Secure Tenancy Affordable Rental Scheme - recent updates

On 9 March 2026, the Housing Agency (HA), the Government body responsible for administering the Secure Tenancy Affordable Rental Investment (STAR) scheme published a new policy document for the scheme, the first update to the scheme policy document since 1 August 2023. The new policy document includes key changes to how the STAR scheme operates.

These policy changes are detailed in the new template STAR Agreements, published by the HA in November 2025:

1. draft Secure Tenancy Affordable Rental Equitable Trust Agreement (the ETA); and
2. draft Priorities Agreement

The ETA replaces the Equity Participation Agreement which was the previous form of agreement entered into between the HA and operators under the STAR Scheme (Operators). The Priorities Agreement is a new form of agreement to be entered into by the HA, the Operator and lenders.

The new policy document and the draft agreements introduce important changes to the STAR scheme including a change in the nature of the HA’s interest in the Cost Rental units and the introduction of an automatic renewal of the term of the Cost Rental designation. In addition, the previously published 31 December 2027 expiry date for the STAR scheme has been removed.

Background – What is the STAR Investment Scheme?

The STAR scheme was introduced in August 2023 to support the delivery of housing as part of the Irish government’s ‘Housing for All’ strategy. The objective the STAR scheme is to make residential properties available to eligible households at rents which are below market levels. These properties are known as “Cost Rental” dwellings.

Under the scheme, the Irish Government agrees to provide state funding, in the form of an equity investment, to Operators who undertake to deliver Cost Rental units. This investment is subject to the Operators meeting the scheme criteria and entering into the ETA with the HA.

Main Features of the STAR Scheme

The key characteristics of the STAR scheme are that, in return for the equity investment provided by the HA, Operators agree to:

1. grant protection to the HA over its equity share in the Cost Rental property, in the form of a legal inhibition;
2. provide the property on Cost Rental terms for 50 years; and
3. set rents at a level at least 25% below the market rent.