Buying And Living in a Multi-Unit Development Property in Ireland
Foreword - the aim of this guide
This Guide is intended for anyone who is thinking of buying, or has bought, a property unit such as an apartment in a multi-unit development.
The term "multiunit development" is used to describe a building or a group of buildings comprising multiple residential properties that share certain physical areas, such as car parks, entrance halls and gardens; and certain services, such as security, plumbing, lifts and waste disposal.
Buying and living in a multi-unit development is different to buying and living in a traditional house, both from a legal and practical perspective.
This Guide is intended to explain the main characteristics of multi-unit development life and assist consumers in understanding these differences.
Multi-Unit Development Forum
Through the work of the Multi-Unit Development Forum, the National Consumer Agency has developed this Guide to highlight the key issues which might be considered with regard to multi-unit development living.
The Agency wishes to thank the Forum participants for their assistance in developing this Guide.
The Guide draws on previous work by the Agency in this area, consumer correspondence on multi-unit developments and management companies and existing sources of information in the public domain, in particular, material published by the Office of the Director of Corporate Enforcement, the Companies Registration Office, Dublin City Council and the Department of the Environment Heritage and Local Government.
The Multi-Unit Development Stakeholder Forum and the National Consumer Agency wish to acknowledge the valuable work of these bodies in this area.
New regulator
It is understood by the Agency that arrangements for the regulation of property service providers will be formalised under the auspices of the National Property Services Regulatory Authority (NPSRA).
The Bill providing for the statutory establishment of this Authority is expected to be published by the Government in 2008. The content of this Guide is subject to any specific requirements that may be introduced or revised by the NPSRA or any other relevant statutory body.
The Guide is presented for information purposes only and does not constitute financial, legal or professional advice. It does not represent an invitation or inducement to engage in investment activity, or enter into any type of contractual arrangement.
Neither does it advise on the merits of, or recommend, any particular product, service or provider. It is intended as an outline of the subject matter only.
The guide may not address the specific circumstances of a particular individual or development. Consumers should check any issues it raises with the relevant professionals or statutory bodies where appropriate.
While every effort has been made to ensure that the information provided is accurate, the National Consumer Agency assumes no responsibility or liability arising from any errors or omissions.
In particular, to ensure that the terms and conditions of the contract to purchase a property adequately safeguard their interests, consumers should always consider seeking independent legal advice and satisfy themselves that they understand the terms and conditions of contract before entering into a contract to purchase a property.
It should be noted that each chapter of this Guide is intended to be read on an individual basis, therefore there is some repetition throughout.