Property owners in South Lake Tahoe who have an extra room, vacation home, or second home may be eligible for cash incentives by converting those properties into long-term rentals through the city's Long-Term Rental Incentive Program.
According to an online post from the City of South Lake Tahoe, qualifying property owners can receive $4,500 per qualifying tenant who signs a 12-month lease, or $2,000 per qualifying tenant who signs a six-month lease.
The program is designed to encourage owners of underutilized housing units to offer long-term rentals while increasing the supply of housing for moderate- and low-income households. The city said the program helps create more affordable housing options for local employees and families.
The program serves households earning no more than 125% of the Area Median Income, which the city lists as $79,688 for an individual based on 2021 figures published by the California Department of Housing and Community Development for El Dorado County.
Property owners can apply online by completing the Long-Term Rental Incentive Program application and submitting the required documents by email. Applications also can be completed in person by scheduling a meeting with city staff, and phone assistance is available for people with limited internet access.
After an application is submitted, city staff will review the required documents, may conduct a site visit to verify health and safety compliance, and will notify applicants of their status by email or phone.
More information about eligibility requirements, application instructions, and the Long-Term Rental Incentive Program is available on the city's website at South Lake Tahoe Long-Term Rental Incentive Program.
(City of South Lake Tahoe contributed to this story.)
