Long-Term Leasing Initiative
Standard long-term leasing arrangements were first introduced in 2009 and are outlined below.
This scheme allows local authorities and approved housing bodies (AHBs) to lease suitable properties for periods of between 10 to 25 years. Standard leasing arrangements can cater for new builds or second-hand homes.
Under the arrangement, Dublin City Council will:
- Be the landlord to the tenants
- Maintain the interior of the property for the duration of the agreement. The home will be returned to the owner in good condition at the end of the lease term
- Pay up to 80-85% of the open market rent throughout the term
The property owner will:
- Satisfy the local authority that they have a good and marketable title to the property
- Provide a home that is adequately furnished and in compliance with the Housing (Standards for Rented Houses) Regulations 2017
- Retain responsibility for the structure and keep the property insured
- Rent is reviewed on the third anniversary of the commencement date of the lease by reference to the Harmonised Index of Consumer Prices (HICP) and every third year thereafter. To provide certainty to both parties to the lease, a standard agreement for lease can be used
Benefits of long-term leasing:
- Guaranteed rental income
- No management of tenants
- No rent or arrears collections
- No maintenance of the residential property after the first six months of the lease
- No requirement to register with the Residential Tenancy Board
- No advertising or administration fees
- Enhanced Leasing
Enhanced leasing was introduced in Ireland in 2018 under Pillar 2 of Rebuilding Ireland: An Action Plan for Housing and Homelessness. This scheme targets:
Newly built, or yet to be built, houses and apartments for leasing; and Provides for long term leases that require the property owner to provide day-to-day maintenance of the properties under a schedule of management services. Up to 95% of market rent is payable under the scheme. Relative to Standard Long-Term Leasing, an increase in the proportion market rent payable under Enhanced Leasing reflects the additional requirements to be performed by the property owner under the agreement.
Details of both schemes are available at:
Dwellings leased by Dublin City Council will be allocated to households on the Council’s Housing Waiting Lists.