Paudie Coffey (Waterford, Fine Gael)
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The Residential Tenancies Act 2004 regulates the tenant-landlord relationship in the private rented residential sector. The Residential Tenancies (Amendment)(No. 2) Bill 2012 will amend the Act to provide for a deposit protection scheme to be operated by the PRTB. Under the scheme, landlords will lodge tenancy deposits with the PRTB at the same time as they are registering their tenancy. The PRTB will hold these deposits for the duration of the tenancy and will retain the interest generated on the deposit funds towards funding the cost of operating of the scheme. If the landlord agrees, the deposit will be repaid to the tenant at the end of the tenancy. Where there is no agreement between the landlord and tenant on how the deposit is to be repaid, the parties may apply to the PRTB for dispute resolution.

Any deposit paid by the tenant to the landlord on entering into the agreement for the tenancy or lease will be repaid to the tenant subject to compliance by the tenant with provisions regarding default in the payment of rent or damage to the property beyond normal wear and tear.

The deposit protection scheme will not apply in circumstances where a tenancy does not exist, e.g. the property is let under a licensing arrangement.

The Residential Tenancies (Amendment) (No. 2) Bill 2012 has passed all stages in the Dáil, together with Committee Stage in the Seanad and will return to the Seanad for Report Stage on Tuesday 24 November.