The Vacant Property Refurbishment Grant is repeatedly referenced on shows like RTE’s ‘Room to Improve’ but what exactly is this Grant and how can you avail of same?
Once a grant application receives approval, applicants must complete works applied for within a period of 13 months.
Derelict Property top-up Grant
Proofs required with application:
As at the beginning of February 2024 only 127 grants from 6,300 applications had been drawn down by homeowners since the scheme came into effect so it is vitally important for homeowners to understand what the Grant is available for and how to correctly apply for same.
OSM Partners LLP have acted for clients in ensuring they have successfully obtained payment under this Scheme so for more information on the Vacant Property Refurbishment Grant and how to successfully apply for same please contact a member of OSM Partners LLP’s Property team.
Vacant Property Refurbishment Grant
Since 01 May 2023, a local authority grant of up to €50,000 is available for the refurbishment of vacant properties. To be eligible the property must have been built up to and including 2007. Prior to 1 May 2023, only properties built before 1993 were eligible. The scheme is available to applicants who intend to use the property as their principal private residence or applicants who will make the property available to rent on the private market. For rental properties, proof of registration of the tenancy with the Residential Tenancies Board (RTB) must be provided to the local authority before drawdown of the grant. The grant is also available for properties which are being converted from non-residential to residential use (subject to the appropriate planning permission being in place). The grant is not available to registered companies or developers.
Once a grant application receives approval, applicants must complete works applied for within a period of 13 months.
Derelict Property top-up Grant
A further top-up grant of up to €20,000 is available where the property is confirmed by the applicant to be derelict (i.e. structurally unsound and dangerous) or if the property is already on the local authority’s Derelict Sites Register; bringing the total grant available for a derelict property up to a maximum of €70,000.
Proofs required with application:
In order to be eligible for the grant, applicants must submit the following proofs:
- Proof that the property was built up to and including 2007 (before 2008).
- Proof of Vacancy - The property must be vacant for two years or more at the time the grant is applied for. Proof of such vacancy must be provided with the application (e.g. Utility bills).
- Proof of Dereliction – in order to qualify for the additional €20,000 top up, applicants must submit evidence that the property is deemed derelict (i.e. structurally unsound and dangerous) by way of an independent report from a suitably qualified professional. The property can also be deemed derelict if it is on the local authority’s Derelict Sites Register.
- Proof of Ownership must be submitted with the application. It is worth noting that a local authority may give approval in principle even where the applicant is still in negotiations to purchase a property. Such approval in principle will be confirmed once the local authority is satisfied that the applicant has become the legal owner of the property.
Types of Work Covered:
It is important to note that the grant is paid on completion of the works. Works must be approved in advance by the local authority which will carry out an inspection(s) of the works. Applicants must provide vouched expenditure for all works undertaken.
Further information relating to the categories of works which are eligible for the grant can be found online at: https://www.gov.ie/en/service/f8f1b-vacant-property-refurbishment-grant/
Clawback Provisions:
When applying for the grant, applicants must agree to clawback conditions and must agree that they will live in the subject property (or make it available for rent) for a period of at least five years from the date of payment of the grant. If they sell the property or it ceases to be their principal private residence (or is no longer available for rent) within ten years from payment of the grant, they are required to re-imburse the local authority a proportion of the grant. No clawback occurs after 10 years from the date of payment of the grant.
Conclusion
As at the beginning of February 2024 only 127 grants from 6,300 applications had been drawn down by homeowners since the scheme came into effect so it is vitally important for homeowners to understand what the Grant is available for and how to correctly apply for same.
OSM Partners LLP have acted for clients in ensuring they have successfully obtained payment under this Scheme so for more information on the Vacant Property Refurbishment Grant and how to successfully apply for same please contact a member of OSM Partners LLP’s Property team.
