Financing for Small Rental Property Owners
Thanks to multiple Lead Hazard Control grants awarded to governments in Ohio from the US Department of Housing and Urban Development (HUD) and other types of federal housing assistance, rental property owners with one to four housing units can sometimes find assistance to make their properties lead safe.
HUD Lead Hazard Control Grants In the past, HUD has made awards of Lead Hazard Control grant funds to metro areas of Ohio as well as to the Ohio Department of Health and some smaller counties and cities. The grants are primarily targeted to housing units where a child has been lead poisoned, an investigation has been conducted and lead orders have been issued. The funding comes with several requirements and rental property owners are expected to use some of their own resources on the project. To check whether Lead Hazard Control grant funds are available in your county, go to OHHN’s Directory of Lead, Home Repair and Healthy Housing Resources and click on your county.
Community Development Block Grant (CDBG) funds are directly awarded to your county, city or state by HUD. CDBG funds allow for “rental rehab” programs to assist small property owners. The use of CDBG funds for this purpose is up to the grantee. Consult the Directory to see if your local government offers rental rehab assistance. If no program is listed, call your local government to ask if they are aware of resources to help small rental property owners. In non-metro areas of the state, CHIP grants from the Office of Community Development of the Ohio Development Services Agency, are awarded to counties. The program may be of assistance to you. If not, the program administrator may be able to refer you to other resources.