The Empty Homes Loan Fund Scheme will loan up to £30,000 for repairs and maintenance on individual properties to help get them back on the rental market.
A proportion of the rent money will then be used to repay the loan.
The Empty Homes Loan Fund Scheme will be available from April. It was approved by members of the Policy & Resources Committee on Thursday 10 January.
The fund will initially prioritise elderly or vulnerable homeowners, properties in selected regeneration areas and ex-council properties which adjoin existing council properties.
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Councillors have also requested more information regarding a proposed scheme to offer loans to Registered Social Landlords (RSLs) for the development of affordable housing within Aberdeenshire.
£6m of loan funding has been supported by Scottish government grants and other subsidies as a move to deliver an extra 80 affordable properties in Aberdeenshire.
Committee chair, councillor Jim Gifford, said: "We understand there are similar schemes operating in other local authorities in Scotland and we would like to see some evidence about how they are working."
There are currently more than 7,000 applicants on the waiting list for council housing.
The £27.7m Affordable Housing Supply Programme, which aims to provide 196 new affordable housing units between 2012-15, is being funded by £7.7m from the Scottish government, £5.5m from the council and planning gain funds, and £14.5m from private finance.
(IT/GK)
