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Leasing

Standard long-term leasing

Standard leasing arrangements were first introduced in 2009 and are now delivered under the Social Housing Current Expenditure Programme (SHCEP). The scheme allows local authorities and 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, the local authority will:

  1. be the landlord to tenants;
  2. 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, and;
  3. pay up 85% of the open market rent throughout the term.

The property owner will:

  1. satisfy the local authority they have good and marketable title to the property;
  2. provide a home that is adequately furnished and in compliance with the Housing (Standards for Rented Houses) Regulations 2017, and;
  3. 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. 

The template leases issued by the Department of Housing Planning and Local Government, Circular 39/2018, are available here:

  1. Agreement for lease
  2. Standard long-term leasing (no management fee)
  3. Standard long-term lease (management fee)

Queries about Standard Long-Term Leasing can be sent to: leasing@housingagency.ie

 

Enhanced leasing

Enhanced leasing was introduced in 2018 under Pillar 2 of Rebuilding Ireland: Action Plan for Housing and Homelessness. The Department of Housing, Planning and Local Government has launched the Enhanced Leasing scheme to:

  1. target newly built or yet to be built houses and apartments for leasing;
  2. provide for long term leases that require the property owner to provide day-to day-maintenance of the homes under a schedule of Management Services.

The term of the lease is 25 years and each proposal must include a minimum of 20 homes (properties can be located across multiple sites). In contrast to standard leasing agreements (above), it is the owner, not the local authority, who is required 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 Enhance Leasing reflects the additional requirements to be performed by the property owner under the agreement.

The Housing Agency is the national co-ordinator of the Enhanced Leasing scheme, and manages it on behalf of the Department of Housing Planning and Local Government.

For more information about Enhanced Leasing please see:

Call for Proposals.pdf

Appendices 1 to 5.docx (word doc will download)

Queries about Enhanced Leasing can be sent to: enhancedleasing@housingagency.ie