Louise Morton of Wexford Rentals & Property Management states that Landlords are to be offered a series of sweeteners in return for offering discounted rents to their tenants. A proposal put forward by Environment Minister Alan Kelly should see incentives offered to Landlords who reduce their rents by 30 % on Market Values. These incentives are to attract some Rent Certainty into the marketplace.
The affordable rental scheme is designed to benefit low and middle-income earners in urban areas who do not qualify for social housing. These households, Mr Kelly says, are struggling to meet their accommodation needs in the private rented sector.
In return for offering rents of 70-80pc of the market rate, a series of concessions will be offered, including:
- a low-interest loan;
- a grant;
- provision of land;
- a loan guarantee on private borrowing.