Looking for Housing?
Did your landlord sell your place?
Did your rent double?
Does your staff need housing?
The Housing Works Initiative matches property owners who are willing to convert from short-term vacation rentals to long-term leases with people working in Summit County who are struggling to find year-round housing. If you are a person looking for a place to live and are a year round working local family or individual, please contact FIRC at firstname.lastname@example.org.
To qualify are you:
- Locally employed year-round in Summit County
- Housing Works Initiative approves application based on rent to income ratio (RTI). For an applicant to be approved, he/she must demonstrate an RTI below 45%. For example, an applicant seeking a 2-bedroom apartment at $1800/month must have an income of $4000/month or greater (45% of monthly income is going to rent).
- Able to sign a one-year lease
Benefits of the Program Include:
- Lower move-in costs: you only have to pay the first month’s rent and a $1000 deposit to move in, then the last month’s rent will collected in small payments over the next 12 months.
- Long-term housing options
- Access to community resources through FIRC.
Background Information on the Initiative
Through a collaboration between The Summit Foundation and the Family & Intercultural Resource Center (FIRC) this pilot program will work to provide 45 new housing options for working families.
“The goal of this program is to create new long-term housing inventory for working families,” said Tamara Drangstveit, FIRC Executive Director. “We set the household income limits higher than other workforce housing because we are really hoping to help professionals who work for the school district, first responders, the hospital or managers in the community,” said Drangstveit. “We don’t want Summit County to turn into other resort towns, where our local workforce has to commute from other towns. We want Summit to stay local and we believe this program can be part of the solution.”
“While the workforce housing developments are essential to our community, this pilot project compliments those efforts and puts people in homes quickly.” said Jeanne Bistranin, Executive Director of The Summit Foundation. “We will be closely monitoring what works and what needs to change in the future, so we can make this as effective as possible for both tenants and landlords.”
History of the Housing Crisis
Over the last 2 years, the decrease in long term housing options, an increase in population, and an increase in rents have led to Summit County’s housing Crisis. Locals are often faced with spending 40-70% of their income on housing. Families who have to spend more than 30% of their income on rent are at risk of not being able to pay for other essential needs, such as child care, food, and utilities. The high rents and lack of housing availability in Summit County have forced many families to downsize to smaller apartments or share with extended family or roommates, which is often unhealthy for families and children. Other locals who would like to live in Summit are being forced to seek housing in Leadville, Kremmling, or Park County and commute in to work and school. And many local employers are struggling to hire and retain qualified employees because cannot find housing to start with, or choose to leave the County because it is too difficult to make ends meet.
Property Owners Needed
- We are looking for property owners interested in converting a short-term rental to a long-term rental for local working families
Benefits of the Housing Works Initiative Include:
- discounted full service property management
- stable qualified tenants
- Philanthropic way to contribute to keeping Summit County’s working class living local