Rescue A Rental Programs

An incentive program for owner-occupant buyers who want to purchase and transform rental properties within the designated Program Area.

 


 

Developer/Property Conversion Program

Up to $40,000 in acquisition and home improvement assistance (if qualified)
• 1%, 7-year payback period; no penalty for early payback
• $4,700 in Home Buyers Assistance to owner occupant buyer

Qualifications for Developer:
• Must buy property within the Rescue a Rental Program Area, or must buy property not approved for Certificate of Suitability within the UNPA Target Area
• Must have experience in the complexities of rehabilitation
• Must submit application, signed repurchase agreement, rehabilitation and financial plan to UNPA subcommittee for approval
• Must commence working on converting and marketing property within 60 days of closing
• Must make noticeable improvements to property within one year of closing
• Must complete renovation and sell property to owner occupant buyer within 3 years of closing

Renter to Owner Occupant Program

$4,700 in Home Buyers Assistance
– and/or –
Up to $20,000 Home Improvement Loan (if qualified) for approved exterior and interior renovations • 1%, 10-year payback period; no penalty for early payback

Qualifications for Homebuyer:
• Must commit to being an owner occupant
• Must buy property that has been a rental for one year or more within the UNPA Target Area