Vacation resort to pay owners to lease homes

South Lake Tahoe is offering cash incentives to millionaires who give up their second homes for one year to increase affordable housing for local workers. The Long-Term Rental Incentive Program provides payments of $4,500 for owners who lease their property for 12 months and $2,000 for six months, under strict eligibility rules. The program aims to boost the supply of long-term rental housing by targeting properties within the city that meet health and safety standards and are rented to working adults earning no more than 125% of the area median income.

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