Local Rental Owners Collaborative (LROC)
The Los Angeles Local Rental Owners Collaborative (LROC) was created to provide much-needed financial assistance, tools, and resources to local rental owners in South Los Angeles — especially in communities impacted by COVID-19 and the region’s housing affordability crisis. The program will benefit local rental property owners by providing:
- Rental relief grants to off-set rental income loss
- Financial consulting
- Connections to local, state, and federal relief programs
- Access to resources that can help add value and/or reduce costs and increase profitability over time, so you can maintain your assets for years to come
- One year of Avail Unlimited Plus—free of charge—to list units, screen tenants, and collect rent, all online
Sources
- https://lalroc.com/
- https://info.avail.co/local-rental-owners-collaborative
- https://chanzuckerberg.com/newsroom/local-rental-owners-collaborative-launches-in-south-los-angeles-to-preserve-housing-and-prevent-tenant-displacement/
- https://www.huduser.gov/portal/pdredge/pdr-edge-trending-092121.html
Last updated: Nov. 8, 2024
Program details
City: Los Angeles-Long Beach-Anaheim, CA Metro Area
Program geography: Zip-Code Targeted
Entities involved: Foundation, Non-Profit Organization
Market Category: Low Cost Market Resources
Tool Category: Support for-profit Owners - Buy Rehab and Operate Existing Buildings
Tool Description: Technical Assistance
Year started: 2020
Building type: 2-20 units with priority for 2-5 unit buildings
Target tenants: at or below 80% AMI
Affordability restrictions: Yes. Owner must agree to keep rents are affordable at 80% AMI.
Funding description: Chan Zuckerberg Initiative (CZI), Roy + Patricia Disney Family Foundation (RPDFF), Coalition for Responsible Community Development (CRCD), Avail (a part of realtor.com®), Enterprise Community Partners
Funding sources: Philanthropic/Foundation