$25 Million in CARES Act Funding to be Allocated to Reimburse Small Landlords Whose Tenants Missed Rent Payments between April and July 2020
As part of the Administration’s coordinated response to the COVID-19 pandemic, Governor Phil Murphy and Lieutenant Governor Sheila Oliver announced the creation of the Small Landlord Emergency Grant Program. The program, administered by the New Jersey Housing and Mortgage Finance Agency, will provide emergency grant funding to small property owners for COVID-19 related decreases in rent revenue for a four-month period between April and July 2020.
Funded through the CARES Act, grant amounts will be generated based on the total amount of missed rental payments and the number of COVID-impacted rental units that serve low- and moderate-income tenants. Landlords who receive assistance will be required to pass along benefits to their tenants by forgiving back rent and late fees accumulated by COVID-19 impacted units.
One-third of program funds will be reserved for applicants who are registered in DCA’s RIMS database as individual or family owners. Qualified applicants must meet the following specifications:
- Owners with properties that have at least 3 but no more than 10 total housing units;
- Owners with properties that are not seasonal or vacation rentals;
- Properties must have current fire inspection certificates as of March 9, 2020;
- Owners of properties with at least one non-vacant rental unit impacted by COVID-19 between April and July 2020; and
- Owners with properties that have low- to moderate-income rent levels or rent based on up to 80% of the median area income.
Applications must be submitted between August 19th at 9:00 a.m. and August 26th at 1:00 p.m. to be considered.
Grant funding will be allocated on a case by case basis, based on the number of COVID-impacted units, and the amount of missed rent. Applicants must be the Primary Property Owner of a residential rental property in New Jersey and be registered with DCA’s Bureau of Housing Inspection as of July 17, 2020. Applicants can check here to see if their property is registered.
For more information on the Small Landlord Emergency Grant Program, visit www.njhousing.gov/rentals/sleg