Dublin South Central

How many tenants of multi unit apartment blocks are locked into an agreement with the developer to pay a management fee? How many owners of apartments need the permission of the management company to sell their property? Many of the providers of maintenance services are the same developers who built the building and are in default with the banks but still get monies from their developments some of which they no longer hold title to. This is a sinister development that has not been fully explored by NAMA .If a developer’s main source of income is derived from holding maintenance contracts, how much of this capital do you think he will reinvest into service provision? Government have promised legislation on this issue but it is slow in bringing it forward .Is this just another example of looking after your friends?Now the government are considering a property tax which will be imposed on top of a maintenance charge.Most new homeowners would of included the cost of stamp duty in their mortgage borrowings so now they face a triple hit .