The Local Authority and Approved Housing bodies are interested in purchasing and leasing vacant properties and sites in Limerick city and county with a view to achieving social housing targets set out under Housing for All.
- Selling Your Property
- Buy and Renew Scheme
- Repair and Leasing Scheme
- Repair and Leasing Scheme Pilot - Expansion of scheme for vacant commercial properties
Selling Your Property
Limerick City and County Council's Acquisition Programme is currently under review - where you submit details of the property for sale it may be considered appropriate for an Approved Housing Body to purchase the house - where this is the case we will make contact with you to outline next steps.
Limerick City and County Council will purchase one-bed units throughout Limerick city and county - subject to the normal terms and conditions. While we may not be in a position to purchase larger units please consider leasing your property to Limerick City and County Council. We will only consider properties that are currently vacant (property must be vacant before same is offered for sale or lease.
A property will be considered if it is currently vacant/owner occupied and demand can be established. The objective of the Acquisition Programme is to provide homes for the people of Limerick in sustainable communities with a good balance of mixed income and mixed tenure households.
Note: If you are an owner occupier, it will be necessary to provide details of where you propose to live as the Council cannot consider the acquisition of a property if it will render the owner homeless/ in need of social housing.
Buy & Renew Scheme
Limerick City and County Council are operating a Buy and Renew Scheme to focus on older stock in urban areas with a view to tackling dereliction and improving streetscapes. Please contact us if you know or have an interest in Limerick City and County Council looking at a vacant property.
Repair & Leasing Scheme
The Repair and Leasing Scheme 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.
Under the Repair and Leasing Scheme, the local authority or an Approved Housing Body (AHB), will provide interest free funding of up to €80,000 (including VAT) per individual home delivered, to bring the property up to rental standard. In return, the homes are leased to the local authority or an AHB for between 5 and 25 years. The loan is repaid via a deduction in the monthly rent over an agreed term within the lease.
What is RLS and what funding is available?
- RLS provides social housing through the renovation of vacant privately owned properties.
- Limerick City and County Council or an approved housing body (AHB), provides a loan to carry out works on vacant properties to bring them up to rental standards.
- The renovated home is leased to the Limerick City and County 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.
Housing (Standards For Rented Houses) Regulations 2019.
Benefits to Property Owner
- Long-term lease option (5 to 25 years) or Rental Availability Agreement (5 to 10 years typically).
- Limerick City and 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).
What properties qualify?
- Properties must be vacant for at least 12 months; and
- Limerick City and County Council must decide that the units are required and suitable for social housing.
Where can I apply?
If you are interested in applying to this scheme, click here to complete the Leasing Expression of Interest Form or wish to discuss, please contact us by:
Phone: 061-557028
Email: housingeoi@limerick.ie
Further information on the Repair & Leasing Scheme is available here.
Further information on the Living Cities Initiative is available here.
Information on the tax treatment of RLS is available on the website of the Revenue Commissioners.
Repair and Leasing Scheme Pathway.
Repair & Leasing Scheme Pilot - Expansion of scheme for vacant commercial properties
A limited expansion of the Repair and Leasing Scheme (RLS) under which the criteria that a property owner must be unable to fund repairs is removed for certain categories of property has been announced.
The expansion to the Repair and Leasing scheme (RLS) which removes the requirement that a property owner must be unable to fund or access funding to bring vacant properties into compliance with the Housing (Standards for Rented Houses) Regulations 2019.
This modification applies to certain categories of vacant properties only.
- Vacant commercial properties
- Vacant units associated with a commercial property (e.g. over a shop)
- Vacant former institutional buildings
- Unfinished developments where these have been vacant for a significant period of time
This expansion is on a pilot basis. Approval must be granted by the local authority or Department of Housing, Local Government and Heritage, where appropriate, on or before July 2024.
Criteria
The local authority must be satisfied that all proposed units meet existing social housing need;
- The property must be vacant for more than one year
- For commercial units, applications must have been made to the local authority for commercial rate deductions under Section 31A of the Local Government Reform Act 2014 or
- The criteria required for such an application must be met, i.e. that the property is unoccupied for the purpose of the execution of additions, alterations or repairs thereto or because the owner is bona fide unable to obtain a suitable tenant or
- The property must be made available for social housing for 5 - 25 years and the final units must comply with S.I. No. 137/2019 - Housing (Standards For Rented Houses) Regulations 2019 and any amending legislation
- A payment amount as close to 70% of market rent will be payable for each unit delivered
- All parties engaged to carry out the works, either directly by local authorities, approved housing bodies (AHBs) or by property owners, must be tax compliant
- Works are required to bring units up to minimum rental standards
- RLS does not apply to new build units (with the exception of unfinished developments where the properties have been vacant for a significant period of time)
Upfront Funding
The property owner may apply for up to a maximum of €80,000 (including VAT) per unit, if required. In such cases, the full funding advanced must be recouped via an offset in the leased payment. Where a property owner is bringing more than one dwelling in a single development into the scheme or where one large premises is being subdivided so as to provide multiple units, the funds available i.e. €80,000 (including VAT) per dwelling, may be apportioned between a number of dwellings once total funding for all dwellings does not exceed €80,000 per dwelling. This must be subject to a minimum spend on each dwelling, which may be determined by the local authority taking the overall level of funding into account. Where there is no upfront funding, no offset is required.
Common Areas
In multi-unit developments, the upfront funding may be used for the repair of common areas that are required for the property to meet rental standards, e.g. stairs, hallways etc. Funding for essential common areas must fall within the total allocation of €80,000 per unit; no additional funding is available. In some larger developments, communal areas such as community centres may be provided. These are outside the terms of the scheme and no upfront funding or lease payment is available for such units under RLS.
Planning Requirements
The Planning and Development Act (Exempted Development) Regulations 2022 exempt certain classes of vacant units from the requirement for change of use planning permission where these are being brought back into use as residential units. The local authority to ensure that any proposal is in compliance with planning requirements, including whether the above exemption applies.
Contact
Amanda Glasper
Phone: +353 61 557028
housingeoi@limerick.ie
Click here to download more information about selling or leasing your property.