OUR MISSION
Renting Partnerships is a 501.c.3 nonprofit corporation that eliminates barriers to wealth building for lower income, long- term renters who cannot build equity through home ownership. Renting Partnerships acquires and rehabilitates existing housing and provides participatory management services so that residents are assured that their housing will not be sold, that rents will remain affordable and that they can earn financial credits by saving money that would typically be spent on vacancy and turnover. We provide opportunities for charitable individuals and organizations to finance development in order to keep rents about $400 below market rate.
RENTAL EQUITY HOUSING
Rental Equity 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 Rental Equity 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 Rental Equity 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.
