Jim Gavin.RollingNews.ie

In a statement issued on Sunday evening, Mr Gavin said he had ‘cause to reflect.’ It follows reports in recent days regarding his alleged failure to register a tenancy with the Residential Tenancies Board (RTB).

"When I announced my intention to contest the presidential election, I did so in a spirit of lifelong public service and a love of country. That has always been my sole motivation," he said.

"I believe deeply in this country, its dreams, its hopes and above all, its people.

"The office of Uachtarán na hÉireann is the highest in the land and the pinnacle of public service. It is an office that must be untainted by controversy or distraction.

"I always knew the campaign would be robust and challenging, and anyone who knows me knows that I have never shirked from a contest. I have always sought to act in honour and good faith.

"However, recent days have given me cause to reflect. I made a mistake that was not in keeping with my character and the standards I set myself. I am now taking steps to address the matter.

 "I have also thought long and hard about the potential impact of the ongoing campaign on the well-being of my family and friends.

"Taking all these considerations on board, I have decided to withdraw from the presidential election contest with immediate effect and return to the arms of my family.

"Throughout this campaign, I have been humbled by the encouragement and kind words I received. So many people have gone out of their way to support me in so many ways, and I would like to express my sincere thanks to them. I truly hope you understand my decision and do not feel let down."

In a message to the Fianna Fáil parliamentary party, Taoiseach Micheál Martin confirmed Mr Gavin’s decision.

"I fully understand his decision and believe it is the correct one," he said.

 "As we all know, Jim has achieved an enormous amount in his life, something which was seen by all of us who campaigned with him in recent weeks. His commitment to service and helping others has always, quite rightly, defined his character and his great standing with the public.

"Jim has accepted that he made an error in relation to an issue which has arisen in recent days. As Jim himself has said, the office of Uachtarán na hÉireann is the highest in the land and the pinnacle of public service. He has also said he does not want to bring controversy onto this office.

"This has been a very difficult decision for Jim, given his commitment to public service. I wish him well. I have no doubt that he will continue to make a significant contribution to Irish life and society."

Jim Gavin.

It was reported that a former tenant overpaid Mr Gavin €3,300 in rent that has not been returned since 2009.

According to the Irish Independent, the former Dublin football manager failed to register his Smithfield property with the RTB, as required by law since 2004. After experiencing financial difficulties, Mr Gavin and his wife, Jennifer, surrendered the home to the banks.

Speaking to the media following RTÉ’s presidential debate on The Week in Politics, Mr Gavin said he could not provide further information on the matter.

During the debate, he said: "If it happened, I’m sorry it happened. It happened 16 years ago. [It was] a very stressful time for Jennifer, myself, [and our] family. I’m still gathering data [and] information. When I have that, I’ll take comprehensive action, and I’ll share that with you [the media] as well."

When asked by the Irish Examiner how many tenants had rented the property after the 2009 dispute and when the property was surrendered to the bank, Mr Gavin said he was "still gathering data".

"It’s part of my life that I have left behind,’ he said. ‘So, I still need to do a lot of research. We lost it, we lost the flat, and we’ve moved on and just have one property now, our home for our family."

Mr Gavin also said that the law requiring tenancies to be registered with the RTB was "new" at the time and claimed that "the majority of people" did not register their properties.

When asked if he accepted that he had broken the law, Mr Gavin replied: "I didn’t register it, yeah."

* This article was originally published on Extra.ie.