If you rent a home in Jacksonville, a new program may help make homeownership more attainable.
On Wednesday morning, JWB Rental Homes, a property management company in Jacksonville, launched the HomeStep program.
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It will fund up to $16 million in equity incentives for renters. This initiative provides renters a path toward purchasing a home.
The way it works is you have to be a JWB renter and you can qualify to earn $100 a month to then use toward purchasing a home.
And the property doesn’t need to be owned by JWB -- you just need to use the company as your relator.
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Renters with JWB sign an addendum at the start of their lease, renewal, or any time during their tenancy.
And that’s when you can start earning that $100 a month. You can earn up to $3,600 total.
The idea for the program came from JWB’s involvement in Jacksonville Mayor Donna Deegan’s original committee, which was created to address affordable housing.
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No city funds are being used in the HomeStep program.
“This has really been what I’ve talked about so much, in terms of how we tackle just about any big challenge we have in Jacksonville,” Deegan said. “We need public-private partnerships; we need people who are invested in Jacksonville to come back and be a part of the solution on issues like affordable housing.”
JWB currently has more than 5,800 rental homes in Jacksonville, and most are considered affordable.
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