The mafia like operations of management companies continues to cause grief for residents of estates and apartments (See here for analysis).
On last Tuesday’s Liveline (58th min) three residents of an apartment complex told their stories. Here’s a summary.
Received a bill for €2,037, last years bill was €1,400.
Reason for increase – Unoccupied apartments owned by the developer and Dublin City Council were not bringing in funds so the residents had to make up the shortfall. The developers are holding onto the apartments until the property market improves.
The board of directors of the management company is made up of the developers.
When the resident questioned the bill it was admitted an error had been made and the bill was reduced to €1,800.
When the resident contacted Liveline the bill was further reduced to €1,550, a figure that had originally been agreed between the company and the resident.
The residents own the properties and are paying massive mortgages but have little or no control or rights in how the management companies operate.
The management companies are totally unregulated.
The Government has been promising for years that they will enact legislation to regulate these people.
This government is a developer friendly administration.