Mr. Des McCabe:

The Apartment Owners Network probably has had representatives of 300 developments in contact with it. This is probably the number-one issue being reported to the network. It is probably the main concern of owners and directors of owners' management companies. It compounds the other issues associated with the management and regulation of owners' management companies in regard to sinking fund provisions and the collection of service charges. It is compounding already-difficult issues concerning the running of an owners' management company and preparing for the future. A latent defect on top is a bit of a bombshell from many owners' management companies to try to deal with.

We would all like to see the Safe as Houses? recommendations implemented. From a practical point of view, it would help initially if owners' management companies could raise low-cost finance directly. This issue is urgent. People are not necessarily going to wait for the State to come running to the door to fix this. They want to try to get a head start. If low-cost finance were available to the owners' management company, the problem could be solved at a quicker rate. Currently, because it is so difficult to collect service charges, a project that might take two or three years to complete might take five or six in reality. It could take this long to have the money up front to complete the project. If the owners' management company had the ability to raise low-cost finance up front, it would help at a practical level. Also on a practical level, a tax relief for owner-occupiers would help. Landlords have at least some ability to write off.