Eligibility Criteria - Rightsizing Scheme

• Eligibility Requirements
• Conditions of Scheme
• Conditions of Tenancy
• Sale of Property by Successful Applicants - Terms
• Financial Contribution paid by the Applicant to Limerick City and County Council

Eligibility Requirements

1. All individual applicants, including all joint applicants, must each be over the age of 55 to qualify.
2. Applicants must be living alone. Applicants with dependents living at home will not be deemed eligible.
3. Applicants must be currently living in a house of a size too great to meet their housing needs and must be capable of independent living.
4. Applicants are to be aware that there will be a financial contribution to become a tenant of Limerick City and County Council/Approved Housing Body. This financial contribution is outlined in the next section and is deducted from the sales proceeds of the house you live in.

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Conditions of Scheme

Subject to the eligibility requirements being satisfied, Limerick City and County Council will consider applications for letting under the Rightsizing Scheme with the following conditions:

1. The property must be located in Limerick City and County Council’s administrative area.
2. Successful applicants must sell their property on the open market and provide proof of same.
3. Limerick City and County Council shall only consider applications for homeowners who are eligible for Older Persons’ accommodation (i.e., over 55 years).
4. Homeowners who are housed must pay a housing rent in line with the Differential Rent Scheme.
5. The Financial Contribution (contribution to become a tenant) Limerick City and County Council will apply is:

              55-80+ (one flat band contribution regardless of age) - 1/4 of net proceeds of sale of dwelling

6. Candidates will be subject to Garda vetting checks.

Limerick City and County Council reserves the right to grant or not to grant a letting of a dwelling under the Rightsizing Scheme.

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Conditions of Tenancy

The decision to grant a tenancy of a dwelling under the Rightsizing Scheme shall be subject to the following conditions:

• The sale by the applicant of his/her/their existing dwelling on the open market subject to the applicant’s title being to the satisfaction of the Council
• The payment of a financial contribution to the Council
• The execution of a Tenancy Agreement
• The payment of weekly rent set under the Differential Rent Scheme
• Agreement by the Applicant to waive their statutory entitlement (if any) to purchase the tenanted dwelling

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Sale of Property by Successful Applicants - Terms

Successful applicants should note that the following terms apply to the calculation of the financial contribution:

• Net proceeds of sale shall exclude:

1. The discharge of any existing mortgage or charge on the applicant's property
2. The discharge of any legal fees incurred by the applicants in relation to the sale of the applicant's property and the discharge of any existing mortgage or charge thereon, up to a certain maximum limit. Please note, this excludes auctioneer’s fees.
3. Any and all other legal fees incurred in relation to the completion of the application and the tenancy agreement

• Applicants are advised to engage a Solicitor and obtain legal advice in respect of the  Rightsizing Scheme prior to the completion and submission of an application under the scheme

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Financial Contribution paid by the Applicant to Limerick City and County Council

The financial contribution payable by the Applicant will be calculated by Limerick City and County Council as follows:

Age/Financial Contribution

55-80+ (one flat band contribution regardless of age): 1/4 (25%) of net proceeds of sale of dwelling

NB: Applicants are advised to engage a solicitor and to obtain legal advice in respect of the Rightsizing Scheme prior to and in respect of the completion of the application form.

NB: Applicants and their Solicitors are advised to read these details carefully prior to completing the application form.

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