Long term letting to County Councils.

PaxmanK

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145
Was just talking to someone who is doing this.
He let his apartment to Fingal CoCo 3 years ago on the LTL scheme for 10 years.
He said it was very straightforward in the end.
And about 3 months ago, realizing he would probably never live in the apartment again even after in another 7 years and is happy with 85% of market rent, he called them and asked did they want to change from 10 to 25 years. And they agreed. So no he is on a new 25 year LTL with them. He is happy, they are happy. Everybody is happy.
Which is more than I can say for landlords who I know who did rent allowance or HAP.
 

PaxmanK

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145
Or private tenants who are being priced out of the market by the state.

Brendan
Thats true. Councils buying up and leasing huge amounts of property at the moment. Ordinary people cant get a look in at all.
But the RPZs have forced landlords to go for the easy more secure option. Makes you wonder if that was the intention of them all along. Force landlords out or to just lease to the state.
 

galway_blow_in

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1,616
Some recent experience on seeking to let a property to DCC under their LTL scheme:
  1. Their standards are very high. Their surveyors will examine the property top to bottom and "issues" that have never caused a problem in 100+ years of occupation of the house by its owners/private tenants will be show-stoppers for the council. For example, very small gaps in the party wall in the attic of a 100+ year old house will not be acceptable, if the windows are big enough to meet fire exit requirements but are not very large they may request that hinges are changed to increase the opening area.
  2. They offer no solutions in respect of the issues raised. Owner must resolve everything privately.
  3. There is no list of contractors/surveyors/certifiers that they require you to use to meet the requirements they set.
  4. The lease cannot be executed without appointing a lawyer. Presumably there is some sort of lien on the property that gets registered on the folio.
  5. There is a requirement to obtain the "consent" of the lender if there is a mortgage on the property. However, there is no prescribed form or standard wording.
  6. It is necessary to have the Council noted on the insurance policy, which the owner must retain. Some insurers may not be willing to provide insurance on a house let to the council/this type of letting may be regarded as riskier for the insurer and may attract a higher premium. The council offer no solution in this regard.
  7. Full certification is required in respect of electricity supply, fire alarm systems and gas supplies. This must be
  8. The property has to have a D1 energy rating or better. This may increase in the future.
  9. Oil/Gas boiler has to have been installed in the last 5 years or this is a show-stopper.
  10. All white goods have to be less than 6 months old with receipts/guarantees even if they are in perfect working order/high-end models - must dump anything more than 6 months old and replace with new or lease will not proceed.
  11. Council want a right of first refusal in event of sale of property during the lease term. This may mean the owner won't get full MV for the property if they have to sell.
  12. Tax Clearance certificate, NPPR certificate of discharge, LPT record.
  13. Exacting furniture requirements.
  14. No negotiation on rental valuation offered.
  15. No sense that there is a crisis of accommodation - if anything, they appear to have a good supply of property being made available and are in no rush to secure one-off properties.
Overall it's possibly simple enough for properties that have recently been refurbished from top to bottom, new builds or recently purchased buy to lets.

Has anyone gone through the process and if so, can they offer a ballpark for the cost of the legals, surveys etc.?
Yes indeed , they go over the house with tooth comb prior to taking it on , making various demands for improvements which are borderline neurotic , once they then take over the house , they dont give a sh1t if the occupants wreck it within a week
 

SPC100

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654
I'm curious to the state they actually return them in after ten or twenty years.

Can you inspect the interior during the lease?
 

7 of 9

Registered User
Messages
18
If your tenant is already under the HAP scheme, can you change to the Long Term Letting Scheme?
 
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