The Cabinet have agreed a series of measures to provide increased protection for renters from the start of April when the eviction ban is due to be phased out.
The proposals, which were advanced by the Green Party, include an expanded "tenant-in-situ" scheme which will mean for renters in receipt of State supports such as HAP - councils can purchase their home and make it available to them as social housing.
For those not in receipt of supports, but at risk of homelessness, their local housing body or council can purchase their home and rent it to them on a "cost rental" or not-for-profit basis.
The Government argued that as well as preventing homelessness, these measures will result in long-term security of tenure for tenants.
For those tenants who are in a position to purchase their home, a third option will be available. They will be given first refusal on buying their home, and can apply for the State-backed shared equity scheme which will reduce the up-front cost of purchase by up to 30%.
Alternatively, they can apply for the Local Authority Home Loan, a subsidised mortgage targeted at low and middle-income households.
Legislation is being drafted to underpin the planned new supports, but it is understood the cost rental “safety net” will be in place from April 1st, when the phasing out of the moratorium begins.
