Cost Rental

What is Cost Rental Housing?

The Cost Rental Scheme can give you a secure tenancy at a rent that is below the market rent in the local area. It is a long-term and secure rental option. If you are paying your rent and meeting your other tenant responsibilities, you can continue to rent your home for as long as you want. 

Please see an Easy to Read guide on Cost Rental.

What it is:

Cost Rental housing offers affordable rented accommodation to people who struggle to afford private rented housing.

The rent amount is based on the cost of building, managing, and maintaining the homes and the developer does not make a profit. This makes the rent at least 25% below regular market rents in the area, providing a more affordable housing option.

Who it’s for:

Cost Rental housing is meant for people on incomes that are too high for them to qualify for social housing support but are facing challenges in affording private rented accommodation.

To qualify for Cost Rental, you must meet certain requirements. These include being within the income threshold for the scheme, not receiving social housing support, not owning a property and to have the same household size to the property that is advertised.

How it works:

Cost Rental housing operates by calculating rents over a minimum of 40 years. It takes into account the costs of construction, management, and maintenance of the property. Rents must be at least 25% below private market rents, with annual increases tied to inflation.

Approved housing bodies, local authorities, and the Land Development Agency offer Cost Rental homes, ensuring long-term security of tenure for tenants. When Cost Rental homes become available they are advertised online by the provider. If you are interested in a cost rental tenancy make sure you check online regularly.

More information about cost rental housing.

Renting a home

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