Specifications include, but are not limited to: The purpose of the Property Owner’s Mitigation (POM) program is to provide financial assurance to a property of up to $5000 during the first 24 months of unit rental to Moving Home Minnesota participants who move into their own apartments with a lease and also to persons who move into HUD Section 811 Project-Based Rental Assistance apartments. This financial assurance can be used for the following circumstances: (1) damage to the unit beyond what the security deposit covers, (2) unpaid rent at the end of the lease term beyond what is covered by the security deposit, and (3) court filing fees if an eviction is pursued beyond what is covered by the security deposit. This program is being developed so that both property owners and renters can move beyond background issues that prevent people from finding stable, safe, and affordable housing. This program does not provide a security deposit but can be accessed in the event of any of the 3 occurrences listed above. We anticipate 80 eligible moves per year with the defined population. These numbers are expected to increase as the number of HUD Section 811 units increase.
