Your lease obligations

Pat Ahern of Ronan Daly Jermyn Solicitors explains PSRA form and lease rights

MINISTER for Justice Alan Shatter has sought to ensure transparency as regards rent levels for commercial properties, but it seems to have slipped under the radar that a tenant under any commercial property lease entered into on or after Apr 3, 2012, must submit a completed form to the Property Services Regulatory Authority (PSRA) setting out specified details of the terms and contents of the lease.

This information includes, in some considerable detail, the commencement date of the lease; any capital consideration to be paid by the tenant or landlord under the lease; rent review details; details of who is to be responsible for rates, insurance, service charge and repairs; the net floor area (per floor) of the property; details of rent free periods, fitting out times, fitting out allowances and capital contribution; details of any break clause; stamp certificate number.