Cian O'Callaghan (Dublin Bay North, Social Democrats) | Oireachtas source

I raised with the Taoiseach previously the need to regulate management companies effectively. As apartments from the Celtic tiger era reach 20 years of age, management sinking funds will be needed increasingly to repair roof leaks, replace lifts and so on. When sinking funds are insufficient, repairs will not be take place or owners will be levied sums that they simply cannot afford. Failure to regulate management companies properly combined with sinking funds being used to fund building defects means that in the next few years this crisis is going to come to a head.

The commitment in the programme for Government to review the Multi-Unit Developments Act 2011 has not been progressed and while the Housing Agency drafted regulations on sinking funds and service charges last February, the Department of Justice has failed to publish these. I ask the Taoiseach to provide an update, as I have requested previously, on when the draft regulations will be published, when the commitment in the programme for Government to review the Multi-Unit Developments Act be implemented and when a regulator for management companies, with robust enforcement powers, will be established.

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