Twenty five new-build homes in Balbriggan Co. Dublin have become the State's first cost rental housing.
440 homes are to be available as part of the new housing model by the end of the year.
So those will be in locations such as Kildare, Dublin and Cork.
Tenants are guaranteed rents will be set at a minimum of 25 per cent below open market value.
Cluid Housing Director Fiona Cormican says tenants can stay as long as they wish.
"Under the Residential Tenancies Board act, you've got six years."
"Your first term is six years, and after that it just rolls over."
"As long as you keep paying your rent and you're mindful of the tenancy agreement."
Fingal County Council Housing Dept delighted to work with @CluidHousing on Ireland's first cost rental homes launched today in Taylor Hill Balbriggan by Minister for Housing @DarraghOBrienTD & Fingal Mayor @seanaorodaigh Dea-nuacht maidir le tithíocht See: https://t.co/H0wY12p02V pic.twitter.com/7l7FT5duDk
— Fingal County Council (@Fingalcoco) July 7, 2021
How Are They Choosing The Tenants
Fiona Cormican says they put a lot of thought into this.
They decided on a lottery system in the end.
"We suspected we would have high demand."
"With 50% below market rent, we thought we'd have huge demand."
"So we looked at how we could put filters on it, to make it as fair as possible."
"The only fair way we could do it, for people across the country and the city who are desperate for affordable rent."
"So we just had to open it up to people."
