Renting Partnerships offers a democratic and sustainable model of affordable housing with opportunities for low income households to build strong communities and wealth.
Renting Partnerships provides a new housing choice for low income renters seeking a respectful community, stability, a meaningful role in management of their housing and a way to build financial equity.
Households earn financial credits monthly as they fulfill measurable agreements, such as paying rent on time, attending the monthly meeting, and completing work assignments. Credits can accrue to over $4,000 in five years and continue to build indefinitely.
Renting Partnerships reserves income budgeted for vacancy and turnover and uses it to make payments to households that stay for five or more years. The household does not have to leave to receive a payment. Their financial credits help them weather emergencies and meet long term goals.
We seek social impact grants, loans and private investment from socially concerned individuals and organizations to acquire and rehabilitate buildings of from 2 to 20 units. Because partners accept below market returns, we can keep rents in the range of $600 to $700 per month. This is affordable to households living on $20,000 to $35,000 per year without subsidy.
Property ownership is structured so that investors can receive dividends up to 3% per year. They can receive their capital back through the sale of shares in a real estate investment trust, Dividend Housing.
Renting Partnerships funds all operating expenses and reserves from rental income. Households can stay for a life-time and receive financial credits. The property itself is never sold so that it is permanently affordable.