In one week's time, the second round of the landlord compensation fund will close for applications.
Round 2 includes $70 million in assistance covering rent-owed by eligible tenants that was accrued from April 1st, 2020 through April 30th, 2021. Round 2 is the largest round of LCF funding of the three rounds. As of last Friday, May 7th, only $7 million of the $70 million allotted to Round 2 has been requested.
Start your application today to claim your share of the LCF! Check out to new video explaining the Round 2 application process. It was also confirmed last week that the upcoming Round 3 of funding will be eligible for rent arrearages of past tenants. Round 1 and the current Round 2 of funding was exclusive to current tenants.
To review, the Legislature allocated $200 million in rent assistance to support tenants and housing providers, which includes $150 million for the LCF. This program was designed to provide relief to tenants living in their homes who have been unable to pay rent at any point since April 2020 due to a financial hardship.
Participating housing providers can receive funding for an amount equal to 80% of the rental debt owed by qualified residents from April 2020 through the month the application round they are applying in. They must agree to forgive the remaining 20% of the tenant's debt as part of the grant agreement, and as a condition of receiving payment.
For information on what you will need to apply, please review the Round Two Application Checklist!
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