On 3 April 2012, the Minister for Justice and Equality, Alan Shatter, established the Property Services Regulatory Authority on a statutory basis.
One of the functions of the Authority is to establish and maintain a commercial leases database. Certain details of commercial leases entered into after 3 April 2012, including rent and rent free periods, must be submitted to the Authority by the tenant or a person authorised in writing by the tenant to do so. The relevant details must be submitted to the Authority within thirty days of the receipt of a Revenue stamp certificate. The Commercial Leases Database will be made available for inspections on payment of a fee to the Authority.
The Authority is also responsible for publishing details of residential property sales prices in Ireland, including the address of the property; the price at which it was sold; and the date of sale. These details are to be made available free of charge on the Authority’s website.
Contributed by Conor Treacy.
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