Security Deposit Program
Moving and Need Help with that Security Deposit?
The Security Deposit/Guarantee of Last Month's Rent Program offers low to moderate-income individuals and families assistance to cover costs of the Security Deposit and a Guarantee for Last Month's Rent.
A household may qualify for assistance with its security deposit, and may also receive a letter of credit to guarantee the last month's rent, allowing it to pay the last month's rent in monthly installments, if required by the landlord. Applications for this program will be processed on a first-come, first-served basis. Call the Housing Authority at (831) 454-9455 Ext. 321 for more information.
Note: This program is not currently available within the city limits of Watsonville.
Security Deposit
The Security Deposit Program will pay the security deposit on behalf of eligible applicants.
Amount: The amount of the security deposit cannot exceed one month's rent.
Grant/Loan: The security deposit may be a grant or a loan depending on where the tenant finds a unit to rent. In Santa Cruz or Scotts Valley, the deposit must be returned to the Housing Authority when the tenant moves. In Capitola and the unincorporated areas of the county, the tenant may keep the deposit if they remain in the unit for one year.
No Reimbursements: This program cannot reimburse a tenant for a security deposit or last month's rent that has already been paid.
Last Month's Rent Guarantee
The renter is responsible for paying the last month's rent to the landlord in monthly installments for one year. The Security Deposit Program will provide a letter of credit guaranteeing 1/12 of the last month's rent for every month during the first year.
Monthly Rent
The renters must be able to afford the rent on their own. This program does not assist renters with their monthly rent payments. Also, this program has no connection to the Section 8 rental assistance program. This program is targeted toward people who are not getting monthly rental assistance from any other program.
Renter Certification
By applying for the Security Deposit Program renters certify that they will be responsible tenants, pay the rent on time, adhere to the terms and conditions of the lease or rental agreement, and upon vacate, leave the unit in good condition to assure maximum return of security deposit dollars.
Landlord Certification
The landlord must provide a written certification that the rental unit is decent, safe, and sanitary.
Application Process
Step One: Find a Unit to Rent
The Housing Authority cannot process an application until the renter has located a unit to rent. Income limits vary by city, so renters should consider this when choosing a place to rent.
Step Two: Submit an Application
Once the renter has found a place to rent, they should contact the Housing Authority at (831) 454-9455, ext. 321 to request an application. The completed application must include: Verification of income such as pay stubs, W-2s, tax returns, and bank statements. Lease between the tenant and landlord. Letter of Credit, signed by the tenant and landlord. Housing Quality Standards Certification, signed by the landlord, stating that the unit is decent, safe, and sanitary.
Step Three: Approval
If the application packet is complete, and the renter is determined eligible, a check for the security deposit, along with a letter of credit guaranteeing the last month's rent, will be sent to the landlord, with a copy to the tenant.
Step Four: During Tenancy
The Housing Authority must be notified when the renter moves. In certain cases, the deposit must be returned to the Housing Authority.
Si desea una traducción en español, por favor llame al (831) 454-9455.
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