Properties
We offer longer-term residential rental leases, 24 to 36 months, with stable rents over the lease period. We consider the resident's income when setting the lease rate. We strive to have the rental rate at or below 80% of the fair market value rent and at or below 30% of the resident's earned income. We use the Comparison of Area Rent Limits published by the United States Department of Housing and Urban Development to judge fair market rents. Resident income limits are gauged against the Area Median Income Table, also published by the United States Department of Housing and Urban Development. As a resident's income increases, their rent remains stable for the lease term allowing more of their income to go toward the down payment for their own home.
Our buildings are micro-communities unto themselves. The residents are carefully screened and references vetted. We want the residents to feel safe and secure in their homes and to feel a sense of ownership in their building. We maintain the properties to the highest standards and strive to partner with each resident to create a place where they, and their children, can flourish. Backyards are used as common spaces with gardens and play areas appropriate to the resident mix. Pets are allowed. Each adult resident is required to sign a Memorandum of Understanding outlining their role and responsibility as part of that building's community.
Our residents are the teachers, active military, bank tellers, child care workers, social service agency staff, wait staff and retail employees that support all of us in our daily lives. Our model allows us to be flexible with the rent for any given unit to ensure that the resident is not housing burdened. This is a hand up, not a hand out. For an appropriate resident, the rent for a given unit may be priced as low as 50% of the fair market rent for a comparable unit.
We envision our buildings to be "homeowner incubators" with a goal of moving residents through our rental units and into homes of their own within five to eight years.
Properties Pages and Memorandum
Visit our available properties by visiting the pages below.
Download our Memorandum of Understanding.
