Everything You Need to Know About Rental Assistance and COVID-19 Relief

The COVID-19 pandemic has wreaked havoc on the U.S. economy over the past year. Many people have lost jobs and are now facing the reality of needing financial help with rent. But the good news is there are resources available for rental assistance and COVID-19 relief.
How Does Rental Assistance Work?
For many years, the federal government has provided rental assistance for low-income households through various programs such as public housing, section 8 project-based rental assistance, and housing choice vouchers. Due to the pandemic’s far-reaching and profound impacts, these programs have been expanded in certain circumstances.
On the federal level, in addition to supporting existing rental assistance programs, the government instituted a moratorium on evictions, which was recently extended through Jan. 31, 2021. This enables renters to remain in their residence even if they’re unable to pay. It also states that landlords cannot charge late fees. It’s worth noting that tenants are expected to pay up to date on rent or work with their landlords to develop a payment plan following the moratorium.
Do I Qualify for Rental Assistance?
The qualifications for rental assistance may vary by state. Be sure to work with your local offices to verify eligibility. Some of the standard requirements states will look for are:
How Do I Receive Rental Assistance?
The Department of Housing and Urban Development (HUD) is providing rental assistance through the individual states. So the most direct path to understanding if you qualify and how to receive rental assistance is to contact your state’s HUD department.
Rental Assistance Alternatives
If you don’t qualify to receive government assistance, there are other options available.
As a tenant or prospective tenant, it’s essential to stay up-to-date on your rights during these ever-changing times. Consult your local government resources for the latest on the eviction moratorium and federal housing relief funding.
The COVID pandemic has been a trial for the country, but know that reaching out for help is one of the strongest things you can do for yourself and your family.
Notice: Information provided in this article is for informational purposes only. Consult your financial advisor about your financial circumstances.
Source: iQuanti, Inc.