Security deposit assistance in New Orleans

New Orleans has dealt with more than its share of housing problems in the years following Hurricane Katrina. To stem this crisis, nonprofit aid organizations and government agencies provide rental assistance to help move residents from homelessness to permanent rental housing.

Each housing program utilizes case management and counseling to assist those who might otherwise have no place to live. The goal is to keep clients from joining New Orleans’ permanent homeless population. Here are some of the leading opportunities for lower income families to improve their situation.

House of Ruth

House of Ruth is a rental assistance organization that can help families obtain permanently affordable housing. Fund are allocated to approved applicants who need help coming up with the security deposit and first month’s rent for a new apartment.

While some transitional housing programs utilize a temporary residential center, House of Ruth works to promote actual placements directly into private rental properties. It is a major provider of security deposit and rental aid in New Orleans. We previously provided a feature article on House of Ruth which may be helpful to those seeking assistance.

Catholic Charities

The Archdiocese of New Orleans has provided applicants with rent funds in the past to assist with their housing search. It should be noted though that Catholic Charities generally requires that all clients apply for public assistance prior to requesting aid through the organization. This article provides more information about their programs.

Loan Options

While the above charities provide cash grants to applicants, some working adults may earn too much money to qualify, yet too little to be able to come up with the full deposit and first month’s rent. It can make finding a permanent home difficult, especially when paying for temporary housing.

  • ASI Federal Credit Union has an open membership policy to Orleans Parish residents as well as surrounding communities. Personal loans may be obtained by working applicants who have reasonable credit. We featured a special loan program operated through a partnership between ASI and Kiva that focuses on microlending.
  • Greater New Orleans Federal Credit Union also admits residents of Orleans Parish for membership. Personal loans may be obtained to come up with the initial move-in requirements of a new rental property.
  • There may be other credit union options in New Orleans that can meet this loan request. However, most have restrictive membership rules that require affiliation with one of their employer partners.

Before applying for a loan that must be repaid with interest, prospective tenants who believe they meet the definition of low-income should first check with social services. They may be referred to one of the above agencies or to another organization that might be able to accommodate a request for funding.