COVID-19: Real Estate Industry Update
March 21, 2020
The National Leased Housing Association issued a letter to Congress on Thursday March 19th, 2020 asking for emergency rental assistance. The letter outlines the following proposed assistance:
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Establish an Emergency Rental Assistance Fund to help with rent and utilities due to a pay cut of job loss associated with COVID-19.
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Asking Congress to provide supplemental financial assistance for both HUD and Rural Housing programs.
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Eviction moratoriums are being established across the country. This includes Michigan.
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Support to rental property owners to cover gaps in rental assistance and mitigate the loss to the property owners.
Contact the Blystone & Bailey Real Estate Team with additional questions. We will continue to monitor this as legislation comes out of congress. Please visit the link below for the full letter to Congress.