renting out affordable housing

The Council allows Affordable Home Owners to temporarily "rent out" their homes subject to:
1. The clawback applies for a period of 20 years from the date of purchase, subject to the reduction provided between years 10 and 20 for normal residency by the purchaser. If the premises are not occupied by the purchaser, then the reduction does not apply.

2. The applicant complying with the statutory obligations required by a private landlord in relation to any subsequent letting, including registration with the Private Residential Tenancy Board."

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You have to
register as a landlord
loose TRS
The Clawback reduction does not apply ie. its 20yrs if you lease for 2 yrs, clawback is 22yrs
How this affects your Principle Place of Residence I dont know but but you MAY have to pay CGT (perhaps only for the years you lease).Normally dont have to pay this on your principle place of residence.
Interests rates are going up despite the ECB not going up
Property tax...? Interesting one this. If you are 50/50 and this is introduced you should only be paying whatever percentage is yours. Your landlord(the council) should be paying this..... ;)
 
Each CC have their own unique policies. This is from FCC. All councils dont have a universal agreement.

You can email DCC but your mail will only go into a black hole. This is my experience dealing with them. Civil Servants= poor management
 
pAnTs said:
what do you think they could do if they are the mortgage provider? I mean how would that change their position in a court etc? my mortgage is with the council themselves and Im just wondering what the difference is between me and a neighbour who changed mortgage providers?
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The affordable contract of sale tended to provide that the property would be sold subject to the registration of a charging order in favour of the local authority. The majority of contracts did not include a provision in relation to controlling the letting out of the property.

If you borrowed the purchase monies from the local authority it may be that the mortgage agreement includes a clause which would entitle the local authority to demand immediate repayment if there is breach in the mortgage terms. The mortgage terms could include that the property be used exclusively as the borrowers principal private residence. There is no chance that a local authority would try and enforce such a provision and demand repayment.
 
seriously guys, I read my contract, there is nothing in it that directly links to not being allowed to rent out your property. I have asked the council they wont answer. its unprecidented at the moment which suggests to me one of two things,
1-They no they cant stop you from leasing it out.
2-They are currently saying nothing as long as they are getting the mortgage repayments due to the current circumstances.

I think its the unspoken rule. Dont ask and we wont tell.
 
zen said:
seriously guys, I read my contract, there is nothing in it that directly links to not being allowed to rent out your property.
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Does it not say that you have to maintain it as your primary residence?
 
whats the difference between that and private private housing and not A/H private housing. You can still rent out your own private private home cant you? Primary residence is only for TRS implications.
This is why the country is in the state that it is. Keep everything grey. With all the threads about this. No one knows what the legal imlications are for this.
 
zen said:
whats the difference between that and private private housing and not A/H private housing. You can still rent out your own private private home cant you? Primary residence is only for TRS implications.
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Legally there's a big difference between buying a house on the condition that if you don't use it as your primary residence, you'll have to pay additional tax; and buying it on the condition that you have to use it as your primary residence. In one case renting it out is a breach of contract and in the other it isn't.
 
so taking A/H out of the equation, one may never legally lease out there own private home that was purchased as their primary place of residence?
 
You can do what you want with your house as long as you aren't breaching the terms of the cotnract you signed to buy it. The problem is that A/H housing contracts forbid you from not treating that house as your primary residence.
 
zen said:
The Council allows Affordable Home Owners to temporarily "rent out" their homes subject to:
1. The clawback applies for a period of 20 years from the date of purchase, subject to the reduction provided between years 10 and 20 for normal residency by the purchaser. If the premises are not occupied by the purchaser, then the reduction does not apply.

2. The applicant complying with the statutory obligations required by a private landlord in relation to any subsequent letting, including registration with the Private Residential Tenancy Board."

​
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I hope that it will a good help for the people whose hardly looking for their house.
 
Does anyone know what other county council's policies are regarding renting out affordable houses?
 
So in other words the OP wants to go on a nice holiday and expects the taxpayer, via the council, which in the end subsidised the affordable housing initiatives, to subsidise his house purchase for him?

Pull the other one, lad.
 
well it's not that the tax payer should pay but circumstances in peoples lives change...are there any updates on renting out an affordable housing home? I never rented it out as I would not break the AH Rules etc but I would like to have the flexibility as now 6 years down the road my life has changed somewhat.
 
lff12,

You dont quite understand how the scheme worked. In fact the taxpayer never subsidised anything. It was the builders, who had to provide 10% of their properties to the affordable housing, which the councils delegated out to those who were eligible. The only taxpayers money was towards the wages of the people in the council aff. housing section. so in that sense you are right, but that would not be a large amount of money involved. In fact when the scheme was running correctly it was making money for the council so in effect putting money back to the taxpayer ;)

just to clarify the taxpayer DID NOT susidise the % discounts of the property or anything like that

Cheers
Billie

lff12 said:
So in other words the OP wants to go on a nice holiday and expects the taxpayer, via the council, which in the end subsidised the affordable housing initiatives, to subsidise his house purchase for him?

Pull the other one, lad.
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a neighbour of mine got there a/h unit priced from the council recently and the guy told her the council will not be preventing anyone who wants to rent out there house/apartment from doing so , the guy also told her to more or less forget about the claw back as there are very few ,if any affordable housing places left that are not in negative equity. imo the whole affordable housing scheme was a scam to get poorer people to buy under developed and cheap houses that are more or less effectively just like flat complexes and housing projects that are spread throughout the city ,so as the council could wash their hands with the responsibility for housing and maintaining such schemes.
 
so what does that mean Nesta that they are happy to let people rent it out if they wish? which council?
 
Dublin City council.......yes , they said they wont prevent anyone from doing so . wonder are they just happy to be getting mortgage repayments as i can only assume the mortgage default percentage is much higher in the affordable housing community than any other section of society .
 
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