Establishment of Commercial Lease Database
The Property Services Regulatory Authority (PSRA – www.psr.ie) recently commenced publication of the Commercial Leases Database as provided for by the Property Services (Regulation) Act 2011.
In much the same way as the Residential Property Price Register and Register of Licensed Property Services Providers operate, the new database will offer greater transparency in the property market. The database will provide details of all Commercial Leases entered into after the 3rd April 2012.
The information contained in the database includes the address of the leased commercial property, the date of the lease, the terms of years of the lease and the rent payable in respect of the property.