Council launches first cost rental scheme

A cost rental scheme has been launched in Bantry with applications set to open for the development later this month.

It’s the first cost rental scheme launched by Cork County Council and is aimed aimed at people who do not own a home and are above the threshold for social housing but have difficulty affording private rented accommodation. Cost rental provides a secure tenancy at a rent which is below the market rent in the local area and is a long-term secure rental option.

Applications for the new two, three and four bed houses at An Cnocan, Milleencoola, Bantry will open at 12 noon on Monday 14 October. The rent for the 10 houses, made up of eight two-bedroom, one three-bedroom and one four-bedroom properties, is at least 25% below private market rents in the area.

Mayor of the County of Cork Cllr Joe Carroll said: “The development at An Cnocan offers high-quality, affordable rental homes in an exclusive development within walking distance to the town centre. This new scheme, demonstrates the work that Cork County Council is doing to achieve the housing targets set by government.”

Houses will be allocated on a lottery basis to applicants who have submitted all the required documents and who are deemed eligible for the scheme and renters will enter a tenancy arrangement with Cork County Council.

Chief Executive of Cork County Council, Moira Murrell said: “Cost rental homes offer security of tenure and are a long term, affordable rental option. Bantry is the first scheme in county Cork and further cost rental schemes will open in Midleton and Bandon in the next number of months, followed by schemes in other towns in 2025 and beyond. These houses will provide a further supply of high-quality homes for eligible applicants in county Cork and assist in meeting our housing targets.”

Applications for the scheme will be accepted until 12 noon on 28 October at corkcoco.ie.