Cost Rental Homes

Everything you need to know

What is Cost Rental?

Cost Rental is a Government-supported housing scheme that provides high-quality homes at rents that are typically at least 25% below local market rates. It is designed for people on middle incomes who may not qualify for social housing but are finding it difficult to access affordable rental accommodation.

At Oaklee, we believe everyone should have access to a secure and affordable home. Cost Rental homes offer residents long-term stability, predictable rents and the opportunity to put down roots in their community.

One of the key benefits of Cost Rental is security of tenure. As long as you meet your tenancy obligations and pay your rent, you can continue to live in your home for as long as you wish.

Why Choose Cost Rental?

Cost Rental offers a range of benefits for individuals, couples and families looking for an affordable place to call home:

  • Rents that are typically at least 25% below local market rates.

  • Long-term security and stability.

  • High-quality, professionally managed homes.

  • Clear and transparent eligibility criteria.

  • An affordable alternative to the private rental market.

Featured Cost Rental Developments

Read more

The Sidings, Adamstown

  • 154 Cost Rental homes and 30 social homes

  • Delivered in partnership with Evara Ireland and South Dublin County Council

  • Funded through CALF, CREL, HFA and private finance

View The Sidings Adamstown

Harmen's Rest, Donabate - (Coming Soon)

  • 168 new homes across three apartment blocks.

  • Mix of social and Cost Rental housing delivered in partnership with Fingal County Council.

  • Located on Turvey Avenue, Donabate, in a well-connected and growing residential area.

View Harmens Rest

Could I Be Eligible?

To apply for a Cost Rental home, you must meet the following criteria:

  • Your net household income must be below €66,000 per year.

  • You are not receiving social housing supports.

  • You do not own a property.

  • Your household size matches the size of the home available.

  • Your household income is sufficient to meet the cost of the rent.

  • Only one application per household can be made for each advertised property.

How Is Household Income Calculated?

Your net household income is the combined take-home income of everyone in your household aged 18 or over. This means income after deductions such as Income Tax, PRSI, USC and pension contributions.

We generally take income from employment, self-employment, pensions, investments, maintenance payments and most social welfare payments into account when assessing eligibility. Some support payments, including Child Benefit, Carer's Allowance and Fuel Allowance, are not included in this calculation.

If you are unsure whether you meet the income criteria, we encourage you to apply. All applications are assessed individually and supporting documentation will be reviewed as part of the application process.

Applying for a Cost Rental Home

When Cost Rental homes become available, details of the development, eligibility requirements and application process will be published on the Oaklee website.

Applicants will be asked to provide supporting documentation to verify their identity, household composition and income. Having these documents ready can help make the application process quicker and easier.

We encourage you to check the Oaklee website regularly for new Cost Rental opportunities and updates on upcoming developments.

Stay Informed About Future Cost Rental Homes

If there are currently no Cost Rental homes available in your area, sign up to receive notifications about future launches.

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How do I apply?

There are five steps in the Cost Rental application process. Before applying, make sure you have identified a suitable Cost Rental home, confirmed that you meet the eligibility criteria, and gathered the required supporting documentation.

Step 1: Register Your Interest

When applications open for a Cost Rental development, you can register your interest through the application portal. Once your registration has been received, you will be entered into the lottery process and receive a confirmation email.

Step 2: Lottery Selection

If your application is selected in the lottery, you will receive an email inviting you to progress to the next stage of the process.

Step 3: Submit Supporting Documentation

Successful applicants will be asked to upload supporting documentation within 72 hours of receiving their invitation. This documentation will be used to assess eligibility and verify the information provided in the application.

Step 4: Application Assessment

Your application will be reviewed by the assessment team. In some cases, you may be asked to provide additional information or documentation to support your application.

Once the assessment is complete, you will be notified whether your application has been approved or unsuccessful.

Step 5: Home Offer and Move-In

If your application is approved, you will be invited to view your allocated home, agree a move-in date and complete the lease agreement process.

Following approval, residents can typically expect to move into their new home within approximately six weeks.

Frequently asked questions

Frequently asked questions

To allocate the properties in the fairest way possible after meeting affordability, we use a random selection process and contact people to commence verification. We will ask you to submit the following documentation to confirm eligibility. Having registered your interest in applying for a Cost Rental, Affordable Home, you will be expected to provide all of these documents with 72 hours following the invitation to participate in the lottery, so you should have them ready to go before you apply.

It is important to note, that the invitation to participate in the lottery is simply the next stage in the process and is not an offer letter.

The following is a list of all documents you will be required to submit in order to proceed with your application:

Letter outlining how you reached your Household 'Net Income' calculation for all household members over 18 years.

If employed: Employment Details Summary (formerly P60) for the most recently completed tax year.

Last three months’ payslips.

Statement of Liability (p21).

If self-employed– a minimum of 1 year’s accounts, along with an up-to-date tax balancing statement and preliminary tax receipt.

Social Welfare Income – documentary evidence of all social insurance and social assistance payments, allowances and pensions being received by members of the household. As income of household members over 18 is also included in the assessment for qualification, evidence of payments to these household members is also needed.

Proof of ID for each household member, including children, documents required include Proof of ID (Current Valid Signed Passport/Current Valid Passport Card/Current Valid Travel Document/Current Valid EU/EEA Driving Licence– must contain photograph (Irish Provisional accepted)/Current EU National Identity Card).

Proof of Address documents required include, tenancy agreement, utility Bill e.g. telephone, mobile, gas, electricity, heating, oil, waste collection (where a utility bill is a first bill, a second form of address verification is required), correspondence from a Regulated Financial Institution operating in the Republic of Ireland (Insurance / Assurance Co., Bank, Building Society, Credit Union, Credit Card Company)/Correspondence from a Government Department / Body).

Proof of Residency documents required include tenancy agreement, employer letter, P60, Statement of Payments/Benefits from Dept. of Social Protection. Applicants on Tourist or Study visas do not qualify.

Revenue statements demonstrating tax domicile, Employment Detailed Summary, statement of payments/benefits from the Department of Social Protection.

PPS Number for each household member.

Employer Reference for all members of the household over 18, this letter should confirm you are currently an employee of the organisation, your address, contract length, start date and salary.

Landlord Reference for all members of the household over 18, this should contain a contact phone number and email of the Landlord. It should be dated within the previous 6 weeks It should also state the duration of the tenancy (start and end date) and the current rent paid. Copy of Lease Agreement should be provided, if you are renting.

Bank Statements for all members of the household over 18. Please ensure that we are in receipt of THREE months bank statements from all Adult applicants. Please highlight on the bank statement where the last three month rental payments have been made.

We advice you to have these documents ready when you register your interest. If your application is successful, you will have 72 hours to upload your documents and complete the application process. If you do miss this deadline the invitation to participate in the lottery will be revoked.

The following is a list of acceptable proof for each document you will be asked to provide.

Proof of ID for each household member, including children, documents required include Proof of ID (Current Valid Signed Passport/Current Valid Passport Card/Current Valid Travel Document/Current Valid EU/EEA Driving Licence– must contain photograph (Irish Provisional accepted)/Current EU National Identity Card).

Proof of Address documents required include (Utility Bill e.g. telephone, mobile, gas, electricity, heating, oil, waste collection (where a utility bill is a first bill, a second form of address verification is required)/Correspondence from a Regulated Financial Institution operating in the Republic of Ireland (Insurance / Assurance Co., Bank, Building Society, Credit Union, Credit Card Company)/Correspondence from a Government Department / Body)

Proof of Residency documents required include tenancy agreement, employer letter, P60, Statement of Payments/Benefits from Dept. of Social Protection.

Employer Reference for all members of the household over 18, this letter should confirm your salary, address and start date and if you are an employee for each member.

Landlord Reference for all members of the household over 18, this should contain a contact phone number and email of the Landlord. It should be dated within the previous 6 weeks It should also state the duration of the tenancy (start and end date) and the current rent paid. Copy of Lease Agreement should be provided, if you are renting.

Bank Statements for all members of the household over 18. Please ensure that we are in receipt of THREE months bank statements from all Adult applicants. Please highlight on the bank statement where the last three month rental payments have been made.

To demonstrate you income please provide the following documents;

Letter outlining how you reached your Household 'Net Income' calculation including all household members over 18 years.

If employed: Employment Details Summary (formerly P60) for the most recently completed tax year.

Last three months’ payslips.

Statement of Liability (p21).

If self-employed– a minimum of 1 year’s accounts, along with an up-to-date tax balancing statement and preliminary tax receipt.

Social Welfare Income – documentary evidence of all social insurance and social assistance payments, allowances and pensions being received by members of the household. As income of household members over 18 is also included in the assessment for qualification, evidence of payments to these household members is also needed.

The deposits for each unit type will be one months rent less 50 euro.

Individual properties are unfurnished to allow residents to furnish them according to their own taste and to provide below market rents. However, the following items are included;

White goods (fridge-freezer, dishwasher, oven & hob, microwave, washer-dryer)

Roller blinds, with blackout blinds in bedrooms.

Flooring – laminate flooring throughout, except bathrooms, which are tiled.

You should be aware that all utilities (electricity, internet, telephone, etc.) will need to be set up by the resident

Provided there are no issues with breach of tenancy or rent arrears, after six months in occupation you will have a tenancy of unlimited duration, subject to you complying with your tenancy obligations and the unit continues to meet the needs of you and the people living with you as it relates to the number of bedspaces and the size and make up of the occupants.

These properties are a long-term rental option that offer security of tenure.

Applications are assessed at point of entry. If for example, after you’ve been allocated a property your household income increased above €59,000 outside Dublin and above €66,000 within Dublin you would still be entitled to continue renting the property.

Affordability is based on the rent being no more than 35% of your Net Income, this is one of the core eligibility criteria for the scheme and will be used to initially stream applicants into the lottery. Applicants successful in the lottery will be asked to document their Net Income calculation as part of the information required to move to the next phase.

If we have insufficient expressions of interest from applicants who meet the affordability criteria we may open a lottery for applicants in excess of this figure. However they will be asked to provide details of their rent history for the previous two years (that they have paid a similar or higher rent) and to demonstrate they have not defaulted on rent in order to assess their ability to pay a higher percentage of Net Income as rent.

The lottery system is run once the advertising of the properties has ceased. This is operated by an external agency with a full audit trail for transparency. The lottery will create, at random, a list of all applicants and applicants are contacted from the top of the list and invited to submit their documents within 72 hours.

Yes, applicants can apply for multiple schemes. However, if your application is successful for more than one scheme, you can only accept one offer.