Takeaways:
- Denver landlords can receive financial incentives of up to $1,600 in repairs and rent if there is a vacancy.
- More than a dozen cities in the Denver metro area have contributed $52,000 to recruit landlords.
- 53 landlords have showed their interest in taking part in the program.
Areas throughout the country are seeing skyrocketing rent making it increasingly challenging for low-income and homeless individuals to get back on their feet.
Denver is one city that’s particularly eager to change the paths of those individuals by incentivizing property managers and landlords who are willing to lower their rent for the opportunity to give a home to someone in need.
The Denver Metro Mayors Caucus, Brothers Redevelopment, Metro Denver Homeless Initiative and Colorado Housing Connects have all partnered for a program that will pair qualified individuals with a participating landlord. The program is particularly helpful for homeless veterans who have previously had a difficult time finding and securing a space.
More than a dozen cities in the Denver metro area have aided in the supply of $52,000 to recruit landlords willing to participate in the program. Landlords are asked to accept rental assistance vouchers for the homeless, which is fairly uncommon due to the high-stakes rental market, where some areas are seeing a 2 percent vacancy rate.
A screencap from Atlas Real Estate Group’s website.
The Atlas Real Estate Group in Denver is one group lending a big hand by offering more than 200 of its 900 apartment units. As more private companies pledge money, Atlas said it will match the contribution up to $5,000.
The fund is expected to grow as more municipalities set aside funds for participation. The program has about 53 landlords interested so far.
Landlords participating in the program will receive financial incentives through the Regional Incentive Fund for up to $1,600 in repairs and rent if there is a vacancy.
The Metro Denver Homeless Initiative released a report by The Denver Foundation this past spring that documented the community opinions about homelessness in the region and what could be done about it.
Of those surveyed, only 9 percent believed that homelessness was an extremely severe issue in the community; however, the lack of affordable housing was an extremely severe problem, according to 17 percent of respondents.
