Rental Assistance Finder Launched Today by Consumer Financial Protection Bureau

A new Rental Assistance Finder launched today for renters throughout the country to find help location rental assistance programs and housing counselors. The site was designed and is hosted by the U.S. Consumer Financial Protection Bureau.

Click here. 

Meanwhile, property owners remain focused on supporting their renters, according to a survey conducted by the national multifamily housing council. A new survey indicated that 100% of multifamily firms are working with residents facing financial hardships since the onset of the COVID-19 crisis. This new data comes in as the $4 trillion of economic relief--including $47 billion in rental assistance--has stabilized the rental market, allowing the federal eviction moratorium to end on July 31. 

The NMHC encourages its members to work with residents on emergency measures including:

• Encouraging residents to seek rental assistance and apply on behalf of residents or assist with the application process where able.
• Offer solutions to help residents avoid eviction including payment plans, deferments and extended or flexible lease periods for residents who fell behind in rent payments due to the pandemic.
• Provide notice of at least 30 days to residents before filing an eviction for non-payment of rental obligations.
• Work with jurisdictions to break down artificial barriers to rental assistance benefits that stand in the way of residents receiving the help they need, like onerous documentation requirements.
• Identify governmental and community resources to broadly help residents secure food, financial assistance, and healthcare and share that information with residents.
• Communicate with residents that it is a priority for the industry to partner with them to help them retain their housing.

The NMHC Pulse Survey on Eviction Mitigation Practices ran from July 19 to 26, with 74 leading multifamily firms responding. One-hundred percent of firms offered solutions for residents facing financial hardships. The most widely offered assistance options included:

• Payment plans – 100%
• Waived late fees – 96%
• Deferred payments – 78%
• Extended, shortened or other changes to lease terms – 58%
• Cash for keys – 54%
• Fee-free ability to charge rent on credit card – 50%
• The survey also asked what additional steps firms took to support residents during the pandemic:
• Increased cleaning and sanitation – 95%
• Connecting residents with food backs, charities and other local support resources – 86%
• Informing residents of healthcare protocols and best practices – 86%
• Hosting virtual social or exercise events – 57%
• Creating on-site services at communities to support residents – 50%
• Made it easier to work from home – 49%