Local authority has potential to acquire 361 properties with tenants in-situ

UP TO 650 expressions of interest have been made to South Dublin County Council for potential acquisitions of property in the tenants in situ scheme.

The scheme involves home owners selling their property to the local authority for its housing stock.

Cllr Darragh Adelaide (PBP) asked the council for details of the scheme, including the total number of requests received by the council, the total number of homes bought under the scheme, and the average wait time from start to finish.

In response, SDCC said: “Since the commencement of the tenant in situ scheme to date, 650 expressions of interest have been received for potential acquisitions.”

The current status of the expressions of interest cases are that, 114 properties have been purchased, 105 properties are sale agreed/at conveyancing, and 49 properties have completed due diligence checks and are at valuation/negotiation stage with a view to purchasing.

Further to that, 113 properties at various stages of due diligence and pre-purchase checks.

However, 269 properties are not proceeding due to various issues, which include offers of alternative accommodation made to tenants, properties not being suitable, tenants no longer in-situ or miscellaneous other reasons.

“Time-frames for completion of conveyance can vary. Individual property purchases can be delayed for a number of reasons such as the owner not having full legal title, planning issues, outstanding property taxes or general contractual conditions of sale not in place. In 2024, the average completion time from the date of sale agreement to close is 30 weeks,” said SDCC.