Small Rental Repair Program

The Small Rental Repair Program will be starting later this year.

Please check back for updates.

If you own a year-round rental property that was damaged by Hurricane Matthew or Florence, you may be eligible to receive financial assistance from the ReBuild NC Small Rental Repair Program. The program applies to full-time rental structures, including single-family rental units and properties with up to four units. You may submit up to four applications for these types of properties, as long as no more than seven rental units are contiguous.

To qualify, you must have remaining repairs needed on the property estimated at $5,000 or more to make the property ready for renters and protect against future storms. The program is unable to reimburse property owners for work already completed.

ReBuild NC awards assistance as a grant, with a deed restriction on the property for five years. If you meet the terms for five years, the deed restriction will expire and you will not have to repay any of the funds. Terms include leasing units to tenants who have low-to-moderate income and charging rents that are at or below the HOME program rents (high HOME rent limit) set by the U.S. Department of Housing and Urban Development (HUD), excluding any rent subsidy such as the HUD Section 8 program.

Small Rental Repair Program assistance can be combined with funds from other sources, but you must tell ReBuild NC about any financial assistance you have already received.

Eligibility

The ReBuild NC Small Rental Repair Program applies to properties that are:

  • Located in one of the counties identified by HUD as part of the Hurricane Matthew or Florence disaster area and able to document property damage as a result of the storm
  • One to four multi-room dwelling units before October 8, 2016 (properties that include two or more single-room dwelling units are not eligible)
  • Year-round rentals (no temporary, vacation or summer rentals)
  • On land you own (applies to manufactured homes used as year-round rental properties)