City, TAEO Award Tulsa Day Center $100,000 to Launch Landlord Guarantee Fund
The City of Tulsa and Tulsa Authority for Economic Opportunity (TAEO) are pleased to announce the recipient of the first grant from the Affordable Housing Trust Fund to the Tulsa Day Center, who will use the money to launch a Landlord Guarantee Fund.
The Landlord Guarantee Fund will be used for tenants participating in the Rapid Rehousing Program, which works with Tulsa landlords to place individuals and families experiencing homelessness into permanent, safe, and affordable housing.
Through the Landlord Guarantee Fund, Tulsa Day Center will guarantee to reimburse landlords up to $3,000 or 3 months’ rent if tenants fail to pay rent or utilities, whichever is exhausted first on a per tenant basis.
“The Tulsa Day Center’s Landlord Guarantee Fund is the first program of its kind in Tulsa,” said Kristin Maun, Housing Coordinator in the Mayor’s Office of Economic Development. “It exemplifies the innovative approach that the City of Tulsa has taken to working collaboratively with landlords and community partners in finding solutions to our affordable housing crisis through our Affordable Housing Strategy.”
The Landlord Guarantee Fund will only be available to landlords and property managers participating in the City of Tulsa’s Gold Star Landlord Program, a free and voluntary program that provides rewards and incentives to landlords and property managers who engage in the best rental practices.
Currently, there are 12 landlords and property managers with more than 400 residential rental properties participating in the program. Other incentives that landlords receive include prioritized processing of applications to the City of Tulsa’s Emergency Rental Assistance Program (ERAP).