Repair & Leasing Scheme - Here’s What You Need to Know …
Did you know that in 2019, 200,000 empty houses were found throughout the country. Many of these properties are in need of extensive repair & upgrade – which can often seem like an unaffordable mountain to climb but at U Value we are here to help & advise you how you can make your plan a reality within your budget!
The Irish government has offered a lucrative scheme to encourage owners to give these properties a new lease of life.
Here’s what you need to know
Repair and Leasing Scheme (RLS)
This program targets owners of houses, apartments and studios within Ireland that have been empty for at least a year.
To access to this scheme, landlords will need to contact their local authority to apply.
In exchange for funds for the repair and structural renovation of the property, local authorities require that the house would be available for social housing for at least five years, under either a direct lease or a Rental Availability Agreement (RAA) with the Local Authority.
What kind of repairs are eligible?
- This program me is targeted at homes & properties that will require low level investment to bring them to rental standard.
This may include; .
- Flooring, kitchen upgrade or refit, furniture to make the space habitable
- Low grade plumbing or heating works, energy efficiency upgrades
- Window and door upgrading works
- Aesthetic works including painting and decorating.
What are the minimum requirements?
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.
In case the property meets the scheme requirements, there are two options: either the lanlord will contact a contractor directly, or he will access a professional through the local authority.
The maximum costs of repairs allowable under the initiative for houses/apartments will be €40,000, including VAT.
We work with some of Ireland's leading contractors in this area – if you are looking for a specialist to complete your home project please visit: https://www.uvalue.ie/contact or phone: 01 861 2000.