Improve your Investment Property!
Small landlords! Improve your 1-4 unit property with the Capital Region Hub’s Small Building Owner campaign. Receive $10,000 toward a property improvement plus funds for insulation.
Eligible building improvements include replacing a leaking roof, addressing mold/asbestos, eliminating knob & tube wiring. After the repairs, use NYSERDA’s EmPower+ program for additional resources to better insulate your building.
The funding is from NYSERDA, and improving insulation in your property is a requirement of the program. Insulating the attic, rim joists and basement will reduce utility bills and make rent easier for your tenant to afford.
Landlord Eligibility:
Landlord intends to continue to own and manage property (i.e., not flip the building)
Landlord is a private individual and/or LLC that discloses all principals and provides a copy of the operating agreement.
Landlord is locally based with a primary residence in the Capital Region.
Landlord has a portfolio of investment properties not exceeding a combined total of 20 residential units.
Landlord is a responsible owner: current on mortgage payments secured by property, property taxes, utilities and have insurance in place.
Building Eligibility:
Building is a 1-4 unit investment property.
Property needs insulation and can be insulated.
Building is occupied by tenants who are eligible for EmPower+ program (earn less than 80% of AMI).
Program Requirements:
Two-year compliance period. Program participation means that for a period of 2 years, the landlord agrees to:
Not increase rents as a result of the building improvements for a period of 2 years (rent increases are allowed to recoup increased property taxes, water bills, etc.).
Rent any vacant units to income eligible tenants.
Find the application here. Contact Susan Cotner at energy@ahphome.org for more information.