Renter Equity® is a one-of-a-kind three-tiered approach to moving families out of poverty through building Community, Wealth, and Individual Development.
From 2001 until 2016, our system largely operated as the wealth building component for families. This aspect is truly unique as it allows families the opportunity to earn up to $1,000 a year in credits which can be withdrawn after 3 years in the program. Since 2001, families have earned over $200,000 in equity, using funding from anything from paying for medical bills, paying off debt, furthering their or their childrens’ education and more. Two families have used their equity to purchase their first house!
While the program had many successes, in 2016, our team realized that we could add two key elements to the program to have a significant impact in reducing poverty. We set our sights on growing our program to serve 100 new families a year moving forward. To do this, we knew we needed to grow our community approach through asset based community development and working one-on-one with families to support them in achieving their own family goals.
Our goal is to provide residents with both a platform to achieve their goals, and a safety net through the debt cliff by offering equity and individual development and supportive services. In order to earn equity, residents pay their rent on time, complete a weekly community task and participate in community through attending a monthly community or development meeting.
We serve individuals who qualify as Low-to-Moderate income currently in the Cincinnati neighborhood of Over-the-Rhine.
- Protects Against Debt Cliff
- Invests in Individuals and Families
- Empowers Residents
- Strong Community
- Reduced Maintenance and Turnover Costs
- Longer Tenancy in Units
We can’t think of any.