NRRP

NRRP stands for the National Rural Rental Preservation program. It is a United States Department of Agriculture (USDA) Rural Development initiative designed to help preserve existing affordable rural rental housing. The program aims to prevent the loss of these units by providing financial assistance to owners of eligible properties.

The primary goal of NRRP is to ensure that low-income individuals and families in rural areas continue to have access to safe, decent, and affordable housing options. This is achieved through various forms of assistance, including grants and loans, which can be used for repairs, rehabilitation, and modernization of rural rental properties. These improvements help to extend the useful life of these housing assets and maintain their affordability for current and future residents.

Eligibility for NRRP assistance typically extends to owners of multi-family housing properties in rural areas that are financed with USDA Rural Development loans or have certain USDA Rural Development mortgages. The program targets properties where tenants are at risk of displacement due to deteriorating conditions or the expiration of affordability restrictions. By investing in these properties, NRRP seeks to stabilize rural communities and support the economic well-being of their residents.