Own a home in
Eagle County?

Eagle County property owners can earn up to $16,000 by converting their units into new long-term rentals for our local workforce.

What is Lease to Locals?

The Eagle County Housing and Development Authority (Housing Eagle County) has created an innovative new housing program, called Lease to Locals, to unlock new rental housing opportunities for the local workforce. The program provides property owners one-time cash incentives to convert their properties into seasonal and long-term rentals.

Results to Date*

0
# of properties
0
People housed
*Data as of May 1, 2024

How the Program Works

1

Verify property qualifies

Properties must be located in Eagle County, and must not already have been rented long-term in the past 12 months.

2

Secure Tenants

Eligible Households must have at least one household member working at least 30 hours a week in Eagle County, or who has recently been hired by an employer in Eagle County. 

3

Sign a Lease

Property Owners must sign either a seasonal (5+ months) or long-term (12+ month) with an Eligible Household. Properties are subject to an inspection and rent cap. Leases are not permitted to end between November 1 to March 31.

4

Complete full application

Placemate will provide property owners an online application which needs to be completed before the incentive can be disbursed. The funds will be paid in two equal installments — one at the beginning of the lease, and one at the end of the lease.

5

Compliance

The applicant must comply with midway and final lease checks to ensure they are in compliance. If they are found out of compliance, they may be disqualified from receiving additional incentive payments.

Incentive Amounts For Homeowners

Unit Size Seasonal
(5+ months)
Long-Term
(12+ months)
Rent Cap
(Incl. Utilities)
Studio
$2,000
$4,000
$2,000
1 Bedroom*
$2,500
$5,000
$2,200
2 Bedrooms
$4,000
$8,000
$2,650
3 Bedrooms
$6,000
$12,000
$3,100
4 Bedrooms
$8,000
$16,000
$3,400

*The incentive amount and rent cap for a private room/bedroom is 50% of the 1 bedroom amounts

Frequently Asked Questions

Eagle County Housing and Development Authority (Housing Eagle County) has funded the Lease to Locals incentive program to unlock new rental housing opportunities for the local workforce. The program provides property owners generous one-time cash incentives to convert their underutilized properties into seasonal and long-term rentals.

Eligible Properties must meet the following requirements:

  • Eligible Properties include single family homes, condominiums, townhomes, duplexes, modular homes or manufactured homes on a permanent foundation taxed as real property within the jurisdictional boundaries of Eagle County that are not currently encumbered by a deed restriction, right of first refusal, occupancy requirement, Land Use Regulatory Agreement, or similar program. New construction of single family homes, condominiums, townhomes, duplexes, modular homes or manufactured are excluded from the program. 
  • Eligible Properties must provide safe and habitable living conditions, confirmed through a property inspection prior to securing tenants.
  • Eligible Properties must have not already been leased as an existing long-term rental (including month-to-month and verbal agreements) in the past 12 months.
  • The applicant must be the owner of the property or legally represent the owner or ownership group.
 
  • Leases can either be seasonal (5+ months) or long-term (12+ months)
  • Leases are not permitted to end between November 1 to March 31.
  • Rental rates are subject to rent caps based on the unit size which is inclusive of utilities (water, sewer, garbage, electricity, and heat).
  • Applications may be denied based on the physical condition of the proposed property or a determination that the Eligible Property is not in the best interest of the County or ECHDA. Program is subject to market conditions.
Rent Caps by unit size
Studio = $2,000/month
1 bedroom = $2,200/month
2 bedrooms = $2,650/month
3 bedrooms = $3,100/month
 

At least one member of the Household must meet one or more of the following criteria:

  • A Household earns a living primarily in Eagle County by having worked an average of at least thirty (30) hours per week on an annual basis at a business with an office or job site physically located in Eagle County (multiple jobs in Eagle County may be combined to reach 30 hours per week); or
  • The Household cumulatively earns at least 75% of the Household’s Gross Household Income in Eagle County; or
  • Household has been hired for a job in Eagle County on a permanent basis to work at least thirty (30) hours per week; or
  • A Household is over the age of sixty (60) and had earned a living primarily in Eagle County prior to his or her retirement; or
  • Household includes a Disabled Person who had been a full-time employee in Eagle County immediately prior to his or her disability or has been granted an exception to the minimum of 30 hours per week in order to continue with a federal or state disability benefit program, if the person works the maximum number of hours per week the program will allow; or
  • Household employment in Garfield and Pitkin Counties will be allowed

First create a renter profile with Placemate. Once we have that information on file we can send you prospective properties that fit your criteria.

ECHDA will pay Landlord the stipend in two equal installments to include a half payment within 30 days of an approved application, and the second half within 30 days of the end of the lease. The cash stipend payment will end immediately upon termination of the lease agreement by either the Landlord or the tenant.

Eligible Landlords shall repay any and all funds advanced by the ECHDA in the event Landlord fails to comply with Program Guidelines, for breach by Landlord of the Lease to Locals Stipend Agreement or for termination of the Lease by Landlord without cause.

Tell us more about your property, and we'll get in touch

Please only fill out this form if you are a property owner. If you are a tenant seeking housing, please visit our Renter Page.

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