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Urban renewal and renters

  • 16-02-2022 06:45PM
    #1
    bullpost
    Registered Users, Registered Users 2 Posts: 4,282 ✭✭✭


    Thinking outside the box here and the idea might be total cack but here goes - Is there any merit in introducing a scheme where the derelict homes that blight our towns and cities around Ireland are renovated by funds coming from renters who borrow to fund the renovation from a special fund with low interest rates exclusive targeting urban renewal?

    So this would make a lot of money available to renovate homes which would then be occupied by the renter who borrowed to fund the renovation. They would rent the property for the period of the loan and their rent would be offset against their loan and if they decided to move on, they could "transfer" the loan tied to the property to whoever wants to now rent the property along with the benefits of offsetting the rent against the loan. I'd envisage the local authority owning these properties and being involved in the loan scheme with the benefit that ultimately they would own a good home which would be available to future renters .



Comments

  • #2
    bucketybuck
    Registered Users, Registered Users 2 Posts: 19,125 ✭✭✭✭bucketybuck


    So I take out a loan to fix up somebody elses house, and if I leave I have to try and convince somebody else again to take on my debt on the house that they also won't own?

    Sure, where do I sign?



  • #3
    Del2005
    Registered Users, Registered Users 2 Posts: 19,101 ✭✭✭✭Del2005


    How do you take out a loan with no security? The councils already have enough trouble with their tenants not paying they aren't going to take on more debt, the government setup all the housing trusts to keep housing off the books.

    A lot of the derelict houses aren't suitable for living in as they where designed for different times and have structural issues so would require near complete demolition to get up to modern standards, when you are doing that much work it'd be better to fully demolish and build new.



  • #4
    bullpost
    Registered Users, Registered Users 2 Posts: 4,282 ✭✭✭bullpost


    https://www.boards.ie/discussion/comment/118642385#Comment_118642385

    Not quite. The model would be more like a Timeshare where the renter has very defined benefits i.e. access to good quality affordable accomodation . The Council would ultimately own the properties but they would remain available only to "members" of the scheme and so it would all depend on the availability of enough of these type of properties and probably CPOs etc.

    I'm no economist and admit theres a lot of if, buts and maybes here but just wanted to throw the idea out there.



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