Dáil Éireann Debate, Wednesday - 7 November 2012
143. Deputy Seán Kenny asked the Minister for Justice and Equality the progress that has been made by the Property Services Regulatory Authority in registering property management companies and management agents; the way the Property Service Regulatory Authority is impacted by the Multi Unit Development Act; and if he will make a statement on the matter. [48818/12]
Amharc ar fhreagraThe Property Services Regulatory Authority was established on 3 April 2012 under the Property Services (Regulation) Act 2011 to regulate, control and supervise property services providers (i.e. auctioneers/estate agents, letting agents and property management agents) and to establish and enforce standards within the property services industry.
A new licensing regime has been established under the Act and to date a total of 5,107 licence applications for the provision of property services have been received. The property services in question are: (a ) the auction of property other than land, (b) the purchase or sale, by whatever means, of land, (c) the letting of land, or (d ) property management services. Of the applications received to date some 535 are from persons whose principal business is the provision of property management services. A number of persons holding licences for the sale and letting of land may also occasionally engage in the provision of property management services.
The Property Services Regulatory Authority has no statutory function under the Multi-Unit Development Act 2011. In relation to property management companies in multi-unit developments, the Multi-Unit Developments Act 2011 provides the statutory basis for such companies (which are generally known as owners' management companies and which comprise the owners of units in the development) to take ownership of and manage the common areas of multi-unit developments and provides for the fair and effective management of such developments. In general, an owners' management company is a company registered under the Companies Acts and, as such, is subject to company law.
