The following are answers to frequently asked questions concerning the proposed legislation and Property Services Regulatory Authority.
All persons established in the state (including companies, partnerships and employees) who provide the following property services in the State (regardless of where the property is located) require a licence from the Authority before providing such services:
- Auction of private property other than land
- Purchase or sale, by whatever means, of land
- Letting of land
- Property management services.
There are a number of exemptions e.g. short term letting for bona fide tourism or leisure purposes (8 weeks or less), auction of State property or a charity auction. The full list of exemptions can be found in Section 3(1) of the Act or click here.
All new licence and renewal applications must be completed and paid online through www.psralicences.ie. The Authority is no longer accepting paper applications for first time or renewal applications.
Details of how to make an application are available in the “Guide to Becoming a Licensed Property Services Provider”. Please see Guide to becoming a PSP for more information.
The cost of the licence fee is €1,380 for a Company, Partnership or Sole Trader/Independent Contractor. The licence fee for Principal Officers or Employees is €200.
In order for a licence to be issued, the Property Services Provider (PSP) will also be required to make a contribution to the Property Services Compensation Fund. The contribution to the Compensation Fund is €200 for a Company, Partnership or Sole Trader/Independent Contractor and €50 for Principal Officers or Employees. For first time applicants the contribution will be requested at the end of the application process.
Every Licence Application must be completed and paid online through www.psralicences.ie and must include:-
In the case of Companies, Partnerships and Sole Traders:
- A completed and signed Application Form (New Business Licence Application Form)
- Evidence of the qualification(s) of the Principal Officer(s) being relied upon for the purpose of the application
- Evidence that the required level of Professional Indemnity Insurance which covers both the employer and employees is or will be available to the applicant
- Accountant’s Report
- Tax Clearance Details
- Certificate of Incorporation (Body Corporate only)
- Certificate of Business Name Registration (where applicable)
- Licence Fee – €1,210
- Applicant’s Photograph only applicable to Sole Trader application.
In the case of Principal Officers and Employees:
- A completed and signed Application Form (New Individual Licence Application Form)
- Evidence of the qualification(s) of the applicant
- Licence Fee – €125
- Declaration on the application form that the applicant is, or will be, covered by the employer’s Professional Indemnity Insurance
- Applicant’s Photograph.
An applicant may qualify for a licence by way of academic qualification and/or evidence of experience. Where the applicant does not meet the minimum qualification requirement with regard to academic qualification or experience on their own, the Authority will consider all evidence submitted together and may issue a licence in certain cases.
Where the applicant is relying on academic qualifications to support their application for a licence, each applicant [Company, Partnership, Sole Trader/Independent Contractor, Individual (Principal Officer/Director, Partner or Employee)] must supply documentary evidence of an academic qualification which meets the Authority’s minimum requirement for European Credit Transfer and Accumulation System (ECTS) credits as set out in the “Guide to Becoming a Licensed Property Services Provider” and in the Qualifications Regulations – S.I. 456 of 2015. A full list of academic qualifications which the Authority has recognised as meeting the requirements set out in S.I. 456 of 2015 are listed at Chapter 4 of the “Guide”.
In the case of an application by a Company or Partnership, the academic qualifications of a Principal Officer or Partner would suffice as the qualifications requirement for the firm.
If the applicant is relying on prior experience in the provision of property services in support of their application for a licence they [Company, Partnership, Sole Trader/Independent Contractor), must supply documentary evidence which shows they have been lawfully engaged in the provision of property services for three of the last five years. Copies of licences from the Revenue Commissioners, which issued prior to 2012 can be submitted and will be considered in the assessment of the application, however, additional information may be requested by the Authority.
Employees who have not held a licence from the Revenue Commissioners must supply a letter from their Employer, which details the length of time for which they were providing property services, and details of the services they were providing, however, additional information may also be requested by the Authority.
The Authority will fully consider all evidence submitted in respect of an application and where it is not satisfied that the evidence is sufficient the applicant will be notified in writing for the reasons of this.
Full details in respect of qualifications are available in the “Guide to Becoming a Property Services Provider” and in the Qualifications Regulations – S.I. 456 of 2015.
Being a member of a representative body does not guarantee that a person will be qualified and does not influence the qualification assessment. There is no advantage in submitting your membership details to the Authority in support of your application as you will need to provide other evidence of your qualification.
Applications to add a licence category to an existing licence must be submitted through www.psralicences.ie.
The licence renewal must be made online through psralicences.ie annually and must be received by the Authority at least six weeks prior to the expiration of the licence. Click here for further information on how to renew your licence.
“PSRA/S35 – Renewal ABC” is to be completed where a “client account” is held. PSRA S35 – Accountants Report Renewal ABC (2018).
“PSRA/S35 – Renewal D” is to be completed where services charges and/or sinking fund contributions are paid into a “relevant account”. PSRA S35 – Accountants Report Renewal D (2018).
Both forms will need to be completed where a “client account” is held and client money is paid into a “relevant account”.
Continuous Professional Development (CPD) is an ongoing duty to undertake education and training for the purpose of maintaining professional competence.
This Scheme sets out the education and training minimum requirements which licensees must undertake to maintain their current professionalism in the provision of property services.
This Scheme applies to every individual who holds a licence from the Property Services Regulatory Authority (PSRA), including a partner in a partnership, who is the holder of a licence issued by the Authority in respect of the provision of property services in licence categories A, B, C or D, and/or any combination of those categories. Where the licensee is a body corporate, the licensee must take all appropriate steps to ensure that its principal officers maintain their professional competence pursuant to this Scheme.
All licensees must undertake 5 verifiable hours of formal CPD annually.
The PSRA has awarded the delivery of CPD on their behalf to IPAV and SCSI. To book your PSRA CPD please contact either organisation directly or refer to the Continuous Professional Development page and click the relevant link
In 2016 The Minister for Justice and Equality prescribed the Property Services Regulatory Authority (PSRA) as the State competent authority for property service providers for the purposes of Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.
Customer Due Diligence is a process of identifying who your customer is. The PSP must verify that the customer is who they say they are by requesting the following:
Individual
- Photo ID (Passport, Full Drivers Licence, National Identity Card, Social Welfare Card with photo, National Age card….)
- Non – Photo Verification (Revenue Commissioners Letter with PPSN, Dept. of Social Protection letter with PPSN, Utility Bill, Medical Card….).
Corporate Clients – This also covers Receivers
- Memorandum and Articles of Association
- Lists of Directors names
- Verify identity of one director and one signatory (as for individual)
- Beneficial Owners identity can be verified via clients solicitor.
Trusts
- Copy of Trust Deed
- Full name of Trust
- Nature and purpose of Trust
- County of establishment
- Names of all Trustees and name and address of any protector/settler
- Verify the identity of one Trustee and one signatory as for Individual.
Partnerships
- Obtain a copy of Partnership agreement
- Verify the identity of one Partner and one signatory as for Individual.
Marts
- Obtain the original copy of the herd number from the client. The herd number is linked to the persons/entities PPS number and has already undergone CDD under the Dept. of Agriculture.
Where a customer refuses or cannot comply with the requirements of Customer Due Diligence, the PSP must cease the provision of the property services.
Yes. The Authority has the power to investigate licensed and unlicensed property services providers and also to satisfy itself that the standards it has set are adhered to in the delivery of services by licensees. The Authority has the power to investigate businesses who do not hold a licence and who are suspected of providing a property service, which is an offence under the Act. This pro-active role is separate from any investigations that will be undertaken by the Authority in response to complaints from members of the public.
Yes. Any person can make a complaint of improper conduct in writing to the Authority against a licensee, either in relation to the provision of property services or the conduct of a licensee in the course of providing that service. We have a complaint form to help you to provide the required information. You are not required to use the complaint form available on the Authority’s website, however, it may give an indication of the information required. If the Authority is satisfied that a complaint is made in good faith and is unlikely to be resolved by the parties themselves, and, if true, would constitute improper conduct, it must appoint an Inspector to investigate the complaint. Details in relation to improper conduct can be found here.
On completion of the investigation, if the Authority is satisfied that the licensee has been guilty of improper conduct in the course of providing a property service, it may impose either a major or minor sanction on the licensee.
If unhappy with the decision of the Authority, it is open to the complainant or licensee to appeal the decision to the Property Services Appeals Board, within 30 days of receiving the decision.
The Appeals Board can be contacted at the following address:
The Secretary,
The Property Services Appeal Board,
Bishop’s Square,
Redmond’s Hill,
Dublin 2 D02 TD99.
Email: [email protected]
All queries or correspondence in relation to appeals must be directed to the Property Services Appeal Board.
No. There is no fee to lodge a complaint with the Authority.
If you have received a letter from the PSRA stating that we require a return to be filed in relation to a specific property, then you are obliged to file a return.
Also if you have recently filed a stamp duty return in relation to a Commercial Lease with the Revenue Commissioners, then you are obliged to file a Commercial Lease Return, as soon as you are in possession of the SDR ID.
The Authority does not charge a fee for filing the Commercial Lease Return. There is no charge.
The Property Services Regulatory Authority (PSRA) pursuant to section 86 of the Property Services (Regulation) Act 2011 produces the Residential Property Price Register. It includes Date of Sale, Price and Address of all residential properties purchased in Ireland since 1 January 2010, as declared to the Revenue Commissioners for stamp duty purposes.
Click here to access the Residential Property Price Register.