IPAV calls for postponement of deposit protection scheme

IPAV, the Institute of Professional Auctioneers & Valuers, is calling for a halt to the introduction of the deposit protection scheme under the aegis of the Private Residential Tenancies Board (PRTB) until such time as further study of the concept  is undertaken.

Speaking at a special seminar attended by several hundred auctioneers and property professionals at the Ashling Hotel, Dublin on Monday night (15th) on the amendments to the Residential Tenancies Act 2004-2015, Pat Davitt, IPAV Chief Executive, called for a postponement of plans for the scheme by the new Government.

“We are not at all sure that the scheme as originally envisaged will work effectively now, there has been much change in the rental market since a report by Indecon Consultants for the Department of Environment in 2012.

“How does a tenant who is moving to another property ensure that the deposit is passed on in respect of the new tenancy?  In the case of a dispute between the landlord and tenant what is the process for resolving the issue?”

He said a great deal more work needs to go into analysing the workings of such a system which of its nature would need to be able to respond rapidly to the demands of the market place.

“There is every possibility that we could end up in a situation where neither tenant nor landlord is satisfied and both could find themselves in limbo for a considerable period.

“We are suggesting that the new Minister would review and reconsider existing plans and hold off on signing the Commencement order until further discussions take place with stakeholders.”