Renting Partnerships
Ohio
Cincinnati
215 E. 14th Street
45202
(513) 368-5913
Yes
16
16
Tripartite board is focused on low-income households. The Board includes 1. residents and 2. advocates for black households and other groups seeking new economic opportunities and 3. professionals with expertise in affordable housing, management and finance. The CLT transfers rights and responsibilities for participation in management decisions to each household through a legal agreement included in the lease, the Resident Association Membership Agreement. The agreement establishes the collective right of members to adopt operating policies for the development in which they live. Every household has a vote in decisions at monthly meetings and responsibilities for upkeep of common area. The CLT's lease also includes a unique Rental Equity agreement: in return for fulfilling these responsibilities, each household earns financial credits that vest after they stay five years, growing to $10,000 in ten years and continuing to grow as long as they stay. Low vacancy and turnover expense offsets the cost of payments to residents.
Founded in 2015 to embed our innovative rental equity management system in a legal structure removed from market forces.
Coop-Cincy