Serious concerns about AIV’s compliance & management of HOAs

I’m writing as a homeowner in a scheme managed by AIV Property Specialists.

I’ve read the reviews here from Mike C, Kammy G and Yolanda K, and unfortunately my experience raises even more serious concerns.

In my case, AIV has been acting as the managing agent for our Homeowners’ Association. When I asked for proof that they were properly registered with the Property Practitioners Regulatory Authority (PPRA), I discovered that there are serious questions about whether the legal entity actually managing our scheme holds the correct Fidelity Fund Certificate (FFC) required for managing agents.

I have formally lodged a complaint with the PPRA and the matter is currently before an adjudicator. I therefore cannot state the outcome yet, but I can say the following based on my own experience and understanding of the Property Practitioners Act:

A “property practitioner” (including a managing agent) is supposed to hold a valid FFC in the name of the entity actually performing the services.

Where a practitioner renders services without the correct FFC, the Act says they are not entitled to keep commission or fees for that period, and affected consumers may be able to seek repayment through the proper channels.

For people like Mike, Kammy and Yolanda – and any other HOAs or owners dealing with AIV – I would strongly suggest that you:

Ask AIV in writing for a copy of the FFC in the exact name of the entity that manages your scheme; and

Contact the PPRA directly to confirm whether that certificate is valid for the relevant period and category; and

Take independent legal advice on whether you may be able to reclaim management fees or other charges if it turns out that AIV did not have the correct FFC while acting as managing agent.

This review reflects my personal experience and my understanding of the law. Anyone affected should verify the FFC status for themselves with the PPRA and, if necessary, consider pursuing their rights through the PPRA or the courts.

If you are an owner in a scheme managed by AIV and would like to be updated on the outcome of the PPRA adjudication or share your experience, you are welcome to email me at nve.ffc@gmail.com . Please note I am not a lawyer and cannot give legal advice, but I’m happy to share information about my own case.