South Lake Tahoe homeowners can receive up to $10,000 for renting to locals

SOUTH LAKE TAHOE, Calif. - Lease to Locals, a new program in South Lake Tahoe, is a pilot incentive program that will connect property owners to locals seeking long-term rentals as the community faces a critical shortage of workforce housing.

Previously, the South Lake Tahoe City Council approved an agreement with Truckee-based Landing Locals to administer the program just as they have done in the town of Truckee. Landing Locals is a start-up company specializing in mountain-community workforce housing.

The program in South Lake Tahoe will be called Lease to Locals and its goal is to convert some of the vacant homes and rooms in the community to longer-term rentals for the local workforce and get rewarded financially for joining the program. The City will pay the landlord for entering into a 12-month lease with renters who meet the income criteria.

"The housing crisis in South Lake Tahoe is at a critical juncture," said South Lake Tahoe City Manager Joe Irvin. "We have been evaluating all options and working with our partners to create new, innovative programs to ensure we can provide sustainable and long-term housing to our locals.”

The Town of Truckee's version of Lease to Locals, Workforce Grant Program, has placed 82 local employees in housing since initiating it just over one year ago. Seana Doherty with Truckee housing said they are very pleased with the results.

South Lake Tahoe's program details:

To qualify for the Lease to Locals incentive program, the property or room must be located in the city limits of the City of South Lake Tahoe and must be converting into a new long-term (12+ month) lease with households averaging less than 125 percent of the area median income ($79,688).

Property owners will need to sign a lease with qualifying tenants and undergo lease checks to ensure they are in compliance. For each tenant or child placed into a rental, property owners can earn up to $2,000 with a maximum grant of $10,000 per property. To ensure affordability, there is a cap on the monthly rent that property owners can charge, which varies based on the size of the unit. See the chart above for full details.

To learn more about the Lease to Locals program or to apply for an incentive payment, visit www.LandingLocals.com/SouthLakeTahoe or call (530) 539-1600.