Dáil debates

Tuesday, 26 March 2013

Topical Issue Debate

Upward-Only Rent Reviews

5:50 pm

Photo of Alan ShatterAlan Shatter (Dublin South, Fine Gael) | Oireachtas source

-----but I am happy to communicate with Deputy Calleary in that regard.

I draw the attention of the House to the existence of a rent review arbitration code, to be found on the Department of Justice and Equality website, which was developed by an expert group whose membership was drawn from all relevant stakeholders and which provides a mechanism to deal with the resolution of rent review disputes in the commercial property sector. The code contains detailed provisions concerning the production of comparative evidence relating to property transactions and places a firm duty on all parties to disclose all relevant information in their possession. As matters stand, parties are free to specify that this code should apply to rent review arbitrations and all parties are encouraged to make use of its provisions. The effectiveness of the code and the extent to which it is utilised by stakeholders will be reviewed over the coming months.

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