Darragh O'Brien (Dublin Fingal, Fianna Fail) | Oireachtas source

I thank the Deputy. While the Government's objective is to focus strongly on local authority-led build activity, long-term leasing is an important option available to authorities to supplement delivery and secure high-quality social housing on a long-term basis. Lease payments are paid to the property owner based on a discounted market rent, with the level of discount reflecting the variation in maintenance and management responsibilities taken on by the owner. The maximum lease is 25 years and rents are reviewed every three years, linked to the harmonised index of consumer prices.

The standard long-term leasing programme has been in operation for over ten years and has a well-established assessment protocol. Local authorities have that delegated sanction to lease up to four dwellings. All proposals to lease five or more dwellings must be submitted to my Department for approval. These proposals must be accompanied by an independent valuation of the market rent for the properties carried out by or commissioned and paid for by the relevant local authority. The enhanced leasing scheme was launched in 2018 and all potential proposals are submitted by the proposers to the Housing Agency for initial assessment and co-ordination with local authorities. The proposal is then submitted to my Department for approval. As with all long-term leasing, enhanced leasing proposals submitted to my Department must be accompanied by an independent valuation of the market rent for the properties carried out by or commissioned and paid for by the relevant local authority in the area in which those properties are located.

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