Income limit of applicant for joining cost rental scheme revised
DUBLIN: The income limit of the applicant has been revised to join the cost-rental scheme implemented by the Government to help the existing tenants.
A household with an income of less than €82,000 before tax will be able to apply for the scheme. The income cap will depend on whether the applicant is a couple or single. Earlier, couples with a joint income of €75,000 and individuals with an income of €50,000 were eligible for the scheme.
The applicant’s income cap is being reduced in order to keep increasing rents in Dublin and throughout Ireland under control. The requirements for the Government scheme were revealed by Minister for Housing, Darragh O’Brien.
There will also be a variety of accommodation types, including apartments and houses, depending on the type of applicant.
Last month, a cost rental scheme in Balbriggan with 25 houses attracted almost 500 applicants in the first 24 hours after it went online.
HAP recipients will be excluded from the scheme
At the same time, some restrictions have been introduced in the scheme. Applicants who are currently receiving Housing Assistance Payment (HAP) or rent supplements will be excluded from the scheme. In addition, they must prove in the application that they can afford the rent through their own income. However, if the applicant loses his or her job and goes on HAP, he or she will still be eligible for the scheme.
The scheme is mainly aimed at the workers. The scheme was implemented in the special interest of the Green Party, a constituent party of the ruling coalition. This was one of the key promises in the Green Party’s election campaign.
The cost renting plan is being implemented in the majority of European nations. So rents and house prices are low there.
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