Congress Missed a Chance to Protect Apartments – We Can’t Let it Happen Again
All of us at NAA hope you and your families are staying safe and well. COVID-19 continues to be an enormous challenge for our nation and our industry. Congress needs to pass relief for the rental housing industry and fix a number of problems in the CARES Act.
Congress needs to:
- Create an emergency rental assistance program for those who are impacted by the COVID-19 crisis and struggle to cover housing expenses.
- Better tailor the CARES Act eviction moratorium provision and safeguard owners’ ability to effectively manage their communities.
- Allow more housing providers access to mortgage forbearance and ensure fairness and flexibility in its terms.
- Provide financial assistance for property-level financial obligations such as property taxes or insurance payments and extend credit to multifamily mortgage servicers.
- Expand the Small Business Administration’s Paycheck Protection Program to include all multifamily businesses.
A recently introduced bill would suspend rent payments. This is NOT what we need! Send your message to Congress today! There are tens of thousands of rental housing owners, operators, and property management firms.
NAA is undertaking this effort as part of a broad coalition of rental housing providers representing the entire industry. If all of us make our voices heard, we can secure the relief that is desperately needed. For more information, visit naahq.org/phase4.