In an effort to tackle the housing crisis, the Government has launched the Repair and Leasing Scheme (RLS) to help property owners prepare their vacant homes for the rental market.
The RLS has been developed under Rebuilding Ireland to assist property owners in bringing vacant properties back into use. The RLS will pay for the repairs up front in return for the property being leased to a local authority or approved housing body (AHB) to be used as social housing for a period of at least 10 years.
Under the scheme, the cost of the repairs will be repaid by the owner by offsetting it against the rent due to the owner for the property over the period of the lease agreement.
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The ideal properties targeted under the RLS will require a low level of investment to bring them to the required standard for renting. There are a number of requirements in relation to the scheme, including:
The property must be vacant for at least 12 months before entering the scheme.
There must be a social housing demand for the property in the area.
The property must be assessed as being viable to provide social housing.
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In an effort to tackle the housing crisis, the Government has launched the Repair and Leasing Scheme (RLS) to help property owners prepare their vacant homes for the rental market.
The RLS has been developed under Rebuilding Ireland to assist property owners in bringing vacant properties back into use. The RLS will pay for the repairs up front in return for the property being leased to a local authority or approved housing body (AHB) to be used as social housing for a period of at least 10 years.
Under the scheme, the cost of the repairs will be repaid by the owner by offsetting it against the rent due to the owner for the property over the period of the lease agreement.
The ideal properties targeted under the RLS will require a low level of investment to bring them to the required standard for renting. There are a number of requirements in relation to the scheme, including:
The property must be vacant for at least 12 months before entering the scheme.
There must be a social housing demand for the property in the area.
The property must be assessed as being viable to provide social housing.
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