Tuath welcomes Minister to Cost Rental site

Tuath welcomes Minister to Cost Rental site

 

Cost Rental Homes to Rent in South Dublin

20/5/21

Minister for Housing, Darragh O’ Brien was on site yesterday at Kilcarbery Grange in Clondalkin which will provide 74 affordable, cost rental homes with rents over 30% lower than open market rents in the area. The rent for a 1 bed apartment will be €1,025 and €1,229 for a 2 bed.

The homes in Kilcarbery are part of an overall South Dublin County Council initiative to provide over 1,000 new homes on local authority land with a mix of social, private and affordable homes to be delivered by Adwood Limited.

Tuath is also working on the delivery of 44 further cost rental homes in City West with Harcourt Developments and another 50 homes in Stepaside in partnership with Respond and Dun Laoghaire Rathdown County Council.

The core principle of the cost rental model is that rents charged to tenants  cover costs including land purchase, construction, and the ongoing maintenance of homes. The key aim is to provide quality, secure accommodation while ensuring that a cost-based rent is passed onto the eligible applicants.

Sean O’Connor, CEO of Tuath commented “We are determined to play our part in the delivery of cost rental homes for those who are unable to access housing through the open market or the social housing route. These schemes will create choice and diversity in the housing market and provide affordable homes that are urgently required. The provision of cost rental homes is a key objective for the Association and our Board of Management.”

Minister O’Brien added, “Cost rental, which will be placed on a statutory footing as part of the Affordable Housing Bill 2021, is an exciting new form of tenure where tenants pay rent that covers the costs of delivering, managing, and maintaining the homes only. I am very energised to see progress being made on site here which will result in households with moderate income being able to access affordable, secure tenancies in accommodation suitable to their needs. I look forward to seeing more projects progress across the State,” he concluded.