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SIGNING BONUS AGREEMENT
This Signing Bonus Agreement is entered into on this ________ day of ___________________, 20______
between ______________________________________________ (“Landlord”), and HOM, Inc., (“HOM”), an
Arizona corporation, (collectively, the “Parties”), regarding the premises located at
____________________________________________________________________________________.
WHAT THIS DOCUMENT IS - As set forth more fully below, the purpose of this Signing Bonus
Agreement is to memorialize the Parties’ agreement whereby if Landlord enters into a lease
with a HOM-assisted prospective resident and Landlord meets at least one of the three
alternative qualifications below, Landlord will receive a non-refundable signing bonus equal to
1.5 times the base monthly rent as set forth on the lease (“Signing Bonus”).
WHAT THIS DOCUMENT IS NOT - This agreement is not a holding agreement requiring Landlord
to not market a unit, nor does it entitle or guarantee a HOM-assisted prospective resident will
be given a lease for a unit at the property. This Agreement merely sets forth the terms upon
which HOM will pay Landlord the Signing Bonus in the event a lease is effectuated with a HOM-
assisted prospective resident.
Three Alternative Qualifications (“Alternative Qualifications”) to Enable a Landlord to Receive the Signing
Bonus:
1. A Landlord who has not worked with a HOM-assisted Rapid Rehousing program before January 1, 2021;
or
2. A Landlord who will employ modified tenant screening criteria for HOM-assisted prospective residents
(to be approved by HOM), such as accepting applicants without income, with previous evictions, and/or
criminal history that would previously lead to a denied application; or
3. A Landlord who offers an affordable rent (approved by HOM) that is lower than the current market rate.
The parties agree that the purpose of this Agreement and Landlord’s participation in the program is in
furtherance of Landlord’s commitment to fair housing and provides equal access to housing for individuals
and/or families protected by the federal, state, and local Fair Housing Acts.
The Signing Bonus is immediately non-refundable and is given in consideration for Landlord entering into a lease
with a HOM-assisted prospective resident. The Signing Bonus will be paid within 10 business days after a lease
is executed between a HOM-assisted resident and the Landlord. The Parties agree that the Signing Bonus is not
to be applied to any amounts owed under the Lease, is not rent and is not a deposit as contemplated in A.R.S. §
33-1321.
It is understood and agreed that the resident may be receiving supportive services from a HOM partner or other
social services organization, for part or all of the lease term. This, however, is not a guarantee of the behavior
of the resident nor guarantee they will receive social services. HOM may provide to the resident a rental subsidy
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pursuant to one, or more, rent subsidy programs operated by HOM, or otherwise available to resident in
conjunction with the social services being provided to the resident (collectively, the "Rent Subsidy"). In such
event, the Rent Subsidy will be paid to the Landlord, on behalf of the resident, for a portion of the rent at the
Unit. A separate Housing Assistance Payments (HAP) Contract or Rental Assistance Agreement between HOM
and the Landlord will be executed for the applicable Rent Subsidy program.
Resident is liable for his/her own conduct and Landlord can enforce its rights under the law and the lease in the
event of any breach of lease or violation of the law on property, including failure to pay rent and disturbances
on property. Nothing in this Agreement shall be construed to make HOM liable for any amounts whatsoever,
except for the Signing Bonus.
If any legal action or proceeding is brought by either party to enforce any part of this Agreement, the prevailing
party will recover, in addition to all other relief, reasonable attorneys' fees and costs. In the event of litigation,
the parties expressly waive their right to trial by jury.
Landlord:
HOM, Inc.
Signature
Date
Signature
Date
Name and Title of Signatory
Name and Title of Signatory
For HOM Use Only
Participant:
Program/Project:
Signing Bonus Qualification: (check the applicable box(es) that the Landlord qualifies under):
Landlord had not worked with a HOM-assisted Rapid Rehousing program before January 1, 2021
Landlord used modified tenant screening criteria for HOM-assisted prospective resident (check below)
Reduced income requirements
Previous evictions
Criminal convictions
Landlord reduced rent from current market rate (complete below)
Current Market Rent:
$
Reduced Rent:
$
Signing Bonus Approved:
Base Monthly Rent:
$
X 1.5 =
Signing Bonus:
$
