How to Create a Rent Deferral Program

March 27, 2020

You may have heard the news that the U.S. Department of Housing and Urban Development (HUD) has been directed to suspend ALL evictions and foreclosures through the end of April.

As a response, many landlords have decided to waive rental payments and fees for tenants who lost their source of income due to COVID-19. The Utah Apartment Association has released a guide to determining what steps you should take as a landlord. If you’re interested in creating a rent deferral plan, here’s how to extend the policy to tenants who qualify.

Creating a rent deferral program

  1. Determine what your policy is going to be and who will qualify.
  2. Let your tenants know about the policy and how they can apply.
  3. Review the requests and inform the tenant.
  4. Put together a Rent Deferment Agreement for each approved person. Here are a few examples of what that could look like: 1 // 2

USA COVID-19 Emergency Rental Assistance Programs

Many people have been directly affected by the COVID-19 pandemic and the economic downturn and are in great need of assistance.
Different cities and states help to pay past-due, unpaid rent and utilities for individuals and families with low income by creating or expanding rental assistance programs.

More resources for landlords:

Looking for more updates as they happen? Here are a few places you can get the latest news:

We’re here to help you navigate renting during these unprecedented circumstances and will be providing updates frequently. In the meantime, stay safe!

Originally published on Groundwork

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