Rental assistance is available for landlords and one lawmaker wants to ensure local landlords get their fair share.
Up to $30,000 in grant funds can be applied for by property owners who rent, but haven’t received payment from renters due to the uncertainty of the pandemic, according to Sen. Rita Potts Parks.
The Mississippi Development Authority launched the application process recently in order to provide assistance to property owners and tenants whose resources have been impacted during the pandemic.
“The Legislature dedicated $20 million in CARES Act dollars to the program, which will be split between $15 million to residential property owners and $5 million to commercial property owners,” Parks told the Daily Corinthian. “Any commercial or residential property could be awarded up to $30,000.”
The bill states that because of the difficulties caused by COVID-19 many renters have been unable to make payments which could put them at risk of becoming homeless. “These lack of payments also create a crisis for independent rental businesses who then risk foreclosure,” added Parks.
“The benefits are multi-faceted. Seventy-five percent of the funds ($15 million) will be allocated for residential purposes to citizens, via application through their landlords, who have fallen on hard times.
“This program will erase rental debts through the end of the year. The remainder ($5 million) will go toward commercial purposes, helping small business owners realize income where they would have had significant losses.”
Those who are eligible and can show lost rental income from March up to Dec. 30 can apply for these grants through MDA in order to be reimbursed. Application deadline is Nov. 15.
Any rental business that is approved and receives grant funds shall consider any rental payments due under a rental agreement at the property for which the grant was made, as having been paid in full through Dec. 30. They also cannot evict any tenant for nonpayment for those dates.