{"id":5032,"date":"2018-12-22T18:30:00","date_gmt":"2018-12-22T18:30:00","guid":{"rendered":"https:\/\/legalblog.ie\/property-services\/"},"modified":"2023-09-03T19:30:30","modified_gmt":"2023-09-03T19:30:30","slug":"property-services","status":"publish","type":"post","link":"https:\/\/legalblog.ie\/property-services\/","title":{"rendered":"Property Services Regulation I"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_63 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/legalblog.ie\/property-services\/#Regulatory_Reforms\" title=\"Regulatory Reforms\">Regulatory Reforms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/legalblog.ie\/property-services\/#Property_Services_Regulatory_Authority\" title=\"Property Services Regulatory Authority\">Property Services Regulatory Authority<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/legalblog.ie\/property-services\/#Application\" title=\"Application\">Application<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/legalblog.ie\/property-services\/#Complaints\" title=\"Complaints\">Complaints<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/legalblog.ie\/property-services\/#Sanctions\" title=\"Sanctions\">Sanctions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/legalblog.ie\/property-services\/#Standards_and_Codes_of_Conduct\" title=\"Standards and Codes of Conduct\">Standards and Codes of Conduct<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/legalblog.ie\/property-services\/#Price_Register\" title=\"Price Register\">Price Register<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/legalblog.ie\/property-services\/#Lease_Register\" title=\"Lease Register\">Lease Register<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Regulatory_Reforms\"><\/span>Regulatory Reforms<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>2011 legislation provided a comprehensive licensing system covering all property service providers (PSPs). It provided for<\/p>\n<ul>\n<li>a system of investigation and adjudication on complaints against PSPs,<\/li>\n<li>the audit and inspection of PSP operations,<\/li>\n<li>the maintenance of minimum qualification and standards.<\/li>\n<\/ul>\n<p>The Court based system was replaced.\u00a0 A modern system of direct regulation by a regulator was substituted.<\/p>\n<p>The authority became the sole body involved in issuing a licensed.\u00a0 The requirement for an application to Court and or Revenue Commissioners was discontinued.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Property_Services_Regulatory_Authority\"><\/span>Property Services Regulatory Authority<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Property Services Regulatory Authority (\u201cPSRA\u201d) was established on an interim basis pending establishment by legislation. \u00a0The PSRA was a response to the inadequate and outdated nature of the previous regulation.\u00a0 The system of regulation arose from the recommendations of the auctioneering and estate agency review group.<\/p>\n<p>The legislation applies to property service provides.\u00a0 These will either be companies, persons, sole traders or employees involved in:<\/p>\n<ul>\n<li>Purchase\/sale by whatever means of any land including buildings wherever situate (Ireland or abroad);<\/li>\n<li>The auction of private property other than land;<\/li>\n<li>The letting of any property;<\/li>\n<li>The provision of property management services.<\/li>\n<\/ul>\n<p>Auctioneers, estate agents letting agents and property management agents are regulated by the authority.\u00a0 It covers property situate in Ireland as well as transactions in Ireland relating to property abroad.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Application\"><\/span>Application<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>All applicants will have to satisfy their competence through educational qualifications and\/or experience in order to obtain a licence.<\/p>\n<ul>\n<li>Applicants will have to satisfy the authority of their suitability in terms of character;<\/li>\n<li>Financial standing will be examined as will tax compliance;<\/li>\n<li>Licensees must have professional indemnity insurance and make a contribution to a statutory compensation fund;<\/li>\n<li>An appropriate licensing fee will be payable.<\/li>\n<\/ul>\n<p>The licensing system was simplified but became much more rigorous than before.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Complaints\"><\/span>Complaints<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The authority is empowered to investigate complaints made and institute investigations itself for the purpose of ensuring compliance with the\u00a0law and codes.\u00a0A person may make a complaint in writing against a PSP in relation to a property service.\u00a0 A complained form exists.<\/p>\n<p>The authority must investigate complaints unless it is satisfied:<\/p>\n<ul>\n<li>That it is not made in good faith;<\/li>\n<li>That is frivolous, vexatious or without substance or foundation;<\/li>\n<li>It is likely to be resolved by mediation or informally.<\/li>\n<\/ul>\n<p>If an investigation is required, the authority must appoint an inspector.\u00a0 The inspector has powers to:<\/p>\n<ul>\n<li>Require persons to supply information and records;<\/li>\n<li>Question any person for the investigation;<\/li>\n<li>Enter, inspect, examine and search any place in connection with the provision of a property service;<\/li>\n<li>Require the PSP his employees or agents to inspect documents and accounts;<\/li>\n<li>Be accompanied by a member of an Garda Siochana.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Sanctions\"><\/span>Sanctions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Upon completion of the investigation if the authority is satisfied that the PSP has engaged improper conduct it may do any of the following:<\/p>\n<ul>\n<li>Issue a demand warning caution or advice;<\/li>\n<li>Revoke the licence;<\/li>\n<li>Suspend the licence;<\/li>\n<li>Direct PSP to pay sums;<\/li>\n<li>Up to \u20ac50,000 to the PSP compensation fund;<\/li>\n<li>Up to \u20ac50,000 towards the cost of investigation;<\/li>\n<li>Up to \u20ac250,000 to the authority by way of a financial penalty<\/li>\n<li>Or a combination of the above.<\/li>\n<\/ul>\n<p>The legislation provides a range of offences.\u00a0 It is an offence to provide a service without a licence or to\u00a0obstruct an investigation, mismanage client\u2019s funds.<\/p>\n<p>Offences are prosecutable summarily with a fine of up to \u20ac5,000 or 12 months in prison or on indictment with a fine of up to \u20ac50,000 or five years in prison.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Standards_and_Codes_of_Conduct\"><\/span>Standards and Codes of Conduct<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The authority sets the standards for the provision of a property service.\u00a0 A code of practice sets standards of ethical behaviour and details how property services providers should deal with each other, their clients and the public.<\/p>\n<p>The authority has produced a code of practice for property service providers available on their website at www.npsra.ie.\u00a0 The code is voluntary pending enactment of the legislation.<\/p>\n<p>The code contains detailed provision in relation to conflict of interest, confidentiality, competency and professional development, insurance, conduct of business record of offers, advertising, direct marketing, relationship with client, client accounts, information to be supplied to the public, information to be supplied to customers, duties to customers, disciplinary boards, complaints sanctions.<\/p>\n<p>Property services agreements must contain certain details and information.\u00a0 This is set out in the schedule to the legislation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Price_Register\"><\/span>Price Register<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Part XII of the Act provides for a Property Price Register.\u00a0 This was provided for in the bill during the course of its passage through the Oireachtas.<\/p>\n<p>The Authority is to establish and maintain a Residential Property Price\u00a0 Register.\u00a0 It is to include details of the address, price, and date of sale.\u00a0 The particulars may relate to all residential properties in the state or a class of properties.\u00a0 The Register is to be made available for inspection free of charge on the Authority\u2019s website.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lease_Register\"><\/span>Lease Register<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Authority is to establish a commercial leases database.\u00a0 This is to be in such form as the Authority thinks fit.\u00a0 In respect of each lease in force, it is to contain particulars of the date of the lease, term, rent and other prescribed particulars.<\/p>\n<p>The commercial lease database is to be available for inspection by persons on an appropriate fee at the Authority\\&#8217;s principal offices.\u00a0 It is to be available on the website in a manner that is readily accessible.<\/p>\n<p>The tenant under a relevant commercial lease shall within the relevant period following the day in which stamping certificate is received, give notice to the Authority in the specified form setting out the following details:<\/p>\n<ul>\n<li>\u00a0date of commencement,<\/li>\n<li>capital consideration,<\/li>\n<li>the frequency of rent review,<\/li>\n<li>particulars of who is liable for rates, repair, insurance, service charge,<\/li>\n<li>\u00a0net floor area per each floor of the property,<\/li>\n<li>\u00a0particulars of rent-free periods, a fitting out allowances, capital contributions,<\/li>\n<li>any break, loss, and release,<\/li>\n<li>the stamp certificate number,<\/li>\n<li>such other prescribed particulars.<\/li>\n<\/ul>\n<p>Where a rent review has been determined in respect of a relevant commercial lease, the tenant under the lease or other persons appointed by him shall be within the relevant period following the day of determination give the Authority a notice \u00a0setting out particulars of the rent review, particulars of an variation made to release and such other particulars as may be subscribed.<\/p>\n<p>Where a tenant ceases to have to an interest in commercial property, subject to a commercial lease the tenant shall within the relevant period gave notice to the Authority setting out particulars of cessation of the lease.<\/p>\n<p>Any provision in the contract or agreement which has the object or effect of preventing or restricting disclosure of the above information is ineffective.\u00a0 A person who without reasonable excuse, contravenes the above obligation is guilty of an offence and is liable on summary conviction to a Class A fine.\u00a0 The relevant period is 30 days or such other period as may be prescribed.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-5032\" data-postid=\"5032\" class=\"themify_builder_content themify_builder_content-5032 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n","protected":false},"excerpt":{"rendered":"<p>Regulatory Reforms 2011 legislation provided a comprehensive licensing system covering all property service providers (PSPs). It provided for a system of investigation and adjudication on complaints against PSPs, the audit and inspection of PSP operations, the maintenance of minimum qualification and standards. The Court based system was replaced.\u00a0 A modern system of direct regulation by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[367],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/5032"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=5032"}],"version-history":[{"count":0,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/5032\/revisions"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=5032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=5032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=5032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}