Long Term Leasing Scheme

This scheme allows local authorities and approved housing bodies (AHBs) to lease suitable vacant properties for periods of between 10 to 25 years with a rent which is approx 80% of market rent. The deduction from the rent goes towards the general maintenance of the property which is carried out by Waterford City and County Council over the term of the lease.

Under the arrangement, Waterford City and County Council will:
  • Be the landlord to the tenants
  • 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
  • Pay up to 80-85% of the open market rent throughout the term (depending on management service charge) with a rent review every 3 years
The property owner will:
  • Satisfy the local authority that they have a good and marketable title to the property
  • Provide a home that is adequately furnished and which has a BER Certificate of at least a ‘D1’
  • Carry out any works required so that the property complies with the Housing (Standards for Rented Houses) Regulations 2019. A list of typical works are available here.
  • Retain responsibility for the structural repairs, structural maintenance and structural insurance.
Benefits of long-term leasing:
  • Guaranteed rental income
  • No management of tenants
  • No rent or arrears collections
  • No general maintenance of the residential property after the first six months of the lease
  • No requirement to register with the Residential Tenancy Board
  • No advertising or administration fees

The property must be vacant and comply with the Housing (Standards for Rented Houses) Regulations 2019 and Waterford City and County Council requirements before the property is accepted onto the Scheme.

Please fill out the LTL Enquiry Form and return it to leasing@waterfordcouncil.ie in order to register your interest in the scheme.

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