When the COVID-19 pandemic initially broke out, millions of jobs were lost in a matter of weeks, pushing the national unemployment rate to an all-time high. To avert a major homelessness problem, an eviction restriction was enacted, prohibiting landlords from evicting residents only for nonpayment of rent.
Although the federal eviction prohibition was set to expire in the summer of 2021, some towns and states chose to extend their safeguards beyond that date. However, such safeguards are wearing thin, as is landlords’ patience. While some landowners had the option of putting their loans into forbearance and deferring installments for a duration of time, this didn’t assist them to meet their obligations in the lack of rental revenue.
Stimulus Check For Landlords
Meanwhile, the Emergency Rental Assistance Program received an estimated $46.5 billion in funding from the past two stimulus check measures. The program’s goal was to assist residents to pay rent so they wouldn’t be evicted, and a lot of that help has already been given. Many renters, on the other hand, are still waiting for their rent reduction applications to be accepted. For one major reason, even individuals who have received rent assistance are still in danger of eviction or homelessness.
The Huntsville Council authorized six million USD in rent assistance Stimulus Check funds last year, but the funds have already been depleted. The $4.7 million in funds allocated this year will be prioritized for people facing eviction. He also stated that people with a family income of 50% or less of the poverty level, as well as those with single household members who are unemployed, should be eligible for a portion of the funds.
The Huntsville Council Has approved $6 million in rent assistance funds last year, but the funds have already been depleted. A total of $4.7 million will be given to people who are close to being evicted. He also stated that people with a family income of less than 50% of the poverty level, as well as those with individual family members who are unemployed, will be eligible for the stimulus check.
