Online returns - commercial leases database
The Conveyancing Committee would remind practitioners of its practice note published in the October 2012 Gazette recommending that they should advise clients who are tenants in commercial leases of their statutory obligation (under section 88 of the Property Services (Regulation) Act 2011) to submit certain details of those leases to the Property Services Regulatory Authority (PRSA) at three separate times in the life of the lease for inclusion in their statutory commercial leases database.
The committee was recently advised by the PSRA that the above commercial lease returns are now only conducted online through , and clients can be advised that all the specified forms are now online.
The committee鈥檚 recommendation that solicitors should not routinely accept authorisations to make these submissions on behalf of clients remains unchanged. Solicitors should advise their clients of their obligations under the act and the time limits that apply for submission of information to the PRSA.