Dáil Éireann Debate, Tuesday - 12 December 2006
133 Mr. G. Murphy asked the Minister for the Environment, Heritage and Local Government when legislation to regulate property management companies and agents will be implemented; and if he will make a statement on the matter. [42530/06]
Amharc ar fhreagra
The Government Legislation Programme provides for the publication in 2007 of a Property Services Regulatory Authority Bill, which is being developed by the Department of Justice, Equality and Law Reform to give effect to recommendations in this area by the Auctioneering/Estate Agency Review Group. It is proposed that this legislation will provide for the regulation of property services, including the establishment of a Property Services Regulatory Authority (PSRA). I understand that proposed functions of the PSRA include licensing, regulating and dealing with complaints relating to managing agents. These commercial firms, which provide property management and maintenance services in various developments, are a significant element of the property management sector.
Management companies, which are composed of the property owners in a particular development, are generally constituted under the Companies Acts and are required to comply with the provisions of company law. I understand that the Minister for Enterprise, Trade and Employment is developing proposals for a Company Law Reform and Consolidation Bill, which, it is expected, will include provisions to help alleviate certain problems in relation to management companies in the context of company law.
The Director of Corporate Enforcement is launching a consultation paper today on the Governance of Apartment Owners' Management Companies. I understand that this paper contains draft guidance focused on improving the governance of such companies, which should help owners to ensure effective management of the assets that are in company control.
The Law Reform Commission (LRC) is currently examining legal aspects generally regarding the management of multi-unit structures and I understand that a consultation paper will be available within a few weeks. In light of the LRC report, the Departments concerned will consider the need for any further measures to be taken in this area.
Obligations of property owners in relation to management companies are the subject of private contracts and buyers should obtain adequate legal advice and information when signing contracts. A recent report and booklet published by the National Consumer Agency provides useful consumer information on property management arrangements.
