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Repair & Leasing Scheme

General Information on Repair & Leasing Scheme

One of the key components of the Rebuilding Ireland Action Plan for Housing and Homelessness is a new scheme called the Repair and Leasing Scheme.  This newly launched scheme targets vacant properties as a possible source of social housing and provides property owners with an income stream that may be otherwise unavailable.  The scheme provides that repair and improvement works, to bring such properties up to the standard for rented accommodation, are funded by the Local Authority.  The cost of the works is then deducted from rent/lease payments over an agreed lease term of at least 10 years.

 

There are a number of requirements in relation to the scheme:

 

  • The house must be vacant for at least one year.
  • There must be a social housing demand for the property.
  • The property has to be assessed as being viable to provide accommodation.
  • The maximum cost of repairs allowable under the scheme will be €40,000.
  • The minimum lease term is dependent on the cost of repairs with a minimum lease period of 10 years and a maximum period of 20 years.
  • The lease payments will be based on the general terms of social leasing which is set at 80% (85% for apartments) of the current market rental rates in the property location.
  • The scope and cost of the works are agreed between the owner and the Local Authority.
  • The initiative is not available for private renting.

 

 

Why lease your property to Mayo County Council?

 

  • Upgrade your property at no capital outlay from your own resources.
  • You will have a guaranteed rent.
  • You will have no loss of rent during vacant periods.
  • You will have no collection of rent from tenants.
  • You will not have to find new tenants.
  • You will have no responsibility for repair or maintenance during the leased period.
  • You will have no advertising costs.

 

For further information and details please contact:  Gerri Joyce (094 90 52004) or Mary Bergin (094 90 52009)

 

Repair and Leasing Scheme Application Form:  Repair and Leasing Scheme Application Form

Frequently Asked Questions:   Repair and Leasing Scheme Frequently Asked Questions

 

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