The council have in the past and are now acquiring properties for social tenants.
Under the long term rental scheme the council maintain and carry out any repairs.
Unfortunately there has not and most probably will never be vacant properties in central locations for social tenants.
The council between the RAS scheme and now the long term rental scheme have been renting from me for 13yrs.
Quick look at lending at best rates just north of 2%.
Just to make the point if they borrowed at say 2.3% the bill for the year 5520. They pay me 17520. Some difference.
Every single political party is calling for the building of social units. Noregrets take a look at the building costs for 870sq ft in Dublin.
There is absolutely minimal risk to the council on the unit. The cost to build such a unit is north of 350k.
To me its just a ticking the box exercise. The council would buy the unit in the morning if empty. They can then tick a box and show that they have taken another family off the housing list. To date I estimate they have payed nearly 200k on the unit over past 13 yrs.
Unfortunately for me most of this has returned to central funds 52% tax prsi usc.