Dublin City Council Rent to Buy Scheme

Dublin City Council Rent to Buy Scheme

Dublin City Council Rent to Buy SchemeDublin City Council is the first in the country to launch a rent-to-buy scheme in of 91 apartments in Rialto, Glasnevin and Finglas; if the pilot scheme proves successful it could be rolled out by all local authorities across the country next year.

Since the slow down in the Irish Boom Tiger, Local Authority affordable housing did not manage to escape the drop in property prices and many councils are now left with a plethora of empty properties on their books. Fine Gael housing spokesman Terence Flanagan said… “The sooner this pilot scheme is rolled out nationwide the better so that these properties can become occupied. We cannot continue to have unoccupied properties, like the 91 properties Dublin City Council which have lay empty for years, while the demand is so high for the need for housing”.

Currently in Dublin there are around 115 houses on the City Council’s affordable housing portfolio, which as we said before 91 will become part of the rent-to-buy scheme; these include; in Prospect Hill in Finglas, Herberton in Rialto and Park View in Poppintree.

So the T & C’s: Who eligible and how to apply?
Will for this scheme priority will go to those already on the council’s affordable housing list, a list that already has 3,000 applicants on it!

For the DCC schemes there T+ C’s look something like this;

  • A single person earning at least €25,000 but no more than €55,000 a year qualifies – For a couple, you can earn between €25,000 and €75,000
  • You rent at an agreed monthly rent of up to 20% less than the market rate of that area (not only that but the property comes fully-furnished)
  • The usual deposit of two months rent is payable on signing the letting agreement
  • The purchase price of the property is agreed before you move in. There are pros and cons to this i.e. if house prices rise you will not be affected – however the what if house prices continue to fall? You still have to pay the agreed price if you decide to purchase.
  • One of the benefits of the Rent to Buy scheme is that you have three years to decide if they want to buy the property – and if you don’t, you can back out, no strings attached.
  • If you do decide to buy the property, 80% of the rent you paid over the 3 years (or shorter term) to the local authority is offset against the purchase price
  • The furnishings are included in the price

Not a bad deal!

There are 17 comments for this article
  1. Richard hunt at 5:07 pm

    Are there any property’s that you have listed available for rent to buy

  2. Badeth Acar at 7:45 pm

    I put my name down to the council house 2006 and my name was taken off 2016, I am very upset and disappointed, I wish to apply for these scheme. I have 3 children and myself and my husband now are both full time job. I hope this scheme still available. Hoping to hear any feedback regarding this very affordable housing,
    Thank you

  3. Sandra at 5:02 pm

    I am interested in the rent to buy scheme. I am not an Irish citizen, but my son will be studying at a university in Ireland and we will like to acquire a property in Dublin. Would I qualify for this opportunity

  4. laura at 7:20 pm

    Dose anybody know if this is still available or is this a very old article

  5. ROGER DE LOS REYES at 9:42 pm

    Hi. I am so interested with this scheme. How can i apply this rent to own house?can you help me with this? pls.
    Thanks

  6. Andrei at 11:10 am

    Hi is the scheme still available???

  7. Doroteo sabutanan at 2:41 pm

    Hi i would like to apply for rent to buy

  8. aga Sierpinska at 12:37 am

    Hi
    Is this scheme still available?

  9. regina at 10:44 pm

    Hi i would interested , would like more information please .

  10. Kerrie at 3:52 pm

    Is this scheme still available?

  11. mona at 1:54 pm

    I would like more information about the scheme rent to by . Can I talk to somebody about it. If I can have a phone number or more suggestion. Thank.s

  12. tamara samkana at 1:14 pm

    I have two kids. I work in Dublin south and I am awaiting for same scheme to be adopted by Dun Laoghaire Council. I agree with Derek and David that Dublin city offer is not suitable for applicants with kids as location is unattractive. Hope the offer will be soon extended through other councils as well.

  13. Louise Hanlon at 10:42 pm

    Me & My Husband had a mortgage in the past but because of recession had to sell house to pay off mortgage === can we apply for this scheme

  14. Derek H at 9:35 am

    I agree with david doyle, me and my girlfriend have a daughter and we are rent, we find it hard to save money for a deposit, this is a great idea, but as david said its not the environment for a young family, the apartments are beautiful but would be much better suited to a couple with no kids

  15. David Doyle at 10:21 am

    Me & my wife are interested but with 2 kids apartments are not what I’m looking for as I live in an apartment now I don’t feel it is a save environment for a young family at all.

  16. jason baker at 6:24 pm

    hi myself and wife are interested in this scheme,were both working .if like ourselfs ur not on the affordable housing list are we wasting our time applying

Leave a Reply