Richard Bruton (Dublin Bay North, Fine Gael)
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629. To ask the Tánaiste and Minister for Justice and Equality if she is satisfied that companies that have acquired a number of leases for onward rental should be treated as letting agents in order to require them to have a protection fund and to be supervised by the PSRA. [3748/21]

Helen McEntee (Meath East, Fine Gael)
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The provision of property services to consumers in Ireland is subject to a detailed legislative framework of licensing, regulation, monitoring and enforcement, under the Property Services Regulation Act 2011 (afterwards ‘the Act’). The Act also established the Property Services Regulatory Authority (PSRA), a statutory regulatory body specifically tasked with responsibility for licensing and regulating property services providers (auctioneers, estate agents, letting agents and property management agents).

Under the Act, any business or individual who provides a property service (other than those who are subject to a similar licence or authentication scheme in another EU Member State) must hold a valid licence from the PSRA. A property service is defined as the provision, for consideration, in the State, in respect of property within or outside the State, of any of the following: the auction of property other than land; the purchase or sale, by whatever means, of land; the letting of land; or property management services.

The licensing of property services providers ensures that licensees comply with certain standards aimed at ensuring protection for their clients. For example, licensees must possess specified minimum qualifications, have available to them professional indemnity insurance and pay an annual contribution to the Property Services Compensation Fund. The Compensation Fund is funded by annual contributions from licensees, and maintained and administered by the PSRA. A person who has suffered financial loss as a result of dishonesty on the part of a licensee, or any principal officer, employee or agent or former principal officer, employee or agent of a licensee arising from the provision of property services on behalf of the licensee, is entitled to apply to the PSRA for a grant from the Compensation Fund to compensate him/her for the loss sustained as a result of the dishonesty.

The PSRA is empowered to investigate complaints of improper conduct made against licensed property services providers, and to launch investigations on its own initiative for the purpose of ensuring compliance by property services providers with their statutory obligations. Where a finding of improper conduct is made by the PSRA, it can impose a range of sanctions.

The relationship of landlord and tenant is governed by separate legislation including, in the case of residential property, the Residential Tenancies Act 2004 (as amended). This Act imposes obligations on both landlords and tenants, including in respect of the refund of deposits. Disputes arising between landlords and tenants are generally a matter for adjudication by the Residential Tenancies Board. My colleague, the Minister for Housing, Planning and Local Government is responsible for the Residential Tenancies Act.