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Another useless Irish regulator on its way – lucky us!

I was prompted to this post by an e-mail from Gavin on Friday evening, and before weekend coverage of the same topic. The Irish Times on Friday had a couple of articles regarding the problems that apartment residents are having with property management companies and property management agents (sub required, but available here, here, here and here).

I’ve already commented about property management companies on this site and how the currently useless Irish regulator who’s empowered to act won’t actually do so – preferring to “work with them”.

So, the Irish Government response to the Irish problem is to set up another useless regulator, the National Property Services Regulatory Authority (NPSRA), to specifically regulate, amongst other things, property management agents – not the property management companies.

A quote from one of the articles above goes as follows:

The NCA is hopeful that the establishment of the National Property Services Regulatory Authority (NPSRA) will be a “big consumer win”, as it will eventually regulate management agents. “It’s going to greatly assist improving the quality of service that is offered by management agents, and therefore improve the experience of people living in multi-unit developments whose management companies have contracts with recognised and registered management agents,” says Hurley.

Apart from the unnerving fact that the National Consumer Agency is sticking its oar in in this area as well, I don’t believe it’s the management agents that are the problem – well, directly anyway.

The NCA and ODCE are keen to tell us that we don’t really understand the differences between property management agents and companies (cause we’re all stupid consumers and need useless regulators to save us from ourselves), yet by encouraging and supporting the setting up of this new useless regulator by the Government they’re showing us that they all really don’t have any clue of what’s going at all.

The primary problem, as per the articles above, is that residents don’t have control of their own property management companies in order to be able to control their own destiny with regards to where they live. Developers find ways, for whatever reason, to keep control of the property management companies, and in most situations appoint connected companies as the property management agents- keeping it in the family if you like.

Because the property management agents then know that because of the connections with the developers, and therefore with the property management companies, they don’t actually have to provide any value for money, or in some cases, even provide a service. They know that no matter what they do or don’t do, or how dissatisfied the residents are, they’ll always be reappointed.

However, if the ODCE, the NCA, and the already useless and irrelevant before it begins National Property Services Regulatory Authority (NPSRA) actually addressed the situation that allows developers maintain their place as directors of property management companies with block voting enough to always override the residents in all decisions, then we’d end up in a better situation.

In such a scenario, the residents can take control of their own property management companies, and then can appoint their own property management agents – ones that they know will provide a quality service, and value for money, and will actually be accountable to the residents who live there, and not the developers who don’t.

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