Building Equity into Affordable Rental Housing
Renting Partnerships overcomes racial and economic inequities in property ownership and wealth. Collective ownership and resident participation in management develops unity in the community & generates financial assets for low income households.
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1. Title to multifamily housing is held by a 501.c.3 corporation that takes it out of the market and keeps it affordable for future residents while providing support in management.
2. Residents earn financial credits as they fulfill commitments to stay at least five years and participate in upkeep and community meetings. 3. Savings accrue on the costs of vacancy and turnover maintenance. 4. Resident credits vest after five years when they can be withdrawn as cash and used to weather emergencies or pursue long term goals. Credits are worth up to $4,000 in 5 years, $10,000 in 10 years and continue to build indefinitely. |
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Independent reports demonstrate Rental Equity works: reasonstobecheerful.world/cincinnati-renters-build-equity-with-each-payment/
Our biggest challenge is finding loans and grants to purchase and rehabilitate existing housing. YOU CAN HELP by making an investment in our revolving loan fund and receive your principal back. Leave a message on our service at 513 385-3331 or contact Margery by phone or email. |
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The Avondale (Cincinnati) neighborhood's Quality of Life Plan makes Rental Equity a key strategy. Announcing the completion of four units on Chalfonte Place in Avondale.
