Newstalk Newsletter

Joseph Conroy 10:08 Thursday 12 March 2015

A new housing scheme is looking for tenants to fill properties in some of the country's most prestigious areas at rents that are a fraction of the market price.

Camalot Property Management operates a property guardian service, and it is looking for new house-sitters. Rent for houses in Dublin 2, and 4 start at only 300 per-month, including bills and utilities.

In Dublin 6 and Dublin 1 this drops to 250, properties are also available in Galway and Cork for 150, and Limerick and Waterford for 140.

The idea is that the property guardian will prevent vacant properties from falling into disrepair.

The downside is a lack of security - you don't know how long the property will be available for, and you do not have the normal legal rights that tenants do.

The company warns that these properties may be awaiting demolition, renovation, sale, letting or redevelopment.

It estimates that there are 28,013 empty commercial buildings, and 223,152 vacant residential properties in Ireland.

Manager of Camelot for Ireland, Paul Cosnett discussed the scheme:

"There is a clear need for more rented accommodation in Ireland and there is also a rising vacant property issue that shows no sign of slowing down. Our vacant property management solution addresses both these issues."