Lucinda Creighton (Dublin South East, Fine Gael)
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Question 297: To ask the Minister for Justice and Law Reform the steps he has taken to implement the recommendations of the report of the working group on transparency in commercial rent reviews; and if he will make a statement on the matter. [35028/10]

Dermot Ahern (Louth, Fianna Fail)
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I have undertaken to progress the recommendations of the Working Group on transparency in commercial rent reviews contained in the report which was published in August. The Working Group recommended the establishment of a public database containing relevant details of letting arrangements and rent reviews in the commercial property market. An appropriate amendment is being developed within the Department for inclusion in the Property Services (Regulation) Bill 2009 which would see the Property Services Regulatory Authority being given responsibility for the management of the database. The precise operational details pertaining to the database have yet to be finalised.

Also amongst the recommendations is the adoption, by landlords and tenants alike, of the rent review arbitration code which is appended to the report and which is intended to achieve a uniform and transparent procedure for the resolution of disputes in the sector. The Group which I established had representatives from all of the key stakeholders in the commercial property market. They have all signed up to the Report and I am confident that there is a willingness to implement its recommendations.

The Group has also made a number of ancillary recommendations which are largely intended to point parties in the direction of good practice. For example, it is recommended that rent reviews take place as close to the review date as is possible to avoid any unnecessary lag between the market conditions prevailing at that date and those at the time the review actually takes place.