Own a home in Truckee?

You could earn up to $18,000 by converting your property into a new long-term rental for local employees.

What is Lease to Locals?

The Town of Truckee Lease to Locals Program aims to unlock existing housing stock for the local workforce. The program includes a set of incentives for homeowners who shift from short-term renting their home — or not renting at all — to 5 to 12+ month lease arrangements with locally employed tenants.

Results to Date*

0
New units unlocked
0
People housed
*Data as of December 1, 2023

How the Program Works

1

Verify property qualifies

The property must be located within Truckee’s town limits and must not have been rented long term in the past 12 months. This is defined as having had full-time tenants who paid rent to use the property as their primary residence, even if they were on a month-to-month lease.

2

Find qualifying tenants

All tenants must work at least 20 hours per week for an employer based in the region and must not earn, on average, over 150% of the AMI ($118,125). See the Truckee Lease to Locals guidelines for a comprehensive explanation of how to qualify tenants and what documentation is needed. 

3

Sign a Lease

Property Owners must sign either a seasonal (5+ months) or long-term (12+ months) lease with a qualifying tenant. See below for the grant amounts for property owners. The max rent that can be charged is $3,500/month and the property can not be rented to immediate family members.

4

Complete full application

Placemate will provide property owners a full application which needs to be completed before the incentive can be dispersed. The funds will be paid in two equal installments — one at the beginning of the lease, and one at the end of the lease (within 60 days of each).

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 (effective July 1, 2022)

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+ month)
$4,500
$9,000
$13,500
$18,000
*A qualifying tenant is defined as an adult working locally, earning less than 150% AMI (see FAQs for specifics). One child or children count as an additional qualifying tenant.

Frequently Asked Questions

Any residential property in Truckee that is currently sitting empty or rented short-term qualifies. 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.

At least 50% of the adults over 18 in the household must work at least 20 hours per week (averaged throughout the year), for an employer located in the geographic boundaries of the Truckee Tahoe Unified School District (TTUSD).

A tenant’s gross annual Income can not exceed 150% of the area median income ($118,125). For households you can take the average of your gross income, which cannot exceed $118,125 per person per year. 

Examples:  

2 locally employed unrelated adults making $60k/each = Qualified

1 locally employed adult making $130k/year = Not qualified

The Town of Truckee has a goal of funding innovative programs that unlock existing housing stock for local employees. This program is funded by taxpayer dollars through the General Fund.

The grant is dispersed to homeowners in two installments — the first payment is dispersed upon lease signing, and the second payment is dispersed when the lease has ended. Payments are made by the Town of Truckee and are usually sent within 30 days of the start and end of the lease.

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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