Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

151. To ask the Minister for Finance the number of rent receivers appointed to date in 2017 in respect of buy-to-let properties for each of the State-supported banks; the number of buy-to-let properties affected by such appointments; the number of rent receivers expected to be appointed over the remainder of 2016; the detail of the operation of the rent receivers; the impact on the tenants concerned; the Government's policy on the appointment of rent receivers; and if he will make a statement on the matter. [33786/17]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The data requested by the Deputy is not retained in the Department of Finance. Officials have referred the question to the relevant banks and have received the following responses in this regard:

AIB:

“AIB has not appointed any rent receivers in 2017. The Bank appoints Fixed Asset Receivers with the purpose of selling the asset. Where the Power of Sale is not available, the Receiver will collect rent if available.

AIB has appointed Receivers to c .700 properties to date in 2017 of which c. 50% i.e. 350 are buy to let properties. The bank cannot anticipate the number of Fixed Asset Receivers that will be appointed for the remainder of 2017 as it is dependent on borrower cooperation in reaching sustainable solutions.”

PTSB:

“PTSB has appointed a Rent Receiver over 101 properties for the period 01/01/17 – 30/06/17.

It is expected that a further 100 appointments will be carried out for the remainder of 2017.

“A Rent Receiver is appointed by the bank who operates as an agent of the borrower, collects rent from the tenant(s) and directs it to the borrower’s mortgage account, together with attending to property related issues the tenant may have, in accordance with the lease agreement. It is the banks intention that the existing tenant(s) once they are paying rent, remain in the property where possible.”