What we know about rental assistance in the CARES ACT
Some of your residents may have asked about emergency rent assistance, and right now, no one has all the answers. Last week, Vickie discussed the CARES Act of 2021 and the provisions for helping residents get caught up on rent.
This week, she tells us what she’s been able to find and the guidance we’re still waiting on from the U.S. Department of Housing and Urban Development.
For Owners and PHAs
HUD “strongly encourages” you to arrange repayment agreements with residents who are having difficulty paying rent.
According to HUD, ” All HUD-assisted renters are eligible to report any decreases in wages, job hours, and family income so that income-based rent payments can be temporarily decreased and housing subsidies can be temporarily increased.”
The agency says the best option during the eviction moratorium is to pay your rent if you are able. You should reach out to your landlord and try to work out a repayment agreement.