From the point of view of financial institutions, the publication of leasing details will ensure that valuations, which are an integral part of credit and banking decisions for transactions, are more reliable because they are based on accurate and up-to-date information. It is also likely that the publication of this information will have a significant impact on the industry, as all parties entering into a transaction will likely be fully informed of the details of the lease of similar units. PSRA manages and publishes the Commercial Rent Registry, which contains information on all commercial leases concluded since January 1, 2010. Commercial rentals include office, retail, industry and land rental services. Almost all leases for which stamp duty is paid to Income Commissioners are commercial leases. The objective of the Commercial Lease Register is to allow transparency in the commercial rental market. It provides a valuable source of information for those who wish to enter into commercial leases to enable them to view and compare the costs of similar leases. The tenant must also notify the PSRA after a review of the lease, and if the party ceases to be a tenant of the property (due to the surrender of the lease, the assignment or after the exercise of a break clause), he must inform the PSRA. The first phase of the compilation of rent data for commercial real estate is already underway and tenants who have entered into a rental agreement since 4 April are required to provide the Locain Authority with information. However, this legal obligation to tenants still seems to be under the radar for many of those affected.
While the volume of transactions in the commercial real estate market has declined in recent years, the availability of rent and sales information would complete the picture for investors, landlords and tenants, both domestic and international. Please indicate all additional conditions (e.g. B “letter of page,” “waiver”) that are not included in the main tenancy agreement: tenants (person, company, organisation or public body) of commercial tenancy contracts are required to return to the Authority information about their lease within 30 days of receipt of the certificate of stamp by the Revenue Commissioners. The authority will give warnings to tenants in the absence of restitution in relation to the tenancy agreement.