Own a vacation home in Ketchum?

You could earn up to $18,000 by converting your property into a new long-term rental for local employees.

What is Lease to Locals?

The City of Ketchum has piloted an incentive program, called Lease to Locals, to unlock new rental housing opportunities for the local workforce. The program provides property owners generous cash incentives to convert their properties into seasonal and long-term rentals. The pilot program launches on Oct 1, 2022 and is funded through September 30, 2023.

How the Program Works

1

Verify property qualifies

The property must be located in the city limits of Ketchum and must not already be a long-term rental. This is defined as having had full-time tenants in the past 12 months, even if they were on a month-to-month lease.

2

Find qualifying tenants

All tenants must complete an employment verification form and work at least 20 hours per week for an employer based in the Blaine County. The max rent that can be charged is $3,500/month and the property can not be rented to immediate family members.

3

Sign a Lease

Property Owners must sign either a seasonal (5+ months) or long-term (12+ months) lease with a Qualified Household. See below for the grant amounts for property owners.

4

Complete full application

Landing Locals will provide property owners a full application which needs to be completed before the incentive can be dispersed. The funds will be paid in two equal installments — one at the beginning of the lease, and one at the end of the lease (within 60 days of each).

5

Compliance

The applicant must comply with midway and final lease checks to ensure they are in compliance. If they are found out of compliance, they may be disqualified from receiving additional incentive payments.

Incentive Amounts For Homeowners

1 Qualified Tenant 2 Qualified Tenants 3 Qualified Tenants 4 Qualified Tenants
Seasonal (5+ months)
$2,000.00
$4,000.00
$6,000.00
$8,000.00
Long Term (12+ months)
$4,500.00
$9,000.00
$13,500.00
$18,000.00

Frequently Asked Questions

Location: The Housing Unit must be located within the city limits of Kethcum ID. There are some exclusions including: Ketchum Light Industrial District and (from November 15th to April 15th) any avalanche zone.
Status: The Housing Unit must be a legally permitted dwelling unit and each bedroom in the property must have a door and window.
New Rental: The Housing Unit must have not already been leased as an existing long-term rental (unless through this Program) in the past 18 months.
Eligible Properties: The Housing Unit must be single-family homes, multi-family property, townhome, condo, or vacant room(s) in owner-occupied properties.
Property Condition: The Housing Unit must meet basic health and safety criteria as may be required per Idaho law and regulations.

 

Qualified Household: A qualified household must be made up of at least 50% Qualified Tenants and the household must not average more than $77,552 in annual income. Dependent children will count as one (1) additional Qualified Tenant for income calculations.

Qualified Tenant: A qualified tenant must be employed at least 20 hours per week at an employment site within Blaine County. Additional definitions of a qualified tenant include caretakers, children, retirees, individuals who are seeking employment, or those who are disabled and can not work due to their disability. Dependent children will count as one (1) additional Qualified Tenant.

A Qualified Tenant is an adult employed at least 20 hours per week at an employment site within the Blaine County, who is not of blood relation to the Property Owner. Additional definitions of a qualified tenant include caretakers, children, retirees, individuals who are seeking employment, or those who are disabled and can not work due to their disability.  Full details can be found in the program guidelines.

Rental rates are set by the property owner or property manager and there are no rent requirements for the program, however the rent can not exceed $3,500/month and we suggest properties be priced between $700-$1200/bedroom to meet the needs of the local community.

First create a renter profile with Landing Locals. Once we have that information on file we can send you prospective properties that fit your criteria.

Payments will be sent from the City of Ketchum, who is administering the program. Incentive payments are considered taxable income and property owners are required to completed an application and w9. Once the application is submitted to the City of Ketchum they are processed within 60 days.

Tell us more about your property, and we'll get in touch

Please only fill out this form if you are a property owner. If you are a tenant seeking housing, please visit our Renter Page.

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