OUR MISSION
Renting Partnerships eliminates barriers to wealth building for lower income, long- term renters who cannot build equity through home ownership. Our unique model, Dividend Housing, engages residents in participatory management which offsets expenses in the operating budget to build community and financial equity. Residents have lifetime tenure, unless they move or fail to satisfy lease commitments.
DIVIDEND HOUSING
Dividend Housing is owned by a nonprofit organization representing people seeking new economic choices to overcome systemic racism and inequality. The nonprofit assures that legal and financial obligations are met and that housing quality, affordability and participatory management practices are sustained for future residents.
Resident households, collectively, fund the operating expenses of their particular community. These include the costs of insurance, taxes, maintenance, administration, orientation/resident meetings, and mortgage debt, plus a reserve for future capital repairs. Funds are also reserved for projected vacancy and turnover. The resident community develops operating policies, including house rules, procedures for problem solving, and maintenance priorities. Every household participates in upkeep of common areas and residents covenant to treat each other with respect.
Occupancy agreements include a contract to earn financial credit each month that the rent is paid on time, an adult member attends the monthly meeting and responsibilities for upkeep are satisfied. Credits can be worth as much as $10,000 in ten years, but they can accrue indefinitely. After a household stays for five years, funds in the vacancy and turnover reserve are used to make financial payments upon request. These payments help households weather emergencies and meet long term financial goals.
Renting Partnerships also operates a social investment fund to help finance Dividend Housing development. We acquire and rehabilitate existing housing to revitalize neighborhoods in Cincinnati and keep rents about $400 below market. Please contact us to find out how you can invest and receive a modest return while helping create an economy that works for all.
Resident households, collectively, fund the operating expenses of their particular community. These include the costs of insurance, taxes, maintenance, administration, orientation/resident meetings, and mortgage debt, plus a reserve for future capital repairs. Funds are also reserved for projected vacancy and turnover. The resident community develops operating policies, including house rules, procedures for problem solving, and maintenance priorities. Every household participates in upkeep of common areas and residents covenant to treat each other with respect.
Occupancy agreements include a contract to earn financial credit each month that the rent is paid on time, an adult member attends the monthly meeting and responsibilities for upkeep are satisfied. Credits can be worth as much as $10,000 in ten years, but they can accrue indefinitely. After a household stays for five years, funds in the vacancy and turnover reserve are used to make financial payments upon request. These payments help households weather emergencies and meet long term financial goals.
Renting Partnerships also operates a social investment fund to help finance Dividend Housing development. We acquire and rehabilitate existing housing to revitalize neighborhoods in Cincinnati and keep rents about $400 below market. Please contact us to find out how you can invest and receive a modest return while helping create an economy that works for all.
