Repair and Leasing Scheme
Repair and Leasing Scheme for Vacant Houses
A key component of the Rebuilding Ireland Action Plan for Housing and Homelessness is a new scheme, the Vacant Housing Repair and Leasing Initiative, which targets the delivery of social housing and also ensures that existing housing stock is used to the maximum degree possible.
The basis of the scheme is that repair and improvement works to suitable vacant properties are funded to bring them up to the standard for rented accommodation and the cost of the works is then deducted from lease payments over an agreed lease term.
There are a number of requirements in relation to the scheme:
- The property has to be vacant at least 12 months, prior to submission
- There has to be a social housing demand for the property
- The property has to be assessed as being viable to provide social housing
- The minimum lease term is 10 years, 15 years or 20 years depending on the cost of the upgrade works
- The lease payment is based on 80% (85% for apartments) of the current market rental rates in the property location.
- A further adjustment to the lease payment is made to off-set the cost of the upgrade work until the cost of the work has been repaid.
- The scope and cost of the works, and the recoupment of the works cost through the lease payments, will be agreed between the owner and Meath County Council
Property inspections are carried out by Meath County Council staff who will identify the works required to bring the dwelling to the required standard. The maximum costs of repairs allowable under this initiative will be €40,000.
For further details of this scheme please contact Meath County Council’s Housing Repair and Leasing team at 046-9097255 or email email@example.com or complete and return an enquiry form, available below: