Michael McGrath (Cork South Central, Fianna Fail)
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70. To ask the Minister for Finance if he will provide details of the number and total value of rent reductions approved by the National Asset Management Agency to tenants who hold leases in respect of NAMA properties; the procedure involved; and if he will make a statement on the matter. [32190/14]

Michael McGrath (Cork South Central, Fianna Fail)
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133. To ask the Minister for Finance the number of rent reductions that have been approved by the National Asset Management Agency; the number of applications currently outstanding; and if he will make a statement on the matter. [32484/14]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 70 and 133 together.

I am advised by NAMA that, to date, it has received 338 eligible applications for rent abatement through its debtors and receivers.  Of these 293 applications have been approved, 35 are currently being assessed and 10 have been refused.  The aggregate annual value of approved rent abatements approved to date is  €19m.  NAMA has also granted long-term rent reliefs with a value in excess of €40m.   I am advised by NAMA that 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, .