Commercial Leases Return (News Item)
Section 87 of the Property Services (Regulation) Act 2011 provides for the Property Services Regulatory Authority (PSRA) to establish and maintain “The Commercial Leases Database” which it shall make available for inspection on the payment of a fee.
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For the purpose of establishing and maintaining the database section 88 of the Act requires TENANTS under a relevant commercial lease (or such other person as the Tenant authorise in writing to act on his or her behalf) to provide the PSRA with particulars of relevant commercial leases.
The particulars to be returned to the Authority are set out in the Commercial Leases Return hereunder. A return must be made in respect of each commercial lease entered into on or after 3 April 2012.
A person who fails to comply with section 88 is guilty of an offence and liable on summary conviction to a class A fine.
For copy of form click below.