Dáil Éireann Debate, Thursday - 18 December 2014
116. Deputy Michael McGrath asked the Minister for Finance the number of applications for rent reviews received by developers whose debts are owned by the National Asset Management Agency; the number which were successful; and if he will make a statement on the matter. [49284/14]
View answerI am advised by NAMA that, to date, it has received 370 eligible applications for rent abatement through its debtors and receivers. Of these 339 applications have been approved, 19 are currently being assessed and 12 have been refused. The aggregate annual value of approved rent abatements date is €22m. To date, NAMA has approved long-term rent reliefs with a value in excess of €40m.
Tenants wishing to make an application for rent abatement through their landlord, where that landlord is a NAMA debtor or Receiver and the relevant property is security to a NAMA loan, should consult the NAMA Guidance Note on Upwards Only Rent Reviews, which sets out the process involved. The Guidance Note in available on the NAMA website, www.nama.ie.
