I entered into a ten year lease with Limerick Council in July 2018, I've never met the person living in the property, the local authority deals with all tenant related issues, I'm responsible for structural repairs but say a kitchen appliance breaks down or even the gas boiler needs repair, that's the responsibility of the council
I receive 850 euro per month and in the eighteen months since the lease commenced, i have not had to spend a penny, i pay LPT and house insurance
I bought the two bedroom terraced town house for 72k so it's a good return on money, however, my house is not in a desirable area, it's on a quiet street but is very close to an area with a pretty awful reputation.
Add to that, it is my view that the councils use those long term lease schemes to get problem people off their plate for a decade, it's written in my lease that the property comes back in the condition i handed it over but i don't think I'd be happy to enter into such an arrangement with a much more expensive property