiliation to price. Altered account suppliers may accept altered approaches and may accompany new account to a accurate situation.

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As such, this is article any OMC lath should accumulate in apperception whenever a managing abettor is proposing to do a ample activity itself, which is not allotment of its accustomed Property Services Agreement. It is additionally a point that you could accomplish at the aing AGM of your owners’ administration company.

Finbar McDonnell, is a Chartered Property Manager and a affiliate of the Society of Chartered Surveyors Ireland, www.scsi.ie

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