Q: What's in it for me as a seller?

A: Many Oakland residents have lived here for decades, taking pride in caring for their homes and enjoying neighborhood friendships. These residents have seen the effects that more rental properties have had on the neighborhood and many want to ensure that their home remains owner-occupied in the future. Furthermore, the CLT provides an option to help elderly residents age-in-place. The CLT can buy your lot for cash now, and you can use that money for home repairs and renovations, or for whatever you please. Then, when you are ready to leave your house, OPDC can buy it, do necessary renovations, and then sell to another family who will love and take care of the home. The land will always be owned by the CLT.

Q: What's in it for me as a buyer?

A: For buyers, the pitch is pretty simple: you get a quality, affordable house in a highly accessible and desirable location, close to Downtown, dozens of bus routes, world-class cultural amenities, and beautiful Schenley Park.

Q: Will OPDC pay me as much for my house as a speculator would?

A: OPDC will make a competitive offer for your home, taking into consideration the home’s condition. Many homeowners find this compelling because they know that their home will be occupied by a homeowner in the future.

Q: I am already renting out an apartment in my own house, where I live. I have a two-unit occupancy permit that allows me to do this. Will the CLT allow me to keep renting the apartment?

A: Yes, the requirement for owner-occupancy can be met in one unit and the other unit rented out as long as both units are in the same property.

Q: I own the house next door to the one I live in, and currently rent it out. Can it be part of the CLT? How would that work?

A: If your long-term goal for this property is that it be a rental unit, unfortunately it would not be eligible to join the CLT. If you consider selling it at some point in the future, please let OPDC know so we can make a competitive offer to purchase it and place it in the CLT.

Q: What about the property tax on the land: do I get any breaks on this?

A: All property taxes will remain the responsibility of the property owner. Allegheny County does not yet have a policy on CLT properties. Some CLT property owners in other cities have had success keeping tax assessments from increasing, given the restrictions on their property. Oakland CLT property owners are encouraged to appeal their Allegheny County tax assessment and OPDC will support you at the hearing.

Q: If OPDC owns the land my house is on, do I have to ask permission to garden, build a fence, or cut down a tree? What about things like sidewalk repairs or issues with underground pipes?

A: As the homeowner, you retain responsibility for all upkeep on your property and control of all decisions about renovations or landscaping.

Q: Can landlords sell their properties to the CLT?

A: Yes. As with any property owner, the CLT will offer a fair, competitive price to the owner.

Q: Does OPDC make money on this program? How does it pay for itself?

A: No, we do not anticipate any profits from the CLT. OPDC is currently raising the funds for the capital and operating costs of the CLT. Any income raised will go directly to program operations and CLT stewardship.

Q: How long is the term of the lease?

A: The lease has a ninety-nine year term and is renewable. A CLT property can also be inherited just like any other house can. If a CLT home is sold, the new homeowner signs a new lease with the CLT.