Veritas, San Francisco’s Premier Operator of Rent-Controlled Housing, works with Board of Supervisors to expand rent-relief program for most vulnerable residents citywide
SAN FRANCISCO — Veritas Investments today announced the launch of the Expedited Hardship Waiver Program, which immediately waives passthrough charges resulting from Operating & Maintenance expenses (O&M) as well as from Capital Improvements (Capex) and voter-approved bond initiatives for Veritas residents with a particular hardship or situation that makes such increases difficult or impossible to absorb. In addition to this new program, Veritas is also voluntarily waiving all accumulated O&M charges up until the Rent Board certification for petitions filed after December 11, 2017.
While San Francisco regulations allow owners who repair and improve their properties to seek increases to offset a minority portion of those costs, this new Veritas program waives that increase at Veritas properties citywide for those residents with a qualifying hardship.
The rollout of this new citywide program follows a smaller test with several Veritas properties within District 5 and District 3.
“As the largest operator in San Francisco, we understand our responsibility to our residents and communities. Veritas is committed to the well-being of our residents and especially to those who are most vulnerable in this tight housing market,” said Yat-Pang Au, CEO of Veritas Investments. “We recognize the potential impact these expenses might have on residents and we will continue to find ways to help residents who need additional support and preserve affordability in San Francisco.”
Residents who feel they cannot afford an O&M, CapEx, or bond related increase and may qualify for hardship exemption may first contact GreenTree to put a hold on any eligible charges. Next, the resident should file a hardship application with the Rent Board.
Even though passthrough expenses may cause rents to slightly increase, they do provide significant benefits for residents, ranging from urgent and required items like earthquake retrofits and life-safety repairs, to ongoing repairs such as water, electrical, infrastructure and general maintenance to revitalize and restore aging properties.
Residents for whom these increases pose an economic hardship should either reach out to GreenTree, Veritas’ property management operator, at 415.968.1806 or hardshipwaiver@greentreepmco.com to place a hold on any related charges. The waivers will be immediately granted, subject to later verification.
Over 11 years of Giving Back in San Francisco
The new hardship waiver program is the latest in a series of commitments Veritas has made to its residents and community. Recently, Veritas’ employees volunteered over 500 employee hours and collected more than 3,500 gallons of trash while working to clean up the Mission District. Veritas has also joined Pledge 1%, a national social impact initiative, in which the company gives back 1% of its time and resources, integrating philanthropy into its corporate DNA. As part of its Pledge 1% investment, Veritas’ employees will volunteer over 3,000 hours in the coming year to support causes and non-profits in the San Francisco Bay area and beyond.
