Vacant homes grant

[wheeler dealer]

How does the vacant homes grant work and has anyone experience with it for an investment property,I am guessing plenty of hoops to jump trough
I only ask because I see an advertised unfinished 3 bed semi property for sale ,I normally would not even look at an unfinished property but this is in a desirable location in local town and is probably a bank sale but the asking is a hefty 125k the outside looks finished but inside needs the works electrics ,electric conected,plumbing probably 60k low water .It would work out reasonable if grant covered a share of the expense

 

[ClubMan]

Vacant Property Refurbishment Grant

The Vacant Property Refurbishment Grant provides funding so you can refurbish vacant properties to live in or rent out.

www.citizensinformation.ie

You can get the grant if you are refurbishing the vacant property so you can live there, or so you can rent the property out.

Vacant Property Refurbishment Grant

www.gov.ie

Refurbishing Vacant Property - All Supports

The Vacant Property Refurbishment Grant is a scheme to support the sustainable reuse of vacant properties.

www.gov.ie

Don't know if this means that the powers that be are very slow or very strict or something else...

Just four grants have been made under €50,000 vacant property scheme

Just four grants have been issued under the Government’s vacant property refurbishment initiative since its launch a year ago, despite more than 1, 000 applications being approved.

m.independent.ie

Wed 19 Jul 2023 at 02:30

Just four grants have been issued under the Government’s vacant property refurbishment initiative since its launch a year ago, despite more than 1, 000 applications being approved.

 

[Leo]

Don't know if this means that the powers that be are very slow or very strict or something else...

My in-laws were considering it for a run-down property they own but the claw-back conditions are giving them pause for thought. Sell or stop renting it within 5 years you must repay 100%, do so between 5 and 10 years means you re-pay 75%.

 

[Thekurgan]

My in-laws were considering it for a run-down property they own but the claw-back conditions are giving them pause for thought. Sell or stop renting it within 5 years you must repay 100%, do so between 5 and 10 years means you re-pay 75%.

Have been contemplating applying for the vacant/derelict grant myself for an inherited family home
(not as primary residence)

From the renting side, apart from registering the tenancy on RTSB site the stipulations are that the property must be "available" for rent. If you choose not to rent it out I don't believe there's any rent assessment going on ...open to correction here.

The property may be deemed vacant again if dormant for 30 days though and how Revenue assess that and have the powers to do that is another question.

 

[Leo]

From the renting side, apart from registering the tenancy on RTSB site the stipulations are that the property must be "available" for rent. If you choose not to rent it out I don't believe there's any rent assessment going on ...open to correction here.

INot sure what you mean by rent assessment, but if there's no tenancy resisted with the RTB they may decide to issue a clawback unless you can prove it was available to rent.

The property may be deemed vacant again if dormant for 30 days though and how Revenue assess that and have the powers to do that is another question.

Revenue would know if you're not paying tax on rental income, but that's not something that would be triggered immediately after 30 days. They also have access to RTB records and so will know if there is a tenancy registered, but they won't always know straight away when a tenancy ends.