Treasury Publishes Details About the Emergency Rental Assistance Program – Real Estate Investing Today

With the goal of “keeping families in their homes,” the U.S. Department of the Treasury says the Emergency Rental Assistance program makes available $25 billion to assist households that are unable to pay rent and utilities due to the COVID-19 pandemic.  As previously reported, these funds are provided directly to States, Territories, local governments, and Indian tribes.

Grantees can use these funds to provide assistance to eligible households through existing or newly created rental assistance programs.  In addition, eligible households may receive up to 12 months of assistance, plus an additional 3 months if the grantee determines the extra months are needed to ensure housing stability and grantee funds are available.   Indeed…

“An application for rental assistance may be submitted by either an eligible household or by a landlord on behalf of that eligible household.  Households and landlords must apply through programs established by grantees.  In general, funds will be paid directly to landlords and utility service providers.  If a landlord does not wish to participate, funds may be paid directly to the eligible household. Treasury cannot process applications from households and landlords. Please review the list of eligible grantees below and contact your state, local, or Tribal grant recipient for information on how to apply.”

Click here to read the full post at the U.S. Department of the Treasury.

Click here to read an FAQ about the Emergency Rental Assistance Program.

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