Vulture funds and absentee landlords 'hurting efforts on dereliction' in Cork
Linehan Dereliction Her Of Mary Issue Councillor O'hare Independent Is Youghal Eddie File Foley Major Said Hometown In A Picture:
Vulture funds and absentee landlords are proving major stumbling blocks to tackling dereliction in some towns and villages in Co Cork, council officials have claimed.
In addition, marriage break-ups and issues surrounding the transfer of ownership (probate) after a person’s death are also holding up renovations of dilapidated properties.
County council officials made the claims while discussing efforts to tackle a number of derelict properties in the East Cork region.
Independent councillor Mary Linehan-Foley had raised the issue at a meeting of the East Cork Municipal District Council, saying dereliction is a major issue in her hometown of Youghal, in the village of Castlemartyr, and in Midleton.
Midleton-based Fianna Fáil councillor Ann Marie Ahern and Fine Gael councillor Susan McCarthy also expressed concerns about the problem of dereliction.
In response, council officials said they are “acutely aware” that Youghal has more problems with derelict buildings than Midleton, or any of the villages in the region.
The officials said they have engaged with some of the owners of properties on Youghal’s South Main St, in particular, in the hope of finding a resolution.
Officials said they encountered problems with two buildings on the town’s North Main St as they “are owned by absentee landlords who are proving impossible to track down".
Council officials also said they were having difficulties in getting resolutions where vulture funds are involved.
“The problem is that a lot of properties are now owned by vulture funds and they are extremely difficult to deal with,” said one official.
She said that problems with ownership/and or responsibility can arise as a result of marriage breakdown or when the transfer of the title deeds hasn’t been resolved after the previous owner dies.
Fianna Fáil councillor Ann Marie Ahern, who is an auctioneer, asked officials if the council could acquire derelict properties through compulsory purchase orders, but was told that “this is very complicated".
Officials said they are “constantly working” to find conclusions and have had some success in getting five property owners in Midleton to bring their buildings up to standard and are confident of one positive outcome soon in Castlemartyr.
They said they have “engaged again” with two property owners in Midleton in the hope of finding a resolution.