Can a landlord apply for a loan to modify a rental unit?
A landlord who has an identified tenant with a disability or plans to have an identified tenant with a disability may apply for the loan. As in the case of a homeowner loan, the modifications to be made must be documented and must relate to the tenant’s (beneficiary) functional needs. A landlord owning fewer than 10 units in the building may apply for a Home Modification loan at 3% interest. NOTE: Any landlord with a unit in a building of 10 or more units is required to make modifications under MGL Paragraph 7A, Chapter 151B Section 4 and is NOT eligible for Home Modification Loan Program. If, however, a landlord can prove hardship through litigation under this statute, application may be made to the Home Modification Loan Program.
