Renew Scheme To Be Rolled Out Nationwide

A scheme that provides funding to secure and refurbish vacant properties is to be rolled out across the State, the Minister for Housing, Planning, Community & Local Government, Simon Coveney TD, has announced.

An additional €26million is being provided to fund the scheme in 2017 which brings the total amount of investment available this year to €32m.

This additional funding will mean that up to 800 vacant properties can be brought back into use as new homes for families on local authority waiting lists.

Minister Coveney, said: "The pilot has been working well in Waterford and Carlow local authorities since October with around 59 properties currently in train. Based on this level of interest in the scheme, I am confident that the initiative can deliver up to 800 homes this year.

"Property owners see the opportunity the scheme presents for them – upfront financing of the cost of repairs – in fact they need not even get involved in arranging the works, and a secure and reliable income from regular rental payments, without having to take on landlord responsibilities."

The Department is currently working with local authorities to implement the scheme on a local basis. A range of Approved Housing Bodies around the country have also expressed an interest in working with local authorities to deliver new social homes using the scheme.

The scheme will be monitored very closely this year in order to ensure that it works and is cost effective.

The Repair and Leasing Scheme is one of a number of initiatives in Rebuilding Ireland to address vacant properties around the country. Other initiatives include the Buy and Renew Scheme which provides funding for local authorities to purchase vacant properties and remediate them and a new National Vacant Housing Re-Use Strategy which is currently being finalised.

Property owners interested in the scheme should contact their local authority directly and register their interest.

(MH/CD)