LRMF for Property Managers and Landlords
Landlord Risk Mitigation Fund Overview
The Landlord Risk Mitigation Fund (LRMF) provides individuals and families with an opportunity for housing success and stability, while protecting the property and business investments of landlords. Tenants and landlords who choose to participate in the LRMF program are indemnified up to $3000 over a two-year period of residency. The money can be used to cover property damage or a non-payment of rent. The fund will NOT cover late rent payments while the tenant is still residing in the unit. It will only reimburse up to two late rent payments if the tenant is evicted or if the tenant abandons the unit. All tenants are responsible for finding a supportive service worker who will provide ongoing support and education to tenant(s) for up to two years. Please visit the Coalition website at fmhomeless.org for a complete description of the program policies and procedures.
Our Pledge to Property Managers and Landlords
We will not publish or distribute in any fashion your name or your participation in the Landlord Risk Mitigation Fund except as expressly directed by you.
How the LRMF Program benefits Landlords and Property Managers
- We are guaranteeing rent, damage repair and some insect infestation coverage.
- You have contact with a case manager who can mediate issues, teach needed skills, and communicate/interpret for the tenant.
- You keep your units full.
- You minimize your risk of financial loss due to unpaid rent or property damage.
- You assist a household traumatized by homelessness.
- You serve and provide cost savings to the community at large.
Responsibilities of the Landlord or Property Manager
The landlord must provide a copy of the lease agreement AND an inspection form to the tenant before the move-in date.
The landlord must follow the terms of the lease agreement in accordance with state and local law.
If the landlord has any concerns related to the tenant and/or his or her household, the landlord must first contact the tenant directly and follow procedures used for all tenants. If the landlord continues to experience conflict or concern, the landlord must contact the tenant’s supportive service worker as soon as possible for assistance in resolving the issue. You may also contact the Coalition as well.