LOS ANGELES (CNS) - Mayor Eric Garcetti today urged property owners to sign up for the city's Lease Up program, which matches landlords with tenants who need a home, with rent guaranteed by the government.
"For property owners, it's a dream come true. That rent is guaranteed to come to you each month without having to hit anybody up for it, without anybody missing a month," Garcetti said.
The program has added 1,200 homes since November, according to Garcetti.
People can sign up for the program at LeaseupLA.org
Jennifer Hark-Deitz is executive director of PATH, which operates the program., says "Matching property owners with ready to move in tenants providing market-rate guaranteed rents and housing for people experiencing homelessness. We do the work of finding a best tenant for each unit and provide what otherwise can be barriers to renting such as a deposit or income requirement. We provide a substantial holding fee, processing all of the paperwork and up to $10,000 in government-backed insurance."
The program expanded last year and has added more than 1200 units with 600 property owners already participating. Funding for the program’s expansion was provided by the LA County Homeless Initiative and several non-profit foundations.
According to a LAHSA and PATH press release "Operated by People Assisting The Homeless (PATH), one of the largest homeless service providers in L.A.’s homeless services system, LeaseUp acts as an independent housing agency, matching property owners with renters ready to move in and making sure landlords receive market-rate rents for their properties as well as incentives and guarantees for housing under-served renters."
KNX 1070 Contributed to this story