Cost Rental
1
What is it?
This is a new tenure type based on the Vienna model which gives tenants long term secure rental agreements of up to 40 years at discounts of at least 25% on market rent.
2
Who is eligible?
Cost Rental housing is for those who are above the threshold for social housing and below €59,000 net income (after tax). This higher threshold is expected to increase shortly.
3
Where are Cost Rental units being delivered & by whom?
The Approved Housing Bodies (AHB’s), Local Authorities and the Land Development Agency are primarily delivering Cost Rental Units. Many locations are under consideration including the North Quays, however the first units are expected to be delivered at Mountneil on the Carrickpherish Road by Circle AHB and at Ballinaneeshagh by Waterford City and County council. In total 120 units are being delivered in these two schemes.
4
How are they allocated?
Applications are opened on a scheme by scheme basis and allocated based on a lottery system if oversubscribed.