RENTING PARTNERSHIPS
Renting Partnerships is a participatory management system for affordable housing. Families collaborate in management and maintenance to operate efficiently and build wealth. They become more stable, financially independent and invested in their communities.
A third option
A sense of ownership and pride in a home preserves property values, strengthens the community and helps people improve their social and economic status. However, homeownership is risky or impossible for people without financial assets. As tenants, though, they can't control how long they can stay in their home. They have little voice in management and maintenance decisions. Renting Partnerships is a third choice that gives people a way to invest in a home and build assets even though they are not able to buy and sell property.
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Renting Partnerships works with investors, owners and donors to provide permanently affordable housing. At the same time, we organize prospective residents and establish policies and procedures that lead to financial efficiencies. These include long term leases, a resident association engaged in policy and problem solving, and work assignments. Each household earns credits monthly as they fulfill their commitments. Money budgeted for vacancy and turnover is saved and reserved for payments. Households are eligible for payments after five years.
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Our work is discussed in Yes! magazine.
http://www.yesmagazine.org/issues/good-health/6-citites-designing-for-health-20160111 |
This home was rehabilitated for Renting Partnerships in 2015 by the Coalition for Sustainable Communities.
More: Current Initiatives |
Renting Partnerships copyright 2016
