Renting Partnerships is a nonprofit organization that organizes and operates affordable long-term rental housing so that low income households develop both social and financial assets. We call the model Dividend Housing because people can build a nest egg by investing their time and effort in creating a safe, attractive, and stable community where everyone is treated with respect. Residents participate in management to create a beautiful living environment and offset budgeted expenses. Money other housing providers spend on vacancy, turnover and administration is converted into financial credits for each household. Decision making is participatory and strategies for resident involvement in planning, policy development, problem solving and conflict resolution are part of the model.
A sense of ownership and pride in a home preserves property values, strengthens community and helps many people improve their social and economic status. But, owning and maintaining a home is risky - or impossible - for people who don't have resources for emergencies. Tenants have little or no control over how long they can stay in their home or management decisions that affect their quality of life. Renting Partnerships is a third choice which allows people to build community and financial assets without having to buy and sell property.
Renting Partnerships model works by adding value to the operation of rental housing. Residents commit to stay at least five years, pay rent on time, and participate in monthly meetings and the upkeep of common areas. Their contributions result in saving money that landlords typically spend on vacancy, marketing, turnover and leasing apartments. As each household fulfills these measurable commitments, they earn financial credits which can accrue to as much as $10,000 in ten years.
how you can help
Renting Partnerships seeks socially conscious partners to fund acquisition and rehabilitation of housing in affordable neighborhoods. We will master lease from property owners, operate the housing and guarantee a return on investment of up to 3%. Our partners may also receive tax benefits. This approach keeps rents affordable because we do not have to cover debt or high rates of return.
Renting Partnerships is a 501-c-3 nonprofit organization. Our tri-partate board is made up equally of residents, potential residents and supporters. The directors establish the mission, oversee development and fulfill our legal, ethical and financial commitments to partners and residents. We fulfill our duty of stewardship by providing training, information and management services to the resident association in each housing community.