Assurances for Property Owners Who Partner With the LACDA

Property owners are an essential partner in the County’s fight to end homelessness. According to a recent L.A. Times article, in Los Angeles County only 4.4% of apartments are vacant and available. As homelessness across the region increases and property owner participation in rental assistance programs decreases, thousands of families and individuals, including many military veterans, struggle to find opportunities to use their housing vouchers in the County’s competitive rental market, contributing to the broader homelessness crisis.

In an effort to increase the number of property owners participating in the County’s rental assistance programs, the Los Angeles County Development Authority (LACDA), which is located right here in Alhambra on Main and Atlantic, manages a program to support property owners in providing housing to those most in need. They continue to promote a business model intended to benefit property owners financially and provide enhanced customer services, while simultaneously increasing the number of rental units available to subsidized families. Several incentives are offered by the LACDA, including:

1. Sign-On Bonus for property owners upon execution of their contract;

2. Move-In Assistance covering an application fee of up to $50 per adult, per application, as well as security deposit (up to double the rent);

3. Utility Assistance to assist tenants with utility deposit and any past due amount upon first time move in;

4. Limited Furniture Assistance to assist families with refrigerator, stove, and beds;

5. Damage Mitigation for unit repairs. Up to $2,000 not covered by the security deposit to repair the rental unit following the departure of a subsidized family;

6. Vacancy Loss Payments with one month’s rent if the family vacates the unit without proper notice or is evicted for good cause; and

7. On-Time Payments and Reliable Rental Payments deposited directly to the property owner’s bank account.

All property owners within Los Angeles County who have available units are encouraged to take advantage of these incentives and rent their available units to voucher holders. Contact the LACDA today to learn more via email at HIP@lacda.org, or by calling (626) 586-1585.