The goal of the Rental Improvement Fund (RIF) is to increase access to credit for small landlords and to improve the quality and affordability of rental housing in Philadelphia.
- Landlords (and associated entities) must have no more than 10 units of rental housing in their portfolio.
- Landlords can receive loans of up to $24,999 with a term of up to 10 years.
- All tenants in the units receiving repairs funded by the loan must have household incomes of 100% or less of area median income (see charts).
- One-third of tenants in the units receiving repairs funded by the loan must have household incomes of 50% or less of area median income (see charts).
The first phase of this program will take place in the following zip codes: 19120, 19122, 19124, 19125, 19133, 19134, 19137, and 19140. For more information and to apply, please visit: impactservices.org/rental-improvement-fund/, or contact: Loan@impactservices.org, or call: 215-974-0900.
Pilot Area Map with Zip Codes
All loans made through this program must support improvements to units rented to households at or below 100% of AMI.
One third of loans must be used to improve units leased to tenants at or below 50% of AMI.