The purpose of the initiative is to restore suitable properties to the required standard for rented houses. The local authority or AHB will agree with a property owner the specific works and associated costs on a case by case basis having regard to the condition of the property. Not all properties will require significant works to bring them up to standard. However it is recognised that others, especially those that may have been vacant for a longer period, may require more extensive repair. The maximum costs of repairs allowable under the initiative for houses/apartments will be €40,000, including VAT. As the property owner is paying for these repairs through an offset against rental income, it is in the interests of the property owner that repair costs are not excessive.