Apartment Owners' Network submission for a MUD Defects Remediation Scheme

Calico said:

Buying an apartment is not the same as buying a house and I think it's a bit disingenuous to say it is.

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Agreed, but most people do not understand this. And if they are bailed out without cost to them, people will continue to underestimate the potential issues with apartments.

Where on earth is Homebond ?

And where ever it is, who let it escape there.

HomeBond is the leading provider of structural defect cover for new homes in the Republic of Ireland since 1978. According to its website. https://www.homebond.ie/about_us/

From what I've heard, Homebond is useless for all of this. Not sure exactly why though.

THE_Chris said:

From what I've heard, Homebond is useless for all of this. Not sure exactly why though.

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Many threads on here over the years detailing Homebond abdicating responsibility for all manner of defects people assumed would be covered.

Another example. Yes, its the journal, but still. Each apartment was to pay €68,000 to fix fire safety issues, with €15,000 due by the end of 2022. They voted against this at the OMC meeting. Quite what happens next is unknown. The total cost is €16 million.

To be fair, this is an unsurmountable sum for most people - either this years installment or the full whack. So what is the solution for these people? It's the same every time, building defects that now result in costs that people can't afford, so the place will close or have fire wardens that just spread a higher cost over a longer period.

RTE have picked up on this now, with some additional information. Good to see that all of this is being reported, but the fact that it is being reported doesn't materially change anything. These people will still need a solution.


It'll be interesting to see the Prime Time debate on it tonight.