Cost rental scheme in East Cork town is launched

Cork County Council has launched a cost rental scheme which aims to provide affordable rented accommodation to people on middle incomes.

Applications for the new three- and four-bed houses at Silverwood, Youghal, will open at 12pm on Monday, April 20.

The scheme is aimed at people who do not own a home, are above the threshold for social housing but have difficulty affording private rented accommodation.

The cost rental scheme provides a secure tenancy at a rent that is below the market rent in the local area and is a long-term secure rental option.

This tenure of rental property is supported by the Department of Housing, Local Government and Heritage.

This development of newly built, A-rated, family homes will offer residents access to local amenities including blue flag beaches, the coastal boardwalk, schools, and transport links via the N25.

There are six three-bed, mid and end of terrace houses and two four-bed, end of terrace houses, and the rent is at least 26% below private market rents in the area.

Mayor of the County of Cork, Mary Linehan Foley, said: “Cork County Council is delighted to announce the launch of this cost rental scheme in Youghal.

“This development represents a major step forward in providing secure, affordable rental options for individuals and families who are above the threshold for social housing but find private rents unaffordable,” Ms Linehan Foley said.

“Silverwood is a fantastic location, combining coastal living with excellent connectivity, and this initiative reflects our ongoing progress in achieving the targets set by the government.”

Applications for the scheme will be accepted between 12pm on Monday, April 20, and 12pm on Tuesday, May 5, via the online application portal on Cork County Council’s website www.corkcoco.ie.

Houses will be allocated on a lottery basis to applicants who have submitted all the required documentation and who are deemed eligible for the scheme.

Renters will enter a tenancy arrangement with Cork County Council.