Written answers

Tuesday, 31 January 2017

Department of Finance

NAMA Property Leases

Photo of Ruth CoppingerRuth Coppinger (Dublin West, Anti-Austerity Alliance)
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134. To ask the Minister for Finance the number of instances tenants of residential properties controlled by NAMA have been given notice to quit in order to achieve vacant possession. [4326/17]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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NAMA does not own property.  Rather, it has acquired loans for which the properties act as security.  Control of the properties rests with debtors and receivers and not with NAMA.  In that regard, I am advised that information is not available on the total number of instances in which NAMA debtors and receivers have sought vacant possession in advance of residential property sales.

In its capacity as a secured lender, it is NAMA's policy that, where possible, borrowers and receivers should avoid seeking vacant possession of residential property in advance of asset sales in order to minimise disruption to people living in these homes.  Tenants of such properties continue to have the benefit of existing lease terms and of the statutory protections in place in the residential rental market.  In instances where NAMA debtors and receivers do seek vacant possession in advance of the sale of a residential property, they are legally obliged to act fully in accordance with the statutory rights and other protections afforded to tenants and to act within the terms of tenancy agreements.

All landlord-tenant rights are governed by multiple pieces of legislation, mainly under the aegis of the Minister for the Housing, Planning, Community and Local Government.  This legislation attempts to balance and protect the rights of the tenant and the landlord and sets out the specific limited circumstances under which landlords are able to seek vacant possession of properties.  These restrictions apply to all landlords regardless of who owns their loans.

Under Pillar 4 of Rebuilding Ireland, the Planning and Development (Housing) and Residential Tenancies Act 2016 amending Section 35a of the Residential Tenancies Act 2004 recently was enacted as part of the Government's rental strategy.  The effect of the provision is to require that tenancies are protected where a landlord or investor wishes to sell more than 10 properties in a single development.

These measures are accompanied by a number of other actions to enhance the Residential Tenancies Board's enforcement and dispute resolution powers.  These include faster processing of determination orders, the reduction in period for appeal to Tribunals, and the use of one person Tribunals.  Tenants and landlords alike will therefore see a number of improvements as a result of these legislative changes.

Any tenant who believes that their legal rights are being compromised should bring their concerns to the Residential Tenancies Board which has the power to ensure their rights are upheld.  This includes cases where a tenant believes that a termination notice has not been properly served.

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