PSRA - Property Services Regulatory Authority

Submitted by Aisling Keenan on Fri, 10/30/2009 - 15:21.

We have recently received long awaited correspondance from the PSRA regarding impending licensing and regulation of our industry. We have been advsied of the Review Group's recommendation for the establishment of the PSRA to take over responsibility, from the Courts and Revenue Commissioners, for the licensing and regulation of Property Services Providers (PSP's).

The Government, in accepting the Review Group's recommendation, decided to establish the Authority on a statutory basis and the necessary legislation began its progress through the Oireachtas in May of this year. 

Pending enactment of the legislation, the Minister for justice, Equality and Law Reform set up an Implementation Group to assist and advise on practical matters relating to the establishment of the new body. The Group has identified a number of issues which it considers can be addressed in advance of the Authority being established on a statutory basis. One such issue is the identification of those PSP's who have not been subject to licensing up to now. 

The definition provided in the proposed legislation will mean that licensing will be extended to include Residential Property Management Agents as well as Auctioneers, Estate Agents ( House Agents) and Letting Agents. The Authority carried out an exercise to compile a list of those who it believes will potentially require to be licensed under the proposed legislation. 

A.K. Property Services welcomes this proposed legislation. 'We look forward to working within an industry with enforced standards and continued education and training. We see this as an opportunity,-  it sets clear standards in respect of the services that we provide, which in turn helps to build consumer confidence.'

'We believe that consumers are entitled to expect a high and consistent level of service from our profession and that we are entitled to compete on a level playing field. Regulation is the best way of ensuring delivery of these expectations.'

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