This SME Guide to Property provides a comprehensive resource for SMEs on all aspects of property that impacts their business. The guide is intended for everyone from budding entrepreneurs starting a new business through to existing business owners keen on expanding.
This guide contains a range of information on topics including leasing a property, commercial rates and rent reviews.
As an owner of an apartment, you are a member of the Ownersʼ Management Company (OMC) and have voting rights for decisions concerning your development. Under the MUD Act, each unit has a vote and therefore can influence how their development in run.
It is therefore important that you get involved and participate. You should familiarise yourself with the Directors of the Owners Management Company, who will be owners just like you (unless the development has yet to be transferred from the developer) and make your views on the development known.
There will probably be an increasing number of floods in the future due to changes in weather patterns, the amount of new building on low- lying areas in recent years, and other local factors. Many properties which have not previously been at risk of flooding now are.
It is estimated that some 40,000 – 50,0001 properties in Ireland are at risk. For most of these properties the risk of being flooded in any one year is still small, but for several thousand properties, especially those which have been flooded in recent years, the risk is more significant.