NAR: Accelerated Rental Assistance Rollout Is Critical
September 2, 2021
The nationwide eviction moratorium is over, the U.S. Supreme Court ruled last week, and now a swift distribution of rental assistance is important to help protect tenants and property owners, writes Erin Stackley, a senior policy representative on commercial issues for the National Association of REALTORS®, for RISMedia. Aid is available to both renters and housing providers.
NAR has been calling for swifter distribution of the $45 billion in federal funds from the Emergency Rental Assistance Program, which is available in every state to bring stability to the market and help avoid unnecessary evictions. As of mid-August, only about $4.2 billion has been allocated due to delays in guidance, according to the National Low Income Housing Coalition.
In many states, housing providers are able to apply for these funds on the behalf of their tenants, as long as they have their permission. They can receive direct payments to cover up to 18 months of rent.
“Ideally, housing providers and tenants will work together to ensure that they receive all the aid they qualify for,” Stackley writes.
Housing providers and renters can learn more about the available aid and who qualifies at www.consumerfinance.gov/renthelp.
“Housing providers were and are being harmed financially by the eviction moratorium, but they are also working with their tenants to find solutions, sometimes taking a loss themselves in the process,” Stackley writes. “The emergency rental assistance program and other relief programs can go a long way toward keeping people housed and keeping struggling rental property owners above water, but people must take advantage of them while they are available.”
“Rental Assistance Is Available and Critical to Preventing Evictions,”RISMedia (Sept. 1, 2021)
Updated: September 24, 2021