AQW 9557/22-27

Ms Kate Nicholl
Alliance Party
South Belfast

Tabled Date: 08/04/2024
Answered On Date: 26/04/2024
Priority Written: No

Question:
To ask the Minister for Communities to detail the duties and responsibilities of property management firms and letting agencies towards (i) landlords; and (ii) tenants that employ their services.

Answer:

The duties and responsibilities of the management company will normally be set out in a lease. Management companies are governed by general company law provisions, the Department for Communities has no responsibility for property management firms.

Management companies are formed with the responsibility of managing a building after all of the various units have been sold. In leasehold properties such as apartments, the lease will require each owner to pay a service charge, designed to cover the common areas of the development. The management company collects that service charge which provides the funds for the maintenance of the common areas and provision of services.

The duties and responsibilities of a managing agent will be subject to contractual or service agreements between the management company and the managing agents. The precise nature of the duties and responsibilities of the management company and, if present, the managing agent, can therefore vary significantly between different developments.

Letting agencies are responsible for managing rental properties on behalf of landlords. These agencies act as intermediaries between the tenant and the landlord, providing a range of services that include marketing the property, finding tenants, conducting viewings, collecting rent, and managing repairs and maintenance.