NAR joined its coalition partners to urge the Departments of Treasury and HUD to provide clear guidance to state and local governments when distributing federal rental assistance funds. In the letter, NAR urged them to ensure that the funds would be used to pay rental arrears, to ensure rental housing properties remain financially viable. We also urged flexibility for landlords to obtain resident consent, especially when delinquent tenants may be avoiding landlord communications. The letter requests that the existing Treasury FAQ be updated to reflect that. This letter is a follow up to a call that NAR had with staff of the White House, Treasury and HUD earlier this week.
We continue to urge that successful programs will ensure property owners are made whole, and renters aren’t saddled with outstanding debt.