Benefits for homeowners who create rentals
How renting benefits you
There are many benefits to renting as a homeowner - and many options for doing so.
INCREASE + DIVERSIFY YOUR INCOME
Renting can improve your finances in two ways: you’ll receive regular income through renting and you’ll improve your property value, which can increase your overall net worth.
FLEXIBILITY FOR YOU AND YOUR FAMILY
Homes - like families - go through cycles. For example, a young family might rent a JADU to a local worker, then as the family grows, the JADU becomes part of the main house again, and when the child leaves home, the owner can downsize and move into the JADU and rent out the main house as part of their retirement plan.
COMMUNITY BUILDING
Community building is a win-win when it comes to renting: you’re supporting the broader community by providing affordable housing for a local worker, and you’re building a support system around yourself and building community in your own home.
When you become part of Real Community Rentals, you’ll receive support every step of the way. We help you with everything from assessing the best options for creating your rental to finding a great tenant. You aren’t on your own in this process!
Program benefits for homeowners
Support with tenant screening, rental agreement review, and periodic check ins.
Free feasibility visit to evaluate your best options for creating a rental.
Enhanced security deposit beyond what tenants can pay (up to $2,500).
Additional loss coverage for unforeseen short-term vacancy or damage beyond security deposit (up to $3,000).
Attractive financing and loans to create a second unit.
Waived or reduced permit fees for certain repairs or improvements.
To access program benefits, you will need to sign a simple agreement stating that you will set rents at reasonable levels to households earning less than 65% of area median income. ADUs and JADUs have a natural affordability built-in and setting reasonable rents is easily accomplished and will be a win-win for you and the community.
Learn more about the different types of rentals
ACCESSORY DWELLING UNIT (ADU)
Can be converted from existing space, such as a garage, or be new construction.
Can be detached or share walls with main house.
Has a full kitchen and bathroom.
ADUs under 800 sq ft and created through conversion of existing space have a ministerial permitting process.
ADUs differ from JADUs in that they may require a resizing of the septic system.
JUNIOR ACCESSORY DWELLING UNIT (JADU)
JADUs are created by repurposing an existing bedroom in a home.
A separate entrance and kitchette are added to make it a studio apartment.
A JADU can have its own bathroom or share a bathroom with the main house.
JADUs do not redefine single-family homes, as the door adjoining the JADU to the rest of the home remains.
They do not increase density as the living and sleeping capacity of a home does not change.
They do not require any changes to your septic system.
WHOLE HOUSE OR ROOM SHARE
These are the traditional rental types you may be most familiar with.
You can choose to rent your whole house or a single room in your house.
We offer assistance on crafting a shared living agreement between you and your housemates.
Has the least amount of upfront cost.
Can provide financial security, mutual assistance, and create a sense of community.
Interested in shared ownership or creating a co-living community?
An ADU or JADU doesn’t have to be a rental situation. It is entirely possible to transfer the home into an LLC and invite others to buy shares in the LLC and pay for the creation of JADU or ADU. This is an opportunity to create a co-living community with shared ownership. And furthermore, a Community Land Trust could own the ground, taking the cost of the land out of the equation and making the stability of ownership more affordable. To learn more about this program, please contact CLAM.
Setting reasonable rents is at the heart of this program
We’re able to provide these incentives to homeowners in exchange for homeowners setting reasonable rents. Reasonable rents for local workers is how our community can continue to thrive.
Curious how this shakes out financially for you? Subscribe to our newsletter and be the first to find out when we launch our comprehensive calculator tool this summer.
Hear from your neighbors who have joined our affordable housing movement in West Marin
Explore floor plans, see photos, read interviews, and understand the financials behind renting in West Marin.
