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Query re Rental Allowance Scheme

  • 04-12-2012 1:42pm
    #1
    TheNap
    Closed Accounts Posts: 786 ✭✭✭


    Im currently looking to get mortgage approval and then rent out the house through the RAS with the council.Can somebosy please give me the pros and cons of doing this please ?


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,576 ✭✭✭✭Victor


    RAS is the Rental Accommodation Scheme, quite different from rent allowance / rent supplement.

    http://www.citizensinformation.ie/en/housing/local_authority_and_social_housing/rental_accommodation_scheme.html

    It has the advantage of having a fixed tenant for a number of years.


  • #3
    TheNap
    Closed Accounts Posts: 786 ✭✭✭TheNap


    And how long does it take for the council to approve your property for this scheme ? Obviously ill have to take the hit during the waiting period


  • #4
    K_P
    Registered Users, Registered Users 2 Posts: 577 ✭✭✭K_P


    There's absolutely no guarantee that they will approve it at all. It all depends on whether or not it meets their criteria, whether it's located in an area where they have high demand, whether the size of the property would meet demand they have (eg, if they have no demand for 4-bed houses but are inundated with applications for 2-beds, they might not be interested if you're offering them a 4-bed). And of course ultimately it comes down to their budget.

    I'd recommend talking to your local authority and gauge their interest before you go any further with this. I'm not sure how much info they'd give you considering you don't own the property though.

    Bear in mind that explanatory leaflet was written in 2004/2005 when private landlords didn't want to touch social housing with a 20 foot pole. I'd imagine councils are inundated with RAS properties these days.


  • #5
    TheNap
    Closed Accounts Posts: 786 ✭✭✭TheNap


    Cheers for the reply .. Yeah the fear would be them not accepting the proprty then im left paying for an empty house .. I will look into more and not rush into anything , thanks.


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