Mountain Village

Town Of Mountain Village
Courtesy of Mountain Village

There are 2 types of Deed Restricted properties located within the Town of Mountain Village: Affordable Housing Units and Employee Housing Units. All properties are governed by the Affordable and Employee Housing Restrictions to provide a comprehensive and consistent set of provisions that apply to housing created by the Town of Mountain Village. 

To understand the process of applying and qualifying for a deed restricted property, please click on the images below.

Frequently Asked Questions

Qualifications may include minimum employment requirements, earned income requirements, residency requirements, property ownership limitations, and net asset limitations.

Two business days from the time SMRHA receives a completed application. 

With regards to Employee Housing Units, the potential roommate must submit a standard application and fee on forms provided by SMRHA. A signed copy of the lease or other occupancy agreement must be provided to SMRHA and Maximum Rental Rates may apply.

If you are self-employed, you will be required to show an accurate accounting of your working hours, location (including address) and income for the previous 12 to 16 months. In addition, a profit and loss, business tax returns, payroll verification, and other documentation may be requested to confirm your qualification. Third-party verification is recommended and may be required. 

With regards to Affordable Housing Units, Home improvements must be documented and approved by SMRHA, in writing, prior to construction of these improvements. Home improvement costs may be added to the Affordable Housing Unit value as determined by Section 4.C.3 of the Affordable Housing Restriction at the time the home improvement is completed. The total home improvement costs may not exceed 10% of the original purchase price. SMRHA may grant variances for improvements that exceed 10% of the original purchase price of the Ownership unit, prior to the construction of these improvements when determined by the SMRHA to benefit the purpose of the Ordinance, such as when the improvements increase the AHU’s capacity to house additional Employees. Home improvements exclude the following: general maintenance and repair costs, appliance replacements; and capital improvements due to normal wear and tear, and landscape plantings. 

With regards to Affordable Housing Units, Owner must provide written notice of intent to sell and request for maximum resale price calculation at least 15 days prior to offering the Affordable Housing for sale. Resale of Affordable Housing Units and Affordable Housing Lots shall be to qualified buyers as governed by Section F of the Ordinance.

The sales price for resale of an Affordable Housing Unit or Affordable Housing Lot shall be calculated by allowing a 3% appreciation, compounded annually, of the initial purchase price paid by the Owner, from the purchase date by the Owner. The 3% appreciation will be prorated to the day when the notice of intent to sell the unit is received by SMRHA.

Changes to your Household may jeopardize qualification. Please notify SMRHA immediately of any changes to your Household. 

SMRHA may require each household to re-qualify in regards to the qualified Employee requirement at a minimum of every two years, if not sooner by random audit.

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Mountain Village

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