Cost Rental FAQ’s

  • What is Cost Rental?

    This new housing tenure offers a long-term, secure rental option that will contribute to the development of a healthy housing market in Ireland. The rent is based on the cost of building, managing, and maintaining the homes which means it is an affordable housing option.

    For more information on Cost Rental please visit:
    https://www.irishstatutebook.ie/eli/2021/si/425/made/en/print

  • How much is the rent?

    All cost rental rents are set at a minimum level of 25% below the market rents in the area where the scheme is located.

  • How much is the deposit?

    The deposit is one month’s rent less €50

  • Are the houses furnished?

    The Cost Rental property have laminate flooring, tiling in bathrooms and kitchen areas, sanitary ware, kitchen cupboards, wardrobes, blinds and white goods  (fridge/freezer, dishwasher, oven & hob, microwave, washer/dryer) – you will however be required to furnish the property yourself.

  • How long is the tenancy?

    Answer – After 6 consecutive months in occupation under the tenancy and without a valid notice of termination being served your tenancy will be become a tenancy of unlimited duration. This is provided there are no issues with breach of your tenancy obligations or rent arrears.

    These properties are a long-term rental option that offer security of tenure.

  • Will I be able to purchase the property?

    No. These properties will not be available to purchase.

  • What is net household income?

    Net household income is calculated by adding together the net income for each household member aged 18 years and over. Net income means that income tax, universal social charge, pension related deductions and PRSI are deducted from the relevant gross assessable income.

  • How do I know if I can afford the rent?

    We will carry out an affordability test to ensure your rent charge is not more than 35% of your net household income. In the event that it is higher, we will give you the option to evidence, that based on your current income you have paid the same rent or higher, for the preceding two years without defaulting.

  • How do I apply?

    You can apply on the website and following the ‘register here’ tab . This is the only method to apply, applications cannot be made by post or over the phone. Or see a direct application link here.

  • Can I apply multiple times?

    No, one application per household only is permitted. Anyone applying multiple times will be disqualified from the lottery.

  • What size property can I apply for?
    • Answer – If successful, applicants will be assigned a unit based on the below allocation criteria;One-bed unit – suitable for a single person, or cohabiting couple.

      Two-bed unit – suitable for two adults or cohabiting couple/lone parent with 1 or 2 children under the age of 10 years or with 2 children over the age of 10 years of the same sex.

      Three-bed unit – suitable for three adults, a cohabiting couple/lone parent with 3 or 4 children over the age of 10 of the same sex, a cohabiting couple/lone parent with 2 children over the age of 10 years of the opposite sex, or a cohabiting couple/lone parent with 3 or 4 children under the age of 10 of the opposite sex.

      Four-bed unit – suitable for four adults, a cohabiting couple/lone parent with 5 or 6 children over the age of 10 of the same sex, a cohabiting couple/lone parent with 3 children over the age of 10 years, or a cohabiting couple/lone parent with 5 or 6 children under the age of 10 of the opposite sex.

  • How will the cost rental homes be allocated?

    We want to make sure that cost rental homes are allocated in the fairest and most transparent way possible. This will involve a lottery system via our website. Every application for each unit type will be entered into a lottery for random selection. If your name is chosen from the lottery, we will make contact with you to submit your documents so that we can verify you are eligible for a cost rental unit. If you qualify, we will then arrange an interview and viewing of the property.

  • How does the lottery work?

    The lottery will be run once the advertising of the properties has ceased. This is operated by an external agency with full audit trail for transparency. The lottery will create at random; a list of all applicants and we will approach applicants from the top of the list.

  • What documents do I need?

    If your name is chosen from the lottery, the following documents will need to be submitted;

    1. Proof of ID for each household member
    2. Proof of Address
    3. Proof of Residency
    4. Proof of Income for all members of the household over 18
    5. Employer Reference
    6. Landlord Reference
    7. Bank Statements

    Please have these documents ready when you register your interest. If your application is successful, you will have 48 hours to upload your documents and complete the application process

  • What is acceptable proof for each document?
    1. Proof of ID (Current Valid Signed Passport/Current Valid Passport Card/Current Valid Travel Document/Current Valid EU/EEA Driving Licence– must contain photograph (Irish Provisional accepted)/Current EU National Identity Card)

      Proof of address (Utility Bill e.g. telephone, mobile, gas, electricity, heating, oil, waste collection (where a utility bill is a first bill, a second form of address verification is required)/Correspondence from a Regulated Financial Institution operating in the Republic of Ireland (Insurance / Assurance Co., Bank, Building Society, Credit Union, Credit Card Company)/Correspondence from a Government Department / Body)

      Proof of Residency in the Republic Of Ireland. Documents that are eligible as proof of residence are as follows

      Employment Details Summary (P60)

      Statement of Payments/Benefits from Dept. of Social Protection

      Tenancy agreement if you are renting

      Bank statements for at least 3 months showing day-to-day transactions or Direct Debits for utility bills

      An employment letter from your current employer, which includes your name, address and date you commenced work

      Proof of income

      If employed: Employment Details Summary (P60) and/or last three months payslips

      End of Year Statement (P21)

      If self-employed– a minimum of 1 year’s accounts, along with an up-to-date tax balancing statement and preliminary tax receipt.

      Social Welfare Income – documentary evidence of all social insurance and social assistance payments, allowances and pensions being received by members of the household. As income of household members over 18 is also included in the assessment for qualification, evidence of payments to these household members is also needed.

      Employer Reference, dated within the previous 6 weeks

      Landlord Reference, dated within the previous 6 weeks

      Bank Statements for the previous 6 months

  • When will I know if I am successful or not?

    If your name is chosen from the lottery, you will hear from us within five working days after the closing date.

  • Will you contact me if I am unsuccessful?

    Yes, we will notify all applicants whether they are successful or not.

  • How long does it take before being notified of being successful or unsuccessful in qualifying for a CREL homes?

    If your name is chosen from the lottery system, you will hear from us within five working days after the closing date. If you are unsuccessful, you will be contacted within 10 working days after the closing date.

  • Can I add my name to a cost rental waiting list?

    No – We will not be holding a waiting list for cost rental housing. You will be able to apply again when schemes are advertised.

  • Can I transfer from a social home into a cost rental home?

    No. You cannot transfer or apply for a cost rental tenancy if you receive social housing supports.,

  • Do you have to live in the local area to apply for cost rental property?

    You can apply for a cost rental property if the live anywhere in Ireland, you do not have to live local to where the cost rental property is, however you must be a permanent resident of Ireland and provide proof of residency.

  • What happens if my circumstances change after I’ve been allocated a property?

    Answer – Applications are assessed at point of entry. If for example, after you’ve been allocated a property your household income increased above €53,000, you would still be entitled to continue renting the property.