New York rent relief: Here’s what small landlords need to know

New York State received $2.4 billion for the Emergency Rental Assistance Program, a long awaited relief package for renters and landlords who have struggled for over a year due to the pandemic. 

The rental assistance program covers:

  • Up to 12 months of rental arrears payments for rent accrued starting on or after March 13, 2020;

  • Up to three months of additional rent assistance for future rent (if the household spends 30% or more of its gross monthly income to pay for rent and if the household also applies for rental arrears payments)

  • Up to 12 months of electric or gas utility arrears payments for arrears that have accrued on or after March 13, 2020 (if the household also applies for rental arrears payments).

How does this work for small landlords?

Both landlords and tenants can submit applications, and relief funds will be sent directly to landlords. Tenants will be notified of the payments made. Landlords and small property owners are required to respond and agree on certain terms and provide information in order to accept rental arrear payments. In the event that landlords are unable to respond or cannot be located, funds will be held for up to 180 days until the landlord can be located and until the required information is collected.

There is a separate stream of funding for landlords that is not yet available — $100 million in state funding, considered supplemental costs for ERAP, will be available to landlords if the tenant is unable to sign off on the rental assistance application. That funding will not be distributed until A.7280/S.6481 is signed into law. Homeowners can contact our Homeowner Hub for more information on the program and assistance with navigating the application. 

Find out more information on the ERAP program and eligibility requirements: https://otda.ny.gov/programs/emergency-rental-assistance/

Cristian Salazar