Tuesday March 31, 2020

Apartment owners’ group warns of bailout time bomb

The Apartment Owners’ Network, which represents 470 multi-unit stakeholders, has warned Paschal Donohoe that a financial 'time bomb' is ticking in the apartment sector and that many owners’ management companies are 'grossly underfunded'

Barry J Whyte

Chief Feature Writer

@whytebarry
2nd September, 2018

The representative body for apartment owners in Ireland has warned the Minister for Finance that management companies behind apartment blocks “will need to be bailed out by the state” in the near future.

The Apartment Owners’ Network (AON), which represents 470 multi-unit stakeholders, has warned Paschal Donohoe that a financial “time bomb” is ticking in the apartment sector and that many owners’ management companies are “grossly underfunded”.

The...

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