With HAP rates increasing to 35%. Are some landlords are passing up a great rental opportunity?

KPM Group - Property Management Company Ireland - House Prices continue to rise

THE HOUSING ASSISTANCE Payment (HAP) discretion rate is to rise to 35% from next month meaning that local authorities can now pay up to 35% – up from 20% – more than the current set HAP rates, which differs between local authorities.

What is HAP?

The Housing Assistance Payment (Hap) scheme has played a vital role in housing eligible families and individuals and latest figures show that over 100,000 Hap tenancies had been set up since the scheme commenced. You can read more about HAP in detail here.

Are some landlords passing up a great rental opportunity? 

Many landlords don’t want to enter into the HAP scheme which is strange because technically the HAP scheme/rent allowance should be attractive to a landlord. Granted there are a few hoops to jump through in order to qualify as a landlord who can apply for HAP rentals, such as tax clearance and other prerequisites which can be found here.

If a landlord is successful, then the council pays the landlord directly, every month, straight into their bank. 

It is hoped that these new increases in HAP support will bring more landlords into the HAP market and help deal with the current housing crisis. 

Property Management Company

If you are a landlord in need of assistance, then please don’t hesitate to get in touch today and a member of staff will be happy to help in any way we can. With over 25 years experience in property management in Ireland KPM Group is one of the leading property management companies in Ireland.

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