|Call to Action|
The National Apartment Association has launched a grassroots alert asking Congress to include apartments in any relief package, including relief for residents and mortgage forbearance for owners/operators. The time frame is tight as it all depends on the senate acting before it adjourns in the coming days. Below is the text of the ask to Congress and a link to the alert.
We urge you to voice these concerns to Senators and Representatives.
Thank you for the bipartisan work that has already been done by Congress to provide relief to American families and businesses impacted by the COVID-19 outbreak. As a member of the apartment industry, I take seriously the responsibility to ensure our residents have a safe place to call home. Apartment operators and employees are front-and-center in responding to this crisis.
We urge Congress to enact the following proposals to help renters and housing providers:
Direct, Sustained Assistance for Renters: COVID-19 will cause financial challenges for many renters. Congress should provide short-term financial assistance for renters, expand unemployment income for individuals who lose their job because of COVID-19 and exclude unemployment income from taxes for 2020.
Forbearance on Multifamily Mortgages and other Financial Obligations: Most rental properties are owned by individuals and small businesses that must pay mortgages, utilities, payroll, insurance and taxes. If residents cannot pay their rent because of COVID-19, then owners are at risk of not meeting their obligations.
Guardrails for Eviction Moratoria: We caution policymakers against blanket eviction moratoriums. However, if imposed, any federal moratorium on evictions should be targeted to COVID-19-related circumstances and include the following guardrails:
Critical Tax Relief for Individuals and Affected Industries:
The enormity of the challenge we face is constantly evolving. The proposals outlined here we hope can be a first step to protect the viability of the rental housing industry and the homes of 44 million American families that rent.