RENTAL DEPOSIT GUARANTEE PROGRAM

Chaffee County’s Rental Deposit Guarantee Program (RDGP) offers security deposit assistance to residents of Chaffee County who are seeking to enter a new rental housing lease agreement. Approved applicants receive assistance (in an amount equal to the security deposit, not to exceed $2,000) via a Promissory Note (not cash) for the landlord, and an interest-free Repayment Agreement (“Payment Plan”) for the tenant. RDGP assistance is intended to reduce the upfront costs associated with a new rental housing lease agreement.

Income Eligibility Guidelines

RDGP assistance is available to Chaffee County residents who earn up to 120% of the Area Median Income:

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In order to be eligible for the Rental Deposit Guarantee Program, the applicant’s household must meet the income eligibility guidelines above, be able to maintain the monthly rental fee on the unit, be able to complete the RDGP Payment Plan within up to 12 months (not to exceed the initial term of the lease), never have defaulted on a prior RDGP Payment Plan, and be able to provide all of the following:

• an accurate, complete and legible application;

• documentation of all income and expenses;

• positive references from previous landlords;

• a written legal lease from the new landlord;

• a signed RDGP landlord form (stating that the new landlord understands the RDGP and is willing to participate in the program knowing that they will not receive cash upfront).

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Applicants may be denied if:

• they do not submit an accurate, complete and legible application with the required supporting documentation;

• they do not meet the income eligibility guidelines;

• the Office of Housing is unable to verify their employment or income;

• it is determined that they cannot afford the rental unit;

• they have a prior history of damaging rental housing;

• they have consistently failed to pay rent in the past;

• they have failed to pay and/or defaulted on a prior RDGP Repayment Agreement (“Payment Plan”).

 

The RDGP is not an emergency assistance program; the application process may require 10 or more business days to complete, beginning the date a completed application, with all supporting documentation, is received.

If you have any questions, please call the Rental Deposit Guarantee Program at ‪719-530-2590.

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If you are interested in learning more about the RDGP, please fill out the information below: