Assisted Housing Relief Program: $10 Million
The residential rental industry is experiencing a reduction in rental payments combined with increased maintenance costs. Approximately 9,000 of the 45,000 statefinanced rental units in Maryland are currently delinquent at an estimated cost of $3 million per month.
The Assisted Housing Relief Program is intended to help bring rental delinquencies current for those units and provide real relief for the tenants affected by the COVID-19 pandemic through direct payments to the eligible property management company.
Once a payment for back rent from the Assisted Housing Relief Program is received by a landlord, tenants will have their rental debt eliminated and no longer face the threat of eviction.
The program will include rental units in multifamily projects financed by DHCD’s Community Development Administration using state funds or federal resources, such as the Low-Income Housing Tax Credit program where the unit rent is controlled.