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This site is
sponsored by:
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Security Deposit
Guarantee Program
The Security
Deposit Guarantee Program is a "self help" program providing assistance with
move in costs for low-income Monterey County residents. Tenants pay their
deposit to the landlord over a year's time in monthly installments without
interest. We provide a guarantee to the landlord, via a Letter of Credit, for
the full deposit amount, which protects the landlord while the tenant is paying
their deposit. Maximum guarantee is for $900.
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1. Potential
applicants must obtain landlord approval to participate in this program.
Have the landlord complete the coupon on the back of the
Security Deposit
Guarantee Program brochure.
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2. After the
coupon is completed call us at 424-9186 for an appointment for an
interview. To the interview please bring the completed coupon, income
verification (i.e. pay stubs, AFDC or SSI grant letters, etc.) the name and
phone number of your former landlord, $5.00 for the application fee, and
your identification. |
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3. Complete
the interview/application process, this includes completing an
application
form
and providing the required documentation. |
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Applications
are reviewed for approval/denial based on the merits of the individual
application. The factors used to determine eligibility include:
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Adequate monthly income to cover monthly expenses including the deposit
installment. |
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Low income family or individual, based on federal income guidelines.
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Monterey County residency. |
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Former landlord reference. |
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Credit history. |
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Special circumstances such as no-fault notice to vacate a rental unit,
unaffordable rent increase, current participation in an educational or
training program, or homelessness will be taken into consideration.
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leer en español
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Housing Advocacy Council of Monterey County