A new bill which will better protect the rights of apartment owners has been published today by the Minister for Justice, Equality and Law Reform, Dermot Ahern.
The Multi-Unit Developments Bill 2009 will introduce major reforms for the owners of existing and new apartment and multi-unit residential complexes. It will update legislation in apartment management and ownership and refocus legal protections towards owners of apartments.
Read an explanation of the Bill here
Minister Ahern said the reforms will improve the regulation of multi-unit developments and the governance of management companies in such developments.
Under the new bill, a developer must establish a property management company and transfer the common areas of the development to it before any apartment in the development is sold.
The Bill specifies new standards to ensure the smooth ongoing operation of such companies, including rules on the calculation of service charges, the holding of annual meetings and the preparation of reports for apartment owners within the complex.
The Bill also includes provisions for the resolution of disputes.