The Housing Agency has crafted a comprehensive guidance document titled “Engaging a Property Management Agent: Guidance for Owners’ Management Companies,” accessible through this provided link.
This guidance is structured around essential topics and questions designed to assist Directors of Owners’ Management Companies (OMCs) in the selection process of a property management agent for multi-unit developments, such as apartment blocks or housing estates featuring shared services and spaces.
Key areas highlighted in the guidance encompass agent licensing and experience, contractual considerations, effective communication strategies, as well as property and financial management services.
It’s imperative to note that the content adheres to legal provisions applicable to licensed property services providers, OMCs, and multi-unit developments. Relevant legislations, including the Property Services (Regulation) Act 2011, the Multi-Unit Developments Act 2011, and the Companies Act 2014, form the foundation of this guidance. In the event of any discrepancy between the guidance and prevailing legislation, the latter takes precedence.
Given the dynamic nature of the property management landscape, this guide is a living document, subject to periodic updates to align with evolving regulations and industry practices.