Ok to answer my own question, which could be useful to other landlords out there.
I have given one of my rental properties to Housing first a branch of Focus Ireland
The Pros.....
Extremely competitive rents offered.....You might be shocked !!! They are able to pay up to 1.5 times what the HAP can pay.
I signed up to the 5 year contract which comes with the additional benefit that they fully manage it and pay for all repairs.
They offer a guarantee (which i got in writing) that the property will be returned in at least as good condition as when received.
The rent is paid by the HAP monthly for 5 years, whether there is a tenant there or not.
TWO months rent and a deposit of a months rent is paid in advance.
Obviously each year the rent can increase by 4% if you can prove that rents in your area have increased and follow the standard procedure.
This next point is very important.....The day you meet the housing officer, if you are happy with everything, payment will commence from and backdated to that day!!!
The housing officer fills in all the paperwork. You just sign the standard HAP form the day you meet him.
The Cons....
"Housing first" basically provides housing to desperate individuals and yes they might be drug addicts or alcoholics....thus the name "housing first".
As an owner I am going to be out of the loop for the first time ever in terms of managing this property.
I was/am slightly concerned regarding upsetting the neighbours, however everyone deserves a chance to turn their life around.
With all the pros mentioned and specifically the guarantee mentioned above it seemed a no brainer to me.