CHNW Offers Below Market Rental Prices
At CHNW, we are proud to have established ourselves as an organization that makes renting effortless. Our rental prices are kept below market value. No previous rental or credit history, guarantor, or income restriction is required. We offer an easy experience to support those students who are signing their first lease. Additionally, low-security deposits allow our tenants to move into an apartment without the usual heavy out-of-pocket expenses.
“CHNW finances its new construction largely through tax-exempt bonds,” says David Garnand, Executive Director of CHNW. “As a 501(c)(3) non-profit, CHNW partners with the Oregon Facilities Authority (OFA) to secure long-term financing. CHNW is a self- sustaining a non-profit organization that operates without traditional external funding sources such as governmental grants or subsidies, instead of operating solely on the below-market rents collected from residents,” says David Garnand.
By not having to pay property taxes on our buildings, the money directly applies to lower rents and student services. In a typical multi-family housing property, an owner would expect to pay about 25% of their total expenses to property taxes. We are able to apply those costs to the personal and professional development services that we provide. In addition, lower rent amounts to be more affordable for students.