Short-Term Fix FAQ for Property Owners

  1. Can I rent directly to local employees?

To be eligible for an incentive you must rent to an eligible local business and not directly to employees. An eligible business is located in Winter Park and has 50 or fewer employees. This ensures that tenants will meet the Town’s workforce eligibility requirements without an additional screening process. 

  1. Can I control who lives in my unit?

The specifics of the Master Lease or Licensing Agreement are up to the negotiating property owners and local business. The agreement can specify an occupation limit or other similar restrictions that are agreeable to bot the property owner and local business. 

  1. Can I still charge rent to the local business?

Yes, rent can be charged on top of the provided incentive. To be eligible for an incentive property owners must enter into a master lease with a local business, so if prohibitively high rent is proposed, and no agreement is reached, a property owner would not be eligible for an incentive. 

  1. What if my property is damaged?

While a sample master lease is provided, property owners should consult legal counsel to ensure that agreements allow for property owners to collect damages from the renting business in the case of property damage. 

  1. Is the incentive taxable income?

Eligible property owners will need to supply a W9 when applying for incentive payout and will receive a 1099 from the Town for any incentive payout. 

  1. When would I need to payback the incentive?

The incentive would only need to be paid back if the eligible business ends the master lease or licensing agreement prior to the anticipated lease end without being replaced by another eligible business. Property Owners and businesses should ensure that both parties fully understand the terms of possible leaser or agreement termination. 

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