Housing Together (“HT”) is an organization specialising in the leasing of residential properties to Local Authorities.

  • Prior to our licenced auctioneer bidding on a property, HT will engage with the Local Authority to ascertain their social housing leasing needs by property type and location.
  • The Local Authority refer the property to their in-house inspectors to indicate their interest in leasing and confirm the rental income available.
  • As soon as the property is sale agreed a firm of independent surveyors are instructed to inspect the property and ensure that the property complies fully with Housing (Standards for Rented Houses) Regulation 2017 which is a minimum pre-lease requirement.
  • The surveyor will cost any works required to comply with the regulations and these costs will be included in our furnishing and refurbishment costs.

Housing Together will manage and coordinate the submission of the following requirements to the Local Authority as part of the lease approval process:

  • Proof of ownership of the property.
  • Confirmation of date from which the property is available for leasing (with all the required works complete).
  • Current Tax Clearance Access No. (TCAN No.) in the same name as the person(s) whose Bank Account details are provided.
  • Completed EFT form for setting up the payment of the monthly rent.
  • Future postal and email address of the owner for correspondence purposes.
  • BER Certificate and Advisory Report to Local Authority requirement.
  • Copy of current certificate of buildings/structural Insurance on the property commensurate with the requirements of a rental/leased property.
  • Details of the Solicitor acting on your behalf, e.g. Name, Address, Tel. No., Email Address, etc.
  • Copy of Annual Service Charge Receipt (where applicable)
  • Confirmation that all utilities, Local Property Tax (LPT) and other household charges are paid up to date.
  • Copy of the House Rules (where a Management Company is in existence)
  • Payment of a refundable deposit of €6,400 (which includes the cost of surveyors) to the Housing Together client account.

HT will provide the following services to the Client:

  • Liaise with Local Authority to identify social housing pressure zones and property types required
  • Bid and sale agree on properties
  • Complete property application for long-term lease to Local Authority
  • Arrange Surveys & Valuations
  • Facilitate all Local Authority Inspections.
  • Negotiate & Secure Letter of Intention to Lease from Local Authority
  • Furnish & Snag Properties in accordance with the schedule of furnishings & appliances as required by Local Authority
  • Ensure property is compliant with the requirements of the Housing (Standards for Rented Houses) Regulations.
  • Arrange Electrical & Gas Appliance Certificate
  • Complete lease with Local Authority for for a term of up to 25 years at a rental rate of 80%- 85% of current market rent.

The property will be leased by the Local Authority, underwritten by the Department of the Environment.

The lease can be for a period of 10, 20 or 25 years depending on your preference.

The Local Authority will pay 80% of the open-market rent. However in the case of properties where a management fee is payable, the Local Authority will pay 85% of the open-market rent.

The Local Authority Valuation Department will calculate the rents based on Current Open Market Rents

Yes the lease makes provision for rent reviews throughout the term of lease. The rent is reviewed every 3 years linked to the Harmonised Index of Consumer Prices (HICP) Ireland.

No, under the terms of the long term lease the rent reviews are not subject to the RPZ maximum of 4% per annum which is a significant advantage in comparison to a regular residential property investment.

The rent is paid in advance monthly/quarterly by electronic transfer directly from the Local Authority into the landlord’s pension trust or bank account. Please note that, if the landlord is resident outside or Ireland, the rental income is subject to withholding tax.

Yes. There will be no voids for the duration of the lease.

Yes. The cost of furnishings is included in the total acquisition costs and a detailed list of the furnishings required is available on request.

The Local Authority takes responsibility to manage the tenancy and to manage and maintain the property including annual boiler maintenance.

The owner of the property will retain responsibility for structural maintenance, structural insurance and structural repair.

The person allocated the property by the Local Authority in the case of houses and the Management Company in the case of apartments.

The management fees are the responsibility of the owner however the Local Authority will pay a higher net rent for apartments or Houses where a
management fee is charged. The current rate is 85% of the open market rent.

The Local Authority will have the responsibility for dealing with anti-social behaviour.

Yes. Under the Long-Term Leasing arrangement, the property can be sold by the property owner during the term but only on the condition that the leaseagreement is transferred to the new owner and the Local Authority is notified in advance and is in agreement.

The owner can agree to include an option in the lease for the Local Authority to have “right of first refusal” to purchase the property should he /she decide to sell.

The property will be returned in the same condition as when the contract commenced subject to normal wear and tear.

It is the owner’s responsibility to insure the structure of the property. For cases where there is a management company involved the insurance for the dwelling will be covered under the Block Insurance policy.

Up to 3 months after the completion of the purchase.

The following are the Acquisition Costs:

  • Housing Together Fee plus VAT
  • Furnishing and Refurbishment
  • Stamp duty 1% of purchase price
  • Legal fee 0.95% plus VAT
  • Legal disbursements (searches etc) €1,000
  • Surveyors fee €450
  • Electrical survey and ECTI certificate €350
  • Gas Survey €250
  • Fire Engineer’s survey fee €350

Note: Please note the above costs have been included in the net initial yield calculation.

Up to a maximum of 10 weeks to exchange contracts and 2 weeks thereafter to complete.

FOR MORE INFORMATION PLEASE