How OMCs can be pennywise as recession looms
Owners’ management companies should take action now to future-proof their revenues after the Covid-19 crisis has passed
Many owners’ management companies, or OMCs, were experiencing financial challenges pre-Covid-19. As the economy moves into recession, there are obviously implications for OMCs. The good news is that they can take action now to diminish associated negative effects.
OMCs are the vehicles by which multi-unit residential developments in Ireland are managed, including apartment developments and some housing estates where common areas are owned by an OMC.
Most OMCs operate by billing out annual service...
Subscribe from just €1 for the first month!
Exclusive offers:
All Digital Access + eReader
Trial
€1
Unlimited Access for 1 Month
*New subscribers only
Annual
€200
€149 For the 1st Year
Unlimited Access for 1 Year
Quarterly
€55
€42
90 Day Pass
2 Yearly
€315
€248
Unlimited Access for 2 Years
Team Pass
Get a Business Account for you and your team
Related Stories
Culture must come before continuity in any successful remote-working plan
In our business, colleagues are friends, leaders are visible, teams collaborate, success celebrated and juniors elevated. Remote working, however, just feels like hard work
Time to give the property sector something to build on
Demand for housing remains as strong as ever, but Covid-19 restrictions on construction are having a damaging effect on supply
Plan ahead coolly to secure the mortgage you need
Property experts predict a surge in house purchases when lockdown restrictions are lifted again – so make sure you are fully prepared when seeking mortgage approval
Mortgages are finally moving with the times
Recent advances in fintech have meant that mortgage approval has gone from hours to seconds while also becoming more cost competitive
