Speaking at a Labour Party public meeting in St. John GAA club, Balinteer this evening, Deputy Burton said: “For more than five years now, my Labour Party colleagues and I have been campaigning for a new regime for property management companies

“In recent months and years, the focus has understandably shifted from issues like management companies to the economy, banks, and jobs. There is a world of hurt our there, and not a day goes by without someone writing to me or stopping me in the street.

“People are angry about the state of the nation.

“In some ways, Brian Cowen’s sub-par communication skills are not the core issue. They are the straw that broke the camel’s back. Not only has Brian Cowen driven the economy into a ditch, but he shows absolute contempt for all those who question his driving, as well as innocent bystanders. That is the crux of the matter.

“They feel betrayed by the string of broken promises from the Fianna Fáil government that still clings to power.

“Unfortunately, the Multi-Unit Development Bill that is now finally going through the Dáil constitutes yet another broken promise to the tens of thousand of people living in managed estates and apartments.

“People are faced with sky high management fees, often paid for a very poor standard of service in return. The fee structures are often opaque and lack supporting invoices or documentation. Some complexes are badly in need of refurbishment where no sinking fund has been provided and all of this has been exacerbated by the number of developers who have gone bust or who are simply cowboys.

“People were promised a new regime for property management companies. And yes, the long-promised legislation now going through the Dáil will usher in a new regime, but it has one fatal weakness – many of its key sections will cover management companies ‘going forward’, to use Brian Cowen’s mot du jour, but will do little to aid the tens of thousands of people in existing management companies.

“In many instances, property developers have established management companies using a grossly unfair weighted voting system which allows them to retain control of the management company even when they have sold all but one of the units in the development. The legislation, as it stands, fails to outlaw this practice for existing developments.

“The legislation must be amended so as to give owners and residents real influence in their management Company, no matter when it was set up. The Labour Party has tabled a number of amendments which would greatly expand the scope of this legislation,

“It seems extraordinary that Fianna Fail appears to have caved in yet again to the interests of developers over those of the residents who have bought in to managed estates and apartment complexes.

“These developers made hay on the backs of a lot of ordinary people when the property boom was at its height. Now that the property boom is over, many developers are unwilling to deal with legacy issues in relation to managed estates.”