Vacant Rental Property Program is Open

Written By Susan Cotner

The Vacant Rental Program is now open to eligible property owners in the City of Albany.  Get help to update and address health and safety issues in existing vacant rental units. 

Two grant levels are available:

  • The Standard award provides up to $50,000 per unit for units rented to households earning up to 80% of Area Median Income (AMI). 

  • The Enhanced award provides up to $75,000 per unit for units rented to households earning up to 60% of AMI. 

Rents are capped, but are close to market rents in many areas.  The units must be kept affordable for 10 years.

The following are some of the factors in determining property eligibility:

  • Property located in the City of Albany

  • Property size of 1-5 five units

  • Property must not be in foreclosure, current with taxes and insurance

  • Sufficient funding is available to result in a Residential Occupancy Permit for the unit.

For more information, please refer to the following document issued by New York State: Frequently Asked Questions guide 

To get started, submit an application for an initial review and invitation to take the next steps.  Visit the Vacant Rental Property page for more information.


Susan Cotner
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2026 Program Income Limits