Longford/Westmeath Deputy James Bannon has welcomed the announcement by Minister for the Environment, Heritage & Local Government, John Gormley, that local authority housing tenants are to be offered the chance to buy their rented apartments.
“With tenant purchase schemes originating in the 1930s, it is certainly a case of better late than never for apartment tenants.
“The question has been asked repeatedly of the current Government as to why tenant purchase should be limited to housing tenants. With the rise of apartment ownership in line with European practice, it makes sense to extend the scheme to this sector,” said Deputy Bannon.
Subject to support from tenants, certain apartment complexes will now be transferred by local authorities to management companies, which would lease the apartments back to the authority, with tenants paying rent until the purchase price has been paid off.
However, Deputy Bannon insists the Government must ensure that tenants are protected under the scheme.
“With the bad press given to mzanagement companies, the new legislation of this sector which the Minister has promised would want to be copper-fastened to ensure that the tenants/purchasers are fully protected.
“During the boom years, the decline in public housing stock allied with higher property prices led to a decline in tenant purchase. Current lower prices offer a unique opportunity for lower-income households to make a long-term commitment to an area, increasing sustainable communities and social stability,” he said.
