The Landlord Risk Reduction Fund is an innovative pilot product that LHOP offers to landlords who help reduce housing insecurity in Lancaster. The program is managed by the Housing Equality and Equity Institute through a collaborative partnership with community organizations and landlords dedicated to reducing and ending homelessness.
This program makes it easy for landlords to successfully give back to the community while protecting their bottom line. LHOP will assume a portion of the financial risk landlords take when renting to someone with high barriers to obtaining housing. During the first two years of tenancy, LHOP will pay up to 2.5 times the monthly rent if a participant is evicted or causes property damages in lieu of a security deposit.
The goal of this program is to reduce landlords’ real and perceived risk of renting to people with high barriers to housing and reduce the high upfront cost of obtaining housing.
This program is currently in its pilot program revisit this section, as we will be updating program details soon!