Ireland's first cost-rental homes open at €600 a month less than nearby properties
Cost-rental scheme is aimed at those who are above the level to apply for social housing but can not afford to rent in the current market. File picture: Gareth Fuller/PA Wire
Ireland’s first cost-rental homes have started accepting applications from tenants, with monthly rents €600 a month lower than nearby properties.
Located on Enniskerry Road, Stepaside, in Dublin, a total of 50 two-bed apartments have been open to potential tenants.
Those who meet the eligibility criteria will be randomly selected, with the rent standing at €1,200 a month.
A look on Daft.ie shows the lowest rent in that area, excluding the cost-rental homes, is €1,800 a month for a two-bed property.
The cost-rental homes will be managed by Respond and Tuath Housing, and are being delivered for Dún Laoghaire Rathdown County Council.
Cost-rental is a process that allows the rent to be set at a level that covers the cost of design, site, building and long-term maintenance of the property.
Schemes, such as this, are aimed at those who are above the level to apply for social housing but can not afford to rent in the current market.
Those applying for this build in Stepaside must earn less than €53,000 a year. Owning your own property or being in receipt of any form of social housing support, including a HAP payment, will also make a would-be tenant ineligible for these homes.
“Cost rental is a new departure in the delivery of housing in Ireland, providing a new type of housing tenure in addition to social housing, private renting and private purchase. We look forward very much to being able to deliver other cost rental developments around the country to those who are eligible,” said Respond chief executive Declan Dunne.
Under the Housing For All plan, the Government is aiming to deliver a further 18,000 cost rental homes. Previously, applications were taken for 25 cost rental properties in Balbriggan in July, however, these were not purpose-built homes for the scheme.
