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:
Establish an Emergency Rental Assistance Fund to help with rent and utilities due to a pay cut of job loss associated with COVID-19.
Asking Congress to provide supplemental financial assistance for both HUD and Rural Housing programs.
Eviction moratoriums are being established across the country. This includes Michigan.
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.