Management fees - a licence to print money
Swords Sinn Féin Representative Matt McCormackhas described the fees paid by purchasers of houses and apartments in the North Dublin areas to Management Company’s as ‘…nothing short of daylight robbery, a licence to print money’. Not only do young couples starting out in life have to have a mortgage to worry about, but now they also have a yearly fee’s on there back”.
Mr McCormack said: “Management companies are not regulated by the state or by local authorities and effectively they can charge residents as much as they want for as long as they want.
“It is nothing short of daylight robbery, a licence to print money. For young couples starting out in life they not only have a mortgage to worry about, but every year increasing management fees.”
A solution to Management Fees was put forward in March by Sinn Féin in Fingal County Council with a motion that read:
“That the Council calls on the Manager to write to every property management company in Fingal, inviting them to discuss the possibility of Fingal County Council purchasing, for a nominal fee, their public open space, public areas and roads, in order to allow for these areas to be taken into Council charge.”
The motion was subsequently withdrawn due to a lack of support from the Labour Party, Fianna Fáil, Fine Gael and the PDs.