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How Landlords Get 0% Interest and Full Forgiveness for Rental Improvement Funding

Updated: Nov 21, 2023

Apartment complex under construction

As a landlord in Philadelphia, maintaining and upgrading your rental properties is crucial for both tenant satisfaction and property value. The PHDC's Rental Improvement Fund (RIF) is an excellent resource, and ERGO Real Estate Company is here to guide you through accessing and leveraging these funds effectively.

Program Overview:

The PHDC’s RIF offers loans to small landlords for essential property repairs, with options for full forgiveness or a preferable 0% interest rate under certain affordability requirements. This program is especially designed for landlords with no more than 15 rental units across a maximum of 5 properties, including those owned by associated LLCs.

Eligibility Criteria:

  • Landlords owning up to 15 rental units.

  • Units with rents affordable to households earning at or under 60% AMI.

  • Properties must be up-to-date with city taxes and have a valid rental license and property insurance, or will obtain these upon completion of repair work.

Eligible Repairs:

RIF covers a wide range of repairs that address safety, health, habitability, and efficiency concerns. These include, but are not limited to, roof and window repairs, electrical and plumbing improvements, and energy efficiency upgrades.

Loan Forgiveness and 0% Interest Options:

RIF offers $25K/10Y loans with full forgiveness and $50K/15Y loans at 0% interest, provided certain conditions are met, including rent increase limits, three-year good cause eviction protection, and maintenance of a valid rental license and property insurance.

Financial Commitment:

Landlords are required to set aside an additional 20% of the estimated project cost to cover potential overruns, which can be part of the RIF loan or personal funds.

How ERGO Real Estate Company Can Help:

Navigating the intricacies of the RIF can be challenging. ERGO Real Estate Company offers expert guidance to ensure that you meet all eligibility requirements, understand the financial commitments, and utilize the funds in the most beneficial way for your property investments.


Enhancing your rental properties in Philadelphia is now more accessible with the PHDC Rental Improvement Fund. Contact ERGO Real Estate Company today to learn how we can help you maximize the potential of your property investments with this valuable resource.



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