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Repair and Lease Scheme (RLS)

The Repair and Leasing Scheme is an opportunity to bring vacant houses or commercial properties back into use as homes for families and individuals on the social housing waiting list.

Suitable buildings are typically located in central locations or are in high profile sites that benefit from renovation. Some key areas of interest for Cork City Council are properties that can be converted into multi-unit apartments of one/two-bedroom size.

Under the Repair and Leasing Scheme Cork City Council will provide an interest free loan of up to €80,000 (including VAT) per individual unit delivered, to bring the property up to rental standard. In return, each unit is leased to Cork City Council for between 5-25 years. The loan is repaid via a deduction in the monthly rent over an agreed term within the lease. 

What is RLS and what funding is available?

  • RLS provides social housing through the renovation of vacant privately owned properties.
  • Cork City Council provides a loan to carry out works on vacant properties to bring them up to rental standards.
  • The renovated property is leased to Cork City Council to provide social housing for between 5-25 years. 
  • The maximum loan is €80,000, including VAT, per completed unit; 2 units max €160,000, 3 units max €240,000, 4 units max €320,000 etc.
  • The loan is offset against the monthly lease payment to the owner.
  • Income - lease payments maximum 80%/85% of market rent for long-term leases or 92%/95% for rental availability agreements, less offset.

Benefits to Property Owner

  • Long-term lease option (5-25 years) or rental availability agreement (5-10 years typically).
  • Cork City Council is the landlord to the tenant; no day-to-day maintenance (long-term lease only).
  • No loss of rent during vacant periods; no advertising/letting fees.
  • Guaranteed income for lifetime of lease.
  • Interest free loan up to €80,000 including VAT, per unit, for example, where a vacant pub is converted into 7 units, maximum funding of €560,000 is available. In the case of multi-unit developments, funding may be apportioned between units.
  • There is no limit on the number of units one property owner can provide under RLS.
  • Tax relief under the Living Cities Initiative may apply, where appropriate (provided that all other requirements of the Initiative are met).

What properties qualify?

  • Properties must be vacant for at least 12 months; and 
  • Cork City Council must decide that the units are required and suitable for social housing.

Where can I apply?

If you are interested in applying to this scheme please see documentation below:

If you have any queries please contact us at 0214924689 or housingcapital@corkcity.ie . 

Further Information

Repair & Leasing Scheme:

https://www.gov.ie/en/publication/d32c4-repair-and-leasing-scheme-rls-further-information/

Living Cities Initiative:

https://www.revenue.ie/en/property/living-city-initiative/index.aspx

Revenue Commissioners website - tax treatment of RLS:

https://www.revenue.ie/ga/tax-professionals/ebrief/2024/no-0432024.aspx

Rental Standards:

https://www.irishstatutebook.ie/eli/2019/si/137/made/en/print