Ivana Bacik (Dublin Bay South, Labour) | Oireachtas source

I thank the Minister of State for the greater clarity on timelines.

To return to the point around regulation of owner management companies, we are all conscious that these companies are taking on immense roles. Many of them are volunteer-led and they are simply lacking, in many cases, in the necessary supports and guidance. They are lacking a regulator. That is why we have seen the Construction Defects Alliance, the Apartment Owners Network, the Not Our Fault campaign and others coming together to seek reform of the MUD Act to ensure better regulation and better supports are provided for owner management companies. I am looking at Ms Odette Doran's quote from the Not Our Fault campaign where, around the owner management companies, she states:

We are ... looking for the introduction of a regulator ... as there is no manual or guide for directors to turn to. These are ordinary people stepping up trying to do the best they can for the development they live in and being asked to make big decisions ... [and] We need a regulator ... as heading into this remediation project there are up to 100,000 homeowners, at an estimated cost of 2.5 billion.

It has long been acknowledged that there is a need for greater support, greater guidance and a regulator to cover owner management companies which are doing the best they can in many cases but are faced with a huge task.

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