County Board Approves $10 Million, Looks to Lease Full Buildings for Homeless Post Pandemic
LOS ANGELES (CNS) - Los Angeles County is hoping to encourage landlords to lease entire apartment buildings to homeless individuals holding rental subsidies, with the Board of Supervisors today committing $10 million in incentives over five years.
As the Los Angeles Homeless Services Authority sought to rapidly house thousands of homeless individuals most vulnerable to COVID-19, the county and city of Los Angeles stepped up to fund 5,500 rental subsidies, among other strategies. But a shortage of available units persists, even with motel conversions, shared housing and other efforts to bring landlords on board.
Supervisor Sheila Kuehl proposed the new program, in part as a way to permanently house residents living in otherwise unoccupied motel rooms that may not remain available once most Angelenos are vaccinated.
"It's only homes that end homelessness," Kuehl said.
Available listings under the county's existing landlord incentive programs have gone up by more than 1,200 units over the last five months, according to Kuehl.
And property owners at 10 buildings, representing a total of 373 apartments, have already expressed interest in leasing entire buildings once the new incentives are in place.
To date, providers approached by landlords have not been willing to commit to pay property management expenses under current contracts. The county's new incentive program will cover the costs of property management, repairs, maintenance and vacancies for landlords who agreed to offer more affordable rents.
"We've learned that many L.A. property owners are interested in a 'double bottom line,'" Kuehl said. "They like receiving rent reliably on the first of the month as well as the other guarantees we offer, such as covering the cost of property management and building repairs.
"Property owners also appreciate being able to support county efforts to re-house veterans, older residents, families and others as they move from homelessness to housing," she added.
The hope is that the $10 million will allow LAHSA to quickly scale up the inventory of available units and place individuals with rent subsidies into new, permanent homes.
