Yes, everyone. Utah’s Perpetual Housing Fund exists to remove the red tape, down payment, and income barriers that keep a rapidly expanding portion of our state from building equity where they live. Our nonprofit does this by building high-quality multifamily properties and allocating the majority of all proceeds and equity in the building to resident-shareholders.
There are no fees, multi-year commitments, housing market risks, or "gotchas" for residents. Simply work hard, be a good neighbor, and have a home become the significant source of stability and financial security in your life that it was for prior generations.
Paying off a mortgage and participating in home value increases are the single biggest drivers of wealth for families in Utah and nationally. As home values and rental costs increase, the economic difference between families who were able to purchase a home “at the right time” vs. renting is staggering.
The rate of homeownership in Utah is in steady decline. In 2021, nearly 70% of the homes sold in Utah were unaffordable to Utahns making the Median Area Income. It got worse in 2022 and is unlikely to ever fully correct back to pre-pandemic pricing.
As a lean nonprofit with community-first capital sources, PHF is able to share the majority of all annual cashflow, long-term equity generation, and future refinance/sale proceeds of a project with the residents who live there.
It does so by establishing a series of nonprofit tenant organizations that each have 75% ownership stakes in their buildings. As residents move in and out over time, they’re attributed their share of that organization’s profits and equity depending on how long they’ve lived in the building. No paperwork, commitments, or red tape are required. Residents receive the benefit from mortgages being paid down, buildings appreciating, and annual cashflow payments coming in just as if they were personally on title.
Ours is an affordable housing product that combines the accessibility, affordability, and lowered maintenance of renting with the wealth-building and lasting sense of community that comes with ownership. Stated simply, PHF tenants receive annual dividends and build equity all while they rent.
LIHTC seeks to relieve debt on the banking side, resulting in lowered rent on the tenant side. While affordable housing is a helpful solution, it does little to help those benefiting from it to generate their own wealth and escape the rent cycle.
While our organization will use 25% of our projects’ annual cashflow to continue to further our reach and fund more projects, 75% will be distributed into the hands of our tenants. There are no commitments and no time limits. The longer they stay the more equity they earn—equity that can be used to fund a small business, go back to school, or put a down payment on a property of their own.
The Perpetual Housing Fund is a non-profit developer, and our founders and core members have industry knowledge and experience, giving us a strong, informed, and driven foundation. We provide an affordable housing solution to the never-ending rent cycle that sets our tenants up for the future while giving them a place to put down roots today.
Collectively, we have delivered a vast range of housing options, from 300 sq. ft. micro-rentals to 2,000 sq. ft. for-sale townhomes and everything in between. Whatever the needs, we can build sustainable and affordable products to meet them…but we want to deliver on more than just providing a broad range of housing options. The majority of Utahns—including our friends, neighbors, and family members—can’t currently afford their own home. PHF provides a solution that offers affordable rent today, while building wealth for tomorrow.
Whether you're an investor looking to have an impact, a municipality seeking to address housing issues, or are simply curious to know more about PHF, please reach out via the contact form or the email below:
If you're interesting in learning more about leasing from PHF, please follow the link below:Visit Our Resident Site