What is a management company?

In Northern Ireland, the law requires that places of residence with common (or communal) areas, amenities or services must be owned and managed by a management company.

 

This management company is normally made up of those who own properties in the development. When you first purchase your home you will be asked to buy a share in the management company which means you own an equal stake in the common grounds of your development.

Brackenwood then act as the managing agents of this management company, hiring contractors, budgeting, creating service timetables and arranging debt collection from all shareholders. 

For more information please see the FAQ list below.

 

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FAQ's

Why does my development require a management company?

Any development built after 2003 in Northern Ireland with common areas (i.e. grass, corridors, grass, flower beds etc) which are not the belonging of one sole person is deemed as common land and property of all persons who own a property within the development. By law, these areas must be insured for public liability and the upkeep of these will be managed by a managing agent as no one property owner has sole responsibility for these areas.

Do I get a say in what work is carried out by the management company?

Yes, each development is entitled to an Annual General Meeting (AGM) with a property manager at Brackenwood. At this meeting a range of items will be discussed including the allocation of the budget. Insurances required by law are exempt

from discussion or negotiation.

What insurances does my property management company cover?

If you live in an apartment block your insurance will include buildings insurance. This is because no one owns the roof of the apartment building. This insurance covers the external structure, internal walls, fixtures and fittings and communal areas within your apartment block. It does not, however, cover the contents within individually owned apartments. It is recommended that you take out your own insurance to protect the content within your own home or if you intend to rent your property to buy a landlord policy. 

Those who live within a development with shared spaces will also be covered by public liability insurance. This insurance protects against members of the general public who may incur injury whilst on the communal areas and seek legal action against the residents. 

How do I pay my bill?

When your common lands have been transferred from the developer to the management company, Brackenwood will provide each shareholder with a welcome pack which explains the budget for their estate management for the year. This can be paid yearly, or monthly by standing order. To set up a standing order call the Brackenwood accounts team and someone will be able to assist you. 

Where does the money I pay go to?

 

The money you pay for gardening & maintenance will go into an individual bank account for your development. This creates a fund for the development which is used solely for the upkeep and repair of the common areas held by the shareholders. This money is used on an if-and-when basis, so money will not be spent from the budget unless works have been done.

 

How do I report an issue with my common areas?

We have multiple contacts within a range of maintenance industries. Please report any issues to Brackenwood and we will contact the required personnel to arrange their attendance to your property. Due to GDPR legislation we cannot provide contact details of these persons to residents without their explicit consent.