looking at the affodable housing scheme...just wondering what the story is with renting out a room - is it allowed? problem is, might be heading to oz next year for a job and was wondering if it could be rented out when im gone..if not its not worth my while even applying.
Renting out affordable housing?
- Thread starter shola
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GA001
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Depends which county council you apply to. you say you are goint to rent a room ? Do you really mean you plan to rent the whole house out ? Which is unfair to people actually on the list.
You will be found out.
Anyway the chances of you getting offered a place within a few weeks of applying are quite slim, so yea it probably would not be worth your while applying.
You will be found out.
Anyway the chances of you getting offered a place within a few weeks of applying are quite slim, so yea it probably would not be worth your while applying.
Well, I think as long as you are not trying to make money out of it, I suppose it could be ok. If you rent out a room to some one you trust then they could keep an eye on the place while you were away. As long as this property remains your PPR. And is not let out in its entirety. The total amount you are able charge for a room is 10,000 a year. Which is about 833 a month. So you may und up having to make up any short fall of any mortgage payments, while you are away. But in theory I don’t see any thing wrong with this, your entitled to go away for a while if you want, owning an AH should not stop you.
Although buying a place will incur fairly massive initial costs, ie. Furnishing it and so on, so you may not be able to buy and go away too, unless you have a good bit of cash behind you. You won’t be able to rent out a room in a shell of a place
The key thing is that it’s genuinely your home and you are coming back to live there in the short term. Also remember the stress of dealing with a tenant while you are on the other side of the world may also be something you want to avoid.
In short you could probably do it, but would you have the financial means to, and do you want the extra hassle. Who knows what state the property Market might be in by the time you get back! You may not even need an AH at that stage.
Take another scenario, the economy goes really bad, you lose your job and end up having to go abroad to work? What happens then? This is a real possibility for me (IT professional) so I will have to get clarification on this before I buy my AH, but I would imagine I would have to let a room like this if it came to the crunch and I had to go abroad to work, although this would not be through choice, but I am just being realistic about job prospects here over the next 5/10 years.
Clongriffin
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most councils will state you are unable to rent an affordable/shared ownership home. You may rent a room, however to rent the full accomodatiion you are going against the contract you will sign with them, and they can in this case force the consequences on this. I'd double check with them.
So what happens if your employer relocates your company?
What happens If I am sent on a contract for six months by my company in US or somewhere else?
What happens if you are forced due to economic conditions go away to work in another country?
What happens if you want to take a career break and travel the world for a year?
What happens if you have to move to look after a relative who is sick or dieing?
What happens if for some other unforeseen genuine reason you have to go and live some where else out of the state for a while?
In an ideal world none of this would happen, but in my experience the unexpected always happens.
While some one may start off with every intention of living in their AH, down the line life may throw surprises at them that were not in the general plan.
In all these circumstances you may be forced into a situation were you are renting a room, just not living there, temporally at least. I think that if someone buys an AH house and genuinely hopes to make it their PPR, and it at all times is their PPR i.e. they are not renting a place elsewhere in the state, and tries not to make a quick buck out of it, or use it as a means to gain an investment property then they are well with in the spirit of the scheme.
Clongriffin
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this thread should be closed. There seems to be alot of people trying to see if they can buy just to rent out the last few days. I'm sure they'll be found out. Imagine the cheek.
this thread should be closed. There seems to be alot of people trying to see if they can buy just to rent out the last few days. I'm sure they'll be found out. Imagine the cheek.
I never said that. I disagree with renting out an AH.
However as you are able to rent out a room under the rent a room scheme, and as long as your PPR is not else were in the state, if you are absent from the AH for a few months here or there over the
Claw back term of 20 years, it should be of no great consequence. You will all be saying I cant go on holiday for two weeks next.
...or the rest of the world!
On the Dublin City Council website there is nothing about not being able to rent it out (though that would appear to me to be against the spirit (if not the rules) of the scheme)
Citizensinformation.ie has nothing to that effect either.
The affordablehousing.ie booklet doesn't mention it.
You would think that it would be an important point to cover.
Citizensinformation.ie has nothing to that effect either.
The affordablehousing.ie booklet doesn't mention it.
You would think that it would be an important point to cover.
Clongriffin
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its not on the website, its on the contract you sign.
You may think that but it's the contract that matters.
I'm closing this thread because it looks like yet another attempt to exploit the AH scheme most likely in breach of the relevant contract. The only advice for people like the original poster is to do the research in advance and read any contracts carefully.
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