'Cost rental' homes in Navan could ease pressure on tenants
New ‘cost rental’ housing at Woodstream in Farganstown, Navan will provide welcome relief to would-be renters who don't qualify for HAP payments.
Applications for new Cost Rental houses at Woodstream, Bailis, Navan open at 9am tomorrow (Wednesday 16th October) and interested applicants will be able to register their interest for one of the 36 brand new, A-rated three-bed houses.
Rent for each three-bed house is €1,374 per month. These rents represent a 33 per cent discount on current market rents in the area. In addition to the low cost to run these brand-new homes, new Cost Rental residents will also benefit from secure, life-long tenancies and high-quality, responsive management and maintenance.
The cost rental houses will be leased to tenants whose incomes are above the threshold for Housing Assistance Payments (HAP), but whose net household income is below €59,000.
Brian O’Gorman, chief executive officer, Clúid Housing, commented: “Cost Rental has the potential to change the lives of those struggling with the private rental market, by offering them a secure, high-quality home for life, at a discounted rent. We hope these new homes at Woodstream will allow 36 more households to put down roots and contribute to the local community here in Navan. Clúid is working hard to delivery Cost Rental homes at scale across the country so many more people can benefit from the security of Cost Rental.”
The Mayor of Navan, Cllr Eddie Fennessy, added: “The scramble for housing has driven costs to crazy heights. Most of the properties I have seen had a rental cost of in and around €2,000 per month.
“I took a look online this morning and found 51 residential properties to let in Meath. We have a population of over 220,000 people in the county. 51 properties is nowhere near enough to meet our housing need.
“The cost of renting a property in the county is a huge burden on young families. They simply can't afford those rates.
“Security of tenure is one of the most important issues facing those families today. The cost rental model, though not perfect offers that security at a lower rate of 75 per cent of the average market rent.
“The scheme will be administrated by Cluid Housing. The properties will be advertised on their website. Interested parties are invited to apply and a lottery system will be used to select the successful applicants.”
The new Cost Rental homes were delivered by Clúid in partnership with Meath County Council, and with the support of the Department of Housing, Heritage and Local Government, The Housing Agency and the Housing Finance Agency. They are part of the wider Woodstream estate, developed by Andrews Construction.
Those interested in renting one of these homes can find more information and start the application process on www.cluid.ie.
Visitors to the Clúid website can also register to be notified about upcoming Cost Rental homes in their area. Clúid manages over 320 Cost Rental homes in Kildare, Dublin, Cork, Kilkenny, Meath and Laois and is expecting to deliver more than 300 Cost Rental homes in the coming month.