- Since the introduction of the Property Services (Regulations) Act 2011 all commercial leases from the 3rd of April 2012 onwards should be registered. The obligation to register and provide the necessary information falls on the tenant.
- The obligation to register applies regardless of the term or nature of the lease/tenancy and applies to occupational leases (where Tenant is in occupation) containing rent review provisions, short term lettings and long leases.
- Under Section 87 of the above Act, the following information should be provided in relation to each commercial lease:
- Address and description of property;
- Date of lease;
- Term of years;
- Rent payable in respect of the property;
- Particulars provided under Section 88;
- Such other particulars as may be described by regulations.
- Under Section 88 of the Act the obligation to register apply in the following circumstances:
- On the creation of a lease;
- On a rent review;
- When the tenant ceases to have an interest in the lease, assignmentor surrender;
- Registration should be done on the psr.ie website and a return should be lodged within 30 days of:
- The day on which the stamp duty certificate is received by the tenant;
- Determination of rent review;
- Determination of interest.
Should you require further assistance in relation to the above please contact us on 2960666 or alternatively by emailing info@dillon.ie
