Solarentals

Sola Rentals operates as the property management subsidiary of SoLa Impact, a real estate development and social impact investment firm based in Los Angeles. The entity Sola Rentals Qozb LLC was incorporated on November 4, 2020. The firm is managed by co-founders Martin Muoto, who serves as Chief Executive Officer, and Gray Lusk, the Chief Operating Officer. Muoto, a graduate of the Wharton School of Business, leveraged his background in venture capital to address what he identified as undervalued real estate in South Los Angeles. He began investing his personal funds in 2009 before officially forming SoLa Impact in 2015.

The company's primary business involves the acquisition, rehabilitation, and management of distressed rental properties, as well as new construction, with a focus on affordable housing in South Los Angeles. Sola Rentals provides a suite of services for property owners and landlords, including rental listings, tenant screening, and full-cycle property management. It serves a clientele that includes tenants seeking affordable housing options, many of whom use Section 8 and other government assistance vouchers. The business model is built on a for-profit, social impact framework, utilizing private capital from investors to fund its real estate projects with the goal of delivering financial returns while also creating community benefits.

SoLa Impact, the parent company, has raised significant capital through funds like the Black Impact Fund, which attracted investments from institutions such as the California State Teachers' Retirement System (CalSTRS), PayPal, and the Skoll Foundation. These funds are directed towards acquiring and developing thousands of housing units, a majority of which are intended to remain affordable for 55 years. The company has also expanded into commercial real estate, developing a campus with offices and a tech laboratory. Through its nonprofit arm, the SoLa I CAN Foundation, it offers technology education and scholarships to local youth. The company has faced criticism and legal challenges regarding tenant relations and maintenance issues in some of its older, acquired buildings. Keywords: property management, real estate investment, affordable housing, social impact investing, Los Angeles real estate, tenant screening, property rehabilitation, new construction, community development, Section 8 housing, rental listings, real estate development, urban renewal, social enterprise, impact funds, South Los Angeles, commercial real estate, housing services, landlord services, tenant resources