Memo Regarding Rental Assistance Programs
PDF's with More Info: One-Shot Deals and Rent Vouchers
Chart of "Area Median Income" for Assistance Qualifications
Coronavirus: What Landlords and Building Owners Need to Know
SBA Disaster Relief Loans
Banks Offering to Help Those Affected by COVID-19
Nearly a Million New York City Apartments Could Get a Rent Freeze
COVID Rent Relief Extension Program
UPDATE:
Emergency Rental Assistance Program was passed by the New York State legislature. This program has not yet commenced. However, if is designed to distribute funds for arrears that accrued after March 13, 2020.
Eligible tenants will be able to receive twelve months of rent with the possibility of any additional three months if tenant meets certain criteria and funds are available. Lower income tenants receive priority.
Payments are typically made directly to a cooperative and responsive landlord but could be made directly to the tenant to give to landlord.
If you file an application for relief, any pending eviction is stayed and any proceeding commenced is also stayed while the application is pending. It is not yet clear whether this stay applies to holdover proceedings or for pre March 13 arrears.
It appears that the landlord and tenant have the option whether or not to accept these funds. If accepted, it will be full satisfaction of the arrears, late fees are waived, the monthly rent is frozen at the current rate for one year, and the landlord must refrain from commencing legal action for terminating the tenant’s lease without cause or nonpayment for one year after receipt of funds. The funds are held for 180 days if rejected by landlord or tenant. IMPORTANTLY, the rejection can be used as a affirmative defense by tenant in a pending non payment proceeding for monies approved, and property owner cannot initiate a proceeding for a monetary judgment for these funds. If property owner does not accept these funds within twelve months, this could lead to a waiver.
A good place to begin is the American Rescue Plan Act of 2021, You can also contact the COVID Rent Relief Extenstion Program at 833499-0318 or, of course, my office.
PDF's with More Info: One-Shot Deals and Rent Vouchers
Chart of "Area Median Income" for Assistance Qualifications
Coronavirus: What Landlords and Building Owners Need to Know
SBA Disaster Relief Loans
Banks Offering to Help Those Affected by COVID-19
Nearly a Million New York City Apartments Could Get a Rent Freeze
COVID Rent Relief Extension Program
UPDATE:
Emergency Rental Assistance Program was passed by the New York State legislature. This program has not yet commenced. However, if is designed to distribute funds for arrears that accrued after March 13, 2020.
Eligible tenants will be able to receive twelve months of rent with the possibility of any additional three months if tenant meets certain criteria and funds are available. Lower income tenants receive priority.
Payments are typically made directly to a cooperative and responsive landlord but could be made directly to the tenant to give to landlord.
If you file an application for relief, any pending eviction is stayed and any proceeding commenced is also stayed while the application is pending. It is not yet clear whether this stay applies to holdover proceedings or for pre March 13 arrears.
It appears that the landlord and tenant have the option whether or not to accept these funds. If accepted, it will be full satisfaction of the arrears, late fees are waived, the monthly rent is frozen at the current rate for one year, and the landlord must refrain from commencing legal action for terminating the tenant’s lease without cause or nonpayment for one year after receipt of funds. The funds are held for 180 days if rejected by landlord or tenant. IMPORTANTLY, the rejection can be used as a affirmative defense by tenant in a pending non payment proceeding for monies approved, and property owner cannot initiate a proceeding for a monetary judgment for these funds. If property owner does not accept these funds within twelve months, this could lead to a waiver.
A good place to begin is the American Rescue Plan Act of 2021, You can also contact the COVID Rent Relief Extenstion Program at 833499-0318 or, of course, my office.
