The property must be located within the Town’s Urban Growth Boundary, and must not have been rented long-term in the past 12 months. The property must be a single-family home, condo, townhome, multi-family home of up to 2 units, or a vacant room in an owner-occupied property.
The Property Owner must identify a Qualified Household to rent their property to that is not of blood relation to the homeowner. See more info on Qualified Household/Tenant in the FAQ below.
Property Owners must sign either a seasonal (5-11 months) or long-term (12+ months) lease with a Qualified Household. The homeowner must rent at or below the maximum rental rates indicated in the FAQ below.
Placemate will provide property owners and tenants with an online application which needs to be completed before the incentive can be disbursed. The payments will be issued in two equal installments — half at the beginning of the lease, and half at the end of the lease.
Property owners and tenants must comply with midway (long-term leases only) and lease-end check-ins to ensure they are in compliance. If the property is found out of compliance, the grant payment(s) may be withheld.
| Lease Length |
1 Qualifying Tenant* |
2 Qualifying Tenants |
3 Qualifying Tenants |
4 Qualifying Tenants |
|---|---|---|---|---|
|
Seasonal (5-11 months) |
$2,000 |
$4,000 |
$6,000 |
$8,000 |
|
Long term (12+ months) |
$4,500 |
$9,000 |
$13,500 |
$18,000 |
Any single-family home, condo, townhome, mobile home, accessory dwelling unit, or a single room or group of rooms in an owner-occupied property, that has not been rented full time in the past 12 months. Multi-family homes greater than two units, hotels and motels are not eligible for the Program.
If you are already renting your property long-term (even on a month-to-month lease), or have rented it long-term in the past 12 months, the property would not qualify for the grant.
Rental rates are set by the property owner or property manager and there are no rent requirements for the program, however the rent can not exceed $1,000/mo for a private room, $1,500/mo for a studio, $1,700/mo for a 1BD, $2,500/mo for a 2BD, and $3,500/mo for a 3BD home (not including utilities and/or pet fees).
A Qualified Household is any group of individuals who intend to occupy the Property together as their primary residence, where at least 50% of the adults are a Qualified Tenant. The average annual income of all adult residents of a household (related or unrelated) cannot exceed 150% AMI for Mono County (the 2024 150% AMI limit for a 1-person household is $111,200).
A Qualified Tenant is an adult currently employed an average of at least 30 or more hours per week, or who meets full time employment equivalency with employer verification, based out of or at a site within the Mammoth Unified School District geographical boundary, who is not of blood relation to the Property Owner.
The average annual income of all adult residents of a household (related or unrelated) can not exceed 150% of the area median income ($111,200) for Mono County.
Prior to disbursing grants, our partners at the Town of Mammoth Lakes will review documentation submitted by Placemate, including a copy of the fully executed lease agreement, proof of status for qualifying tenants, and a property owner application.
The Town of Mammoth Lakes will issue 50% of the payment to the Property Owner within forty-five (45) days of a seasonal or one-year lease commencement and confirmation of eligibility, and 50% within forty-five (45) days of a successful end of lease.
Please note, each Property Owner may only participate in the Program one time and there are no incentives after year one.
