The state is exploring a program that gives people a cash incentive for paying rent to offer renters some of the financial incentives homeowners receive.
A Colorado state program helps renters build equity for paying their rent on time. As Roshan Abraham reports in Next City, the program gives renters a cash stipend that amounts to roughly 2 percent of their rent every time they pay rent. The stipend accumulates in a card and can be transferred to a checking account.
The program is part of a 2022 state affordable housing package, Proposition 123, that included “a unique program that would allow tenants of new affordable housing financed by the initiative to be paid the ‘equity’ for the homes they rent, in theory giving them some of the financial benefits a homeowner might get.”
Colorado’s Tenant Equity Vehicle Program, which has not been fully developed, aims to help renters build equity and save up emergency funds. “Under the plan, the state provides cheap loans to developers to build affordable housing. As developers pay back the interest on those loans, the state forgoes profits, instead routing some of the interest payments directly to tenants. In theory, this means the often-predatory element of private debt has been removed from the equation.” So far, smaller, private pilot programs are underway in the state, which could serve as a model for the statewide program.
FULL STORY: Colorado Is Pioneering A Way To Let Renters Earn Cash Back for Paying Rent
NYC Bans Charging Tenants Broker’s Fees
Landlords can no longer tack on thousands of dollars in fees to new tenants to pay brokers who show rental units.
Spiking Rents Putting More People at Risk of Eviction
Housing costs across the country are becoming more and more unaffordable for low- and moderate-income households, a trend that began even before the COVID-19 pandemic.
Rents Rose Between December and January
After dropping to a three-year low, U.S. rent costs grew in many major cities.
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.
Paris Bike Boom Leads to Steep Drop in Air Pollution
The French city’s air quality has improved dramatically in the past 20 years, coinciding with a growth in cycling.
Why Housing Costs More to Build in California Than in Texas
Hard costs like labor and materials combined with ‘soft’ costs such as permitting make building in the San Francisco Bay Area almost three times as costly as in Texas cities.
San Diego County Sees a Rise in Urban Coyotes
San Diego County experiences a rise in urban coyotes, as sightings become prevalent throughout its urban neighbourhoods and surrounding areas.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
Alamo Area Metropolitan Planning Organization
City of Santa Clarita
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service