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.
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‘Complete Streets’ Webpage Deleted in Federal Purge
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The VW Bus is Back — Now as an Electric Minivan
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Healing Through Parks: Altadena’s Path to Recovery After the Eaton Fire
In the wake of the Eaton Fire, Altadena is uniting to restore Loma Alta Park, creating a renewed space for recreation, community gathering, and resilience.
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
Electric Vehicles for All? Study Finds Disparities in Access and Incentives
A new UCLA study finds that while California has made progress in electric vehicle adoption, disadvantaged communities remain underserved in EV incentives, ownership, and charging access, requiring targeted policy changes to advance equity.
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City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research