The Housing Security Deposit Program (HSDP) is designed to provide clients security deposit assistance if they have no other means of obtaining a security deposit in order to secure rental housing.
This assistance is in the form of a LOAN to the client. A promissory note must be signed.
In order to be eligible for the HSDP, you must meet the income eligibility guidelines (see chart below); be able to obtain a legal lease from the landlord; be able to maintain the monthly rental fee on the unit; be able to pay the loan back within 6 to 12 months; be able to provide good landlord references; and be able to provide the following information:
· Completed application
· Verification of all income and expenses
· Positive landlord references
· Social security numbers of all household members
· Proof that you have no other way to pay your security deposit
· A signed landlord form stating their understanding of the program and their willingness to participate in the program
HUD Area Income Limits for 2023
Teton County, Idaho
80% of area median income
Applicants may be denied if they do not submit completed applications and documentation; if they do not meet income guidelines; if it is determined they cannot afford the rental unit; if they have a prior history of damaging rental housing; if they have consistently failed to pay rent; and/or if they cannot show the steps they are taking to improve future budgeting efforts.
Please drop off supporting documentation at the Community Resource Center of Teton Valley, 1420 N. Hwy 33, Suite 204, Driggs, ID. If you have any questions, please contact us at 208-354-0870
This is not an emergency program. The application process takes at least 5-7 business days from the time a COMPLETED application is received, with ALL documentation.