Small Rental Rehabilitation Program
Program Overview
The Renew NC Small Rental Rehabilitation Program helps eligible rental property owners (landlords) repair, reconstruct, or replace small rental properties (1-4 units) damaged by Hurricane Helene. Assistance is provided as a grant with a 10 year affordability period. The Small Rental Rehabilitation Program is part of the larger, over-arching Multi-Family Housing Program framework.
The program is targeted to serve low- to moderate-income (LMI) households in the following 28 HUD- and State-designated Most Impacted and Distressed (MID) counties and 1 zip code: Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Catawba, Clay, Cleveland, Gaston, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mecklenburg (28214), Mitchell, Polk, Rutherford, Surry, Swain, Transylvania, Watauga, Wilkes, Yadkin, and Yancey.
Do I qualify for this program?
You may qualify for the Renew NC Small Rental Rehabilitation Program if:
- Your property has 1–4 rental units and sustained unrepaired damage from Hurricane Helene (September 27, 2024).
- The property is located in a HUD- or State-designated Most Impacted and Distressed (MID) county.
- Units are VACANT at the time of application (no evictions to qualify).
- You owned the property at the time of the storm and still own it (priority).
- You are current on property taxes or on an approved payment plan, and loan obligations, including mortgages, are current.
- You agree to lease assisted units to income-eligible households at restricted rents for 10 years.