Rental Property Escrow

IMPORATANT UPDATE: NEW RENTAL ORDINANCE AND CHANGES TO THE RENTAL ESCROW PROGRAM

In October 2024, City Council passed a new Rental Ordinance designed to improve the safety and quality of rental homes while simplifying compliance requirements for property owners. The new ordinance takes effect on January 1, 2025. 

As part of this transition: 

    • BSEED will no longer accept new applications for the current Rental Escrow Program after January 31, 2025. 

    • The new Rental Escrow Program will transition to the Housing and Revitalization Department (HRD), which will revamp the program to make it more effective and oversee its management moving forward. 

    • HRD is currently finalizing the operational details of the Rental Escrow Program. Updates regarding the program, including next steps for landlords and tenants, will be shared soon. 

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    Below are resources to other agencies that may have information regarding escrow programs.

    Resources: