Róisín Shortall (Dublin North West, Independent)
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210. To ask the Minister for Environment, Community and Local Government his views on introducing a deposit retention scheme for the private rented sector; and if so, the timeframe; and if he will make a statement on the matter. [2952/15]

Paudie Coffey (Waterford, Fine Gael)
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Deposit retention and rent arrears are the main categories of dispute from applicant parties for dispute resolution according to the annual report of the Private Residential Tenancies Board (PRTB) for 2013. The Programme for Governmentincludes a commitment to establish a tenancy deposit protection scheme. On foot of this commitment the PRTB commissioned research on such a scheme and reported back to my Department with recommendations in that regard. The subsequent report assessed a number of different options for delivery of a scheme ranging from one where all elements are delivered by the PRTB to one where all elements are outsourced to a private operator. The report examined each option in terms of both insurance and custodial type schemes.

All of the options presented in the report were considered and Government approval was secured for the establishment of a tenancy deposit scheme based on a custodial model. In a custodial scheme, tenancy deposits are transferred to the scheme for the duration of the tenancy. They are then repaid by the scheme operator following agreement between the landlord and tenant or following the outcome of a dispute resolution process in cases where there is no agreement.

It is my intention to introduce the legislative amendments in relation to the scheme at Committee Stage of the Residential Tenancies (Amendment) (No. 2) Bill 2012 in the Seanad in the first quarter of 2015.