Margery Spinney created the concept of Renter Equity at Cornerstone Corporation for Shared Equity. With Carol Smith as the community manager, they implemented it in three affordable housing projects, totalling 59 units, developed between 2002 and 2012. During this period, the residents built over $140,000 in equity credits even though incomes averaged less than $20,000. A third party evaluation of Renter Equity during their years at Cornerstone was conducted by the Corporation for Enterprise Development (CFED) and published by the Ohio Housing Finance Agency in 2013. The report confirms -
- "Positive impact on residents' lives in terms of their physical and financial security, their optimism about the future and their ties with their surrounding community."
- "Property management costs similar to comparable Low-Income Housing Tax Credit properties in the neighborhood, even after taking into account the renter equity credit costs."
- "A majority of residents stay five or more years."
- Click here to see the report or to find other media reports about these projects.
Our work is discussed in Yes! magazine.
This home was rehabilitated for Renting Partnerships in 2015 by the Coalition for Sustainable Communities.
More: Current Initiatives
help build community wealth!
We need you to help build the health and wealth of people who need affordable housing. You can make a gift or no-interest loan to Renting Partnerships. All donations are tax-deductible. Loans become part of a pool of funds invested in housing projects. Investors are able to receive principal back as new investors join. For more information on how this works, please call or email the Director. Margery Spinney: firstname.lastname@example.org - Phone: 513 368-5913
Renting Partnerships: Equity for Renters