Seanad debates

Wednesday, 17 December 2008

11:00 am

Photo of Dominic HanniganDominic Hannigan (Labour)

We need to make sure that we tackle this problem. The Leader should arrange for officials from Fáilte Ireland to come in here and tell us what they will do to make sure that the competitiveness of our tourism market is not affected by the currency fluctuations.

I congratulate the Office of the Director of Corporate Enforcement on its publication of a guide to management companies. It outlines not just owners' rights, but it is also a guide for the agents of management companies and what they should do. It is about time we saw this because management companies are causing heartache for many thousands of property owners in the commuter belt. I received an e-mail yesterday from somebody in Tyrrelstown, outside my area, complaining that there are 2,500 apartments, but nobody knows why they are paying management fees. They are unregulated and fees can be as high as €100 per month. Senator Ó Murchú mentioned the cost of mortgages, yet for many young couples, the cost of management fees must be added to that.

We saw action from the Office of Consumer Affairs earlier this year. We have advice published by the Office of the Director of Corporate Enforcement, but we have not seen action by the Government, in spite of promises to the contrary in recent years. I again ask the Minister to do something to regulate management companies.

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