Introducing Lease to Locals South Lake Tahoe

Introducing an innovative new partnership and grant program, which offers qualifying South Lake Tahoe property owners up to $10k when they rent their homes long-term to local employees.

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How it Works

1

South Lake Tahoe property owners can earn up to a $10,000 grant for converting their property or room into a long-term rental.

2

To qualify, a homeowner must rent to tenants whose household averages up to 125% of the area median income.

3

Property Owners must sign a lease for a minimum of 12 months, and are subject compliance checks.

Grant Amounts and Rental Limits

Monthly Rent
Not to Execed
Maximum number of
Grants Per Unit*
Maximum Total Grant
Amount per Unit
Room or Studio
N/A
1
$2,000
1 Bedroom
$2,000
2
$4,000
2 bedroom
$2,500
3
$6,000
3 bedroom
$2,800
4
$8,000
4 bedroom +
$3,100
5
$10,000

* The maximum number of grants possible per unit is based on the size of the unit and number of tenants. For Example, a 3 bedroom unit can qualify for up to 4 grants ($8,000) if four qualifying tenants rent the property. If a 3 bedroom unit is rented to only 2 qualifying tenants, the property owner would only receive 2 grants ($4,000).

Frequently Asked Questions

The City of South Lake has a goal of funding innovative programs that unlock existing housing stock for local employees. This program is funded by ARPA dollars and administered by Landing Locals.

Any residential property in The City of South Lake Tahoe that is currently not being rented long-term qualifies. If you are already renting your property long-term it does not qualify for the grant. 

To qualify for the grant, you must own the property or be able to sign on behalf of the ownership of the property. You must also complete a w9 as the grant income will be issued a 1099.

Household income must not average over 125% of the area median income. For related or unrelated adults over 18, you can take the average of your household income, which cannot exceed $79,688 per year

 

The grant is dispersed to qualifying homeowners in two installments by the City of South Lake. One payment is dispersed upon lease signing, and one payment is dispersed at the when the lease has ended.

You can learn more about the specifics of the Lease to Locals program by viewing the program guidelines on the City of South Lake Tahoe’s housing page

Get more information about the program

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