Telluride

Qualifications include minimum employment requirements, earned income requirements, minimum residency requirements, property ownership limitations, and net asset limitations. ​Households must maintain ​Qualified Household status for as long as the ​household owns, rents or occupies the housing unit.  

5-10 business days.

Roommates are permissible. All tenants must be qualified and the Household re-qualified by SMRHA prior to occupancy and/or execution of a lease. The lease must be for a minimum of six months with a maximum of twelve to twenty four months and a copy must be provide to SMRHA prior to occupancy. 

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.  

Renters must requalify every year.

A Permitted Capital Improvement is any fixture approved by SMRHA Staff prior to erection, construction or installation as a permanent improvement to real property or non-recurring expenses for physical improvements that provide a long-term upgrade or improvement to the deed-restricted housing unit.

Labor costs provided by the Owner may be authorized for up to 50% of the Permitted Capital Improvements upon approval by the SMRHA. Permitted Capital Improvements cannot exceed 10% of the Original Purchase Price unless otherwise approved through an Exception Procedure.

Capital Improvements shall NOT include luxury items, upgrades for esthetic or personal preference, landscaping or cost associated with ordinary repair, replacement, and maintenance.

Prior to selling a unit, the owner must fill out an Intent to Sell form. Next, SMRHA will calculate the Maximum Sales price of the unit according to its Deed Restriction. In no case shall any Housing Unit be sold for more than the Maximum Sales Price. The Owner, Buyer and THA shall work together in addressing repairs necessary to bring a Housing Unit to Minimum Standards for Maximum Sales Price.

Changes to Qualified Households impact ongoing qualifications and may jeopardize qualification, such as a pending separation or divorce, the death of a Household member, or departure of a Household member, and the addition of Immediate Family members as defined, and shall be reported to THA within 30 days of said change. THA will make every effort to maintain stable housing for Households in transition, but shall require the Household to come into compliance within a reasonable period prior to issuing a Notice of Violation.

In order to verify compliance with Deed Restrictions and the Guidelines, THA will conduct regular Compliance Checks, and may initiate random Compliance Checks to investigate complaints or reports of non- compliance.

THA shall require Households to verify that they remain a Qualified Household within twenty-one (21) days of a written notice of Compliance Check or a penalty will be assessed (see Appendix E). Section 104.1 shall apply to Compliance Check submissions, and a sworn statement shall be required.