USDA Offers New ERA Incentives and Support for Property Owners
With state and local governments struggling to deliver emergency rental assistance (ERA) to renters and landlords, the U.S. Department of Agriculture (USDA) announced new incentives and support for property owners, property management agents, and USDA field staff.
“USDA will now offer:
- Additional support to property owners waiting to receive the U.S. Treasury’s Emergency Rental Assistance funds by allowing them access to reserves for operating shortfalls;
- Financial incentives to property management agents that tap ERA to clear arrearages; and
- Increased support from USDA field staff to amplify ERA to local leaders and public housing authorities in rural communities.”
The Consolidated Appropriations Act of 2021 provided $25 billion for emergency rental assistance (ERA1), and the American Rescue Plan provided $21 billion for ERA2. Roughly 80% ($20 billion) of ERA1 has not yet been spent.
Also this week: The Treasury Department issued seven new policies — and a warning — to encourage state and local governments to speed up the delivery of ERA; and the Supreme Court struck down the limited federal eviction moratorium, placing millions of renters at risk of losing their homes.
Want more news like this? Join our mailing list.
RELATED NEWS AND TOOLS:
- New Survey Shows Most Still Aren’t Aware of Emergency Rental Assistance
Comprehensive Step-by-Step Guide for People At Risk of Eviction