The Rental Funds program offers assistance to locally employed, full-time, year-round renters who are initiating a new 12-month lease within Eagle County. Eligible applicants may receive support in the form of up to two months' worth of rental payments, which are paid directly to the landlord, covering the first and last months of the annualized rental rate. Eligible recipients are responsible for paying the security deposit.

Repayment terms for the program depend on the applicant's income. If the applicant earns more than 120% of the area median income (equivalent to $120,000 for a family of four), they will be required to repay both the first and last month's rental assistance without incurring any interest within the first eleven months from their move-in date. If an applicant earns less than 120% of the area median income, only the last month's rental assistance shall be repaid.

Eligible Renters
Full-time, year-round residents employed at an Eagle County business.
Must meet Eligible Household criteria per the Eagle County Affordable Housing Guidelines: Administrative Procedures.
Must possess a valid social security number or I-tin number.

Eligible Renter Households
Households earning over 120% of the Area Median Income (AMI) repay both first and last month's rental assistance.
Households earning less than 120% of AMI repay only the last month's assistance.

Eligible Properties
Rental properties must be within Eagle County.

Maximum Rental Payment
Rental assistance covers the first and last month's rent, which may be annualized in a lease agreement.

Primary Residence
Rental residence must be the primary and only residence as per Eagle County Affordable Housing Guidelines.
Short-term rentals or subleases are not eligible.

Renter Payment
A full security deposit is required by the lease agreement.
Rental assistance repayment is outlined in the Rental Funds Program Agreement.

Landlord Investment
Landlords must provide a safe and sanitary unit and allow ECHDA inspections.

Assets
Renters must not have cash or assets exceeding five times the assistance amount.
Renters can't own other residential real estate during the lease term.

Term
A minimum one-year lease is required for renters and landlords.

Program Guidelines
For detailed information, please review the Rental Funds Program Guidelines.

Program Manager
For more information and to apply for the program, contact Melinda Dow at The Valley Home Store.
melinda.dow@eaglecounty.us
970-328-8700

Additional Resources
Homebuyer Education
Eagle County Affordable Housing Guidelines: Administrative Procedures