Landlord Risk Mitigation Fund
The City has established a Landlord Risk Mitigation Fund (the “Fund”) to support Tallahassee landlords that agree to partner to provide housing stability for vulnerable and at-risk tenants. The Fund is designed to provide some assurances to local landlords that rent to tenants facing eviction or are ending homelessness. Participation in the Fund represents a partnership between property owners and the City, tenants and housing service providers. In addition, the program supports landlords and tenants with individualized community-based services and consultations to reduce tenant turnover and avoid costly and detrimental evictions.
This Fund was approved for implementation by the City Commission on December 8, 2020, to support local housing stability interventions and initially earmarked $250,000 for the program.
In addition to direct financial assistance to landlords, the program supports participating landlords with legal assistance for conflict resolution, eviction diversion and support services for tenants in crisis. The program partners with the Big Bend Continuum of Care (BBCoC), United Partners for Human Services (UPHS), Legal Services of North Florida, Legal Aid Foundation, and other community organizations.
Eligibility
- Be a landlord with rental units located within the city limits of the City of Tallahassee
- Not be a non-profit organization or housing authority
Expectations
- Provide decent and safe housing
- Lease without regard for a tenant’s race, religion, gender, disability, familial status, or national origin in accordance with the Fair Housing Act
- Charge rental rates that are affordable for moderate and/or low-income tenants as defined annually by the Florida Housing Finance Corporation (see chart for SHIP Combined Income and Rent Limits; new SHIP limits are announced each April)
- Be willing to lease to vulnerable tenants, including those that are ending their homelessness, those with a prior eviction and/or criminal record, or those directly impacted by an economic crisis or disaster
- Be willing to partner with local human service organizations for assistance with tenant referrals and case management as needed
- Participate in free conflict resolution and mediation if necessary in collaboration with community partners and exhaust all options to resolve conflicts or mediate prior to pursuing a formal or informal eviction
- Agree to provide tenant at least 30 days’ notification (in addition to Florida Statute 83.03 minimum) of termination of lease after all other avenues are exhausted
- Agree to not provide negative references that prevents a tenant from gaining future housing
The Fund is designed to alleviate some of the financial risk that a landlord may assume in leasing to vulnerable tenants. The money held in the Fund directly impacts the number of landlords that can be approved for participation and coverage. This program is NOT a recurring rent assistance program, nor is it meant to supplant traditional security deposits or a landlord's private insurance. For participating landlords, the program provides the following allowable incentives and claims:
- Incentives
- $500 one-time bonus for each unit newly leased to someone ending their homelessness
- Claims
- Up to $2,000 in excess of the security deposit to cover a portion of lost rent from a current tenant in crisis
- Up to $1,000 in excess of the security deposit to cover damages beyond normal wear and tear, or for unforeseen expenses to maintain habitability