The Coalition has signalled it will eliminate the policy that sees people in nursing homes pay 40% of the rental income from their main home towards the cost of the care, reducing it to zero.
In theory this new incentive would bring many of the unused properties of the residents of care homes onto the market. Minister for Housing Darragh O’Brien said it is estimated between 4,000 and 8,000 properties were vacant. Minister O’Brien went on to say the government means to use “every lever that we can use to provide additional supply, both new or bringing existing stock back in to use”,
The Coalition has said it plans to rework the Fair Deal Scheme so there are “reduced disincentives to renting out and selling a home vacated when its owner enters a nursing home including a disregard of 60% of any rental income derived from the principal private residence and a 3-year cap on contributions on the sale of a home”. As well as “move to eliminate remaining barriers to older people utilising the Fair Deal scheme who wish to rent out their homes”.
This measure will hopefully ease the some of the supply preassures on the rental market.
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