Repair and Lease Scheme

Repair and Lease Scheme

The Repair and Leasing Scheme (RLS) is an opportunity to bring vacant houses or commercial properties back into use as homes for families and individuals on the social housing waiting list.  Suitable buildings are typically located in central locations or are in high profile sites that benefit from renovation. 

What is RLS and what funding is available?

  • RLS provides social housing through the renovation of vacant privately owned properties. 
  • Meath County Council or an Approved Housing Body (AHB), provides an interest free loan to carry out works on vacant properties to bring them up to rental standards.
  • The renovated home is leased to the Council or AHB to provide social housing for between 5 and 25 years. 
  • The maximum loan is €80,000, including VAT, per completed unit; 2 units max €160,000, 3 units max €240,000 etc.
  • The loan is offset against the monthly lease payment to the owner. 
  • Income – lease payments maximum 80%/85% of market rent for long-term leases or 92%/95% for RAA, less offset.

 

Benefits to Property Owner

  • Long-term lease option (5 to 25 years) or Rental Availability Agreement (5 to 10 years typically).
  • Meath County Council or the AHB is the landlord to the tenant; no day to day maintenance (long-term lease only).
  • No loss of rent during vacant periods; no advertising/letting fees. 
  • Guaranteed income for lifetime of lease.
  • Interest free loan up to €80,000 including VAT, per unit, for example, where a vacant pub is converted into 7 units, maximum funding of €560,000 is available. In the case of multi-unit developments, funding may be apportioned between units.
  • There is no limit on the number of units one property owner can provide under RLS. 
  • Tax relief under the Living Cities Initiative may apply, where appropriate (provided that all other requirements of the Initiative are met). 
  • Information on the tax treatment of RLS is available on the website of the Revenue Commissioners.

 

What properties qualify? 

  • Properties must be vacant for at least 12 months; and 
  • Meath County Council must decide that the units are required and suitable for social housing.
  • The scheme is open to the following property types; i) residential properties, ii) vacant commercial properties, iii) vacant units associated with a commercial property (e.g. over a shop); iv) former institutional buildings and v) unfinished developments where these have been vacant for a significant period of time.

 

Where can I apply?

If you are interested in applying to this scheme or wish to discuss, please contact Meath County Council’s Repair and Leasing team at 046 9097279 or email repairandleasing@meathcoco.ie or complete and return the Expression of Interest form below.

 

Steps of Repair and Leasing Scheme Pathway