Frequently Asked Questions

1. How much money do people actually save renting from Fulcrum?
   On average our residents save $600 per month vs. market rate for a comparable home. Over a typical six-year stay, that adds up to over $40,000 in savings. Think of the things you could do with $40,000!
   

2. Does Fulcrum offer long-term leases?
   Every lease through Fulcrum Communities provides a Tenant Right to Renew repeatedly for up to 10 years and a 2% per year cap on rent increases for the life of the lease. We try to deliver the stability of owning, with the flexibility of leasing.
   

3. How can Fulcrum stay in business if it rents homes at 20% below market rate?
   The Fulcrum promise sounds too good to be true. And it would be, except for some amazing neighbors in the Colorado community who have made large donations to help us acquire new homes at a huge discount. That’s how we can rent them for 20% below market while still generating sufficient cash flow to maintain the properties well and to keep the company financially strong.
   

4. How do I know who to call for what if I need something fixed?
   Fulcrum residents use our online portal to submit maintenance requests and communicate with us about questions, issues, or concerns.
   

5. Can I get a discount on my rent by using autopay?
   All payments must be made through the portal via electronic funds transfer. There is no discount for any payment method.
   

6. If I violate the Good Neighbor policies, can I earn my way back in?
   No. There are grace periods, but once you are in violation beyond those grace periods, you are permanently removed from the program. The Good Neighbor program provides significant savings, and there is a long line of families eager for the privilege of living in that program. So we do not compromise on the program’s requirements.
   

7. Who is responsible for property taxes and HOA dues?
   Fulcrum is responsible for property taxes and HOA dues.
   

8. Who is responsible for internet, electricity, gas, and water?
   You are responsible for internet, electricity, gas, and water.
   

9. What does the lease renewal process look like?
   Renewal is automatic. There’s nothing to do until you DON’T want to keep living there.
   

10. How can I be sure that you won’t go out of business or sell-off the property while I’m a tenant?
    Fulcrum is well-capitalized by our donors. And, as a not-for-profit corporation, our goal is not to make profits by flipping properties. Our goal is to support a vibrant community by renting properties at below-market rates to working middle-class households.
    

11. What is the government’s involvement in this program?
    There is no government involvement in Fulcrum. Fulcrum is 100% privately funded and 100% privately run.
    

12. What happens if I stay in the home for 10 years?
    First, we celebrate. That’s what we hope — that you will be happy and secure in the home for a long time. But, after 10 years of slower-than-inflation rent caps, it will be time for a new lease. The new lease will be priced at 20% below market at THAT time. This will be a significant adjustment, so you certainly are not obligated to sign a new lease and continue living in the home. But, the new lease will still be a big discount from market rates for alternative properties in the area, so we hope you will sign a new lease, stay in the home, and continue saving on rent for another ten years.
    

13. What if I get married?
    Assuming that you would like your new spouse to move in with you, they will need to sign on to the lease. Their income will be incorporated with yours for the next year’s income verification process. And, we’ll probably send you a Congratulations card.
    

14. What happens if my income goes down?
    As long as you continue to abide by the Good Neighbor program, you are welcome to continue living in the home even if your income goes down.
    

15. What if my income goes above the maximum for middle-income?
    You’re buying the beer this weekend! If your future tax returns show income above 140% of AMI (median household income) for two consecutive years, Fulcrum will notify you that you are no longer eligible to continue living in the home. You will have 60 days after that notice to find another home. But, remember: you will have known for more than two years that this conversation was coming, as you saw your paychecks getting larger. So, it will not be a surprise.
    

16. Can I get out of my lease early?
    During the initial 12-month term, you cannot get out early. After the initial 12-month term, the lease will auto-renew on a monthly basis at your discretion. You then have the right to terminate the lease on one month’s notice.
    

17. If my housemate moves out, am I responsible for the whole lease?
    During the initial 12-month term of the lease, nothing happens necessarily. As long as you continue to satisfy the Good Neighbor provisions, including paying the full rent even if your housemate contributes nothing, you can remain in the home. In the event of default, both parties remain liable for the full lease. After the initial 12-month term, any party to the lease can terminate the lease on one month’s notice.