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What’s the latest news regarding the new CHAP money?

 

As you know, 2020 saw the first disbursement of this money go toward rental assistance for tenants, but there weren’t many stipulations regarding who could qualify for it. Then in December, it was announced that landlords could apply for it on behalf of themselves and their tenants, but they only had about two weeks to send in their applications because that money would run out at the end of the year. 

 

I submitted 15 applications and have been following up with the DSS over the past couple of months, and I didn’t hear anything back until the other day. They informed me via email that there was no more landlord assistance money available and they couldn’t fund my applications. However, they also said that there was more money for 2021, but the renters had to apply for it themselves—landlords can’t apply on their behalf. 

 

They also gave me the stipulations of who can qualify for this rental assistance. A one-person household, for example, can’t make more than $42,000 annually if they want to qualify. A two-person household can't make more than $48,000 if they want to qualify. The scale goes all the way up to an eight-person household, which can’t make more than $79,300 in order to qualify. 

 


The Las Vegas NARPMⓇ chapter (in partnership with Hopelink) is throwing a fundraiser for rental assistance in response, and this fundraising is more important than ever.


 

If you take this at face value it sounds reasonable. However, we now have a state mandate that mimics the CDC mandate that states that landlords aren’t allowed to take legal action against tenants making less than $99,000 a year. So now we have a group of people who won’t be able to apply for the CHAP money. 

 

What do we do about this situation? I don’t have an answer at this time, but I can tell you that the Las Vegas NARPMⓇ chapter (in partnership with Hopelink) is throwing a fundraiser for rental assistance in response, and this fundraising is more important than ever. There will still be a group of people who can’t qualify for this CHAP money but have increased expenses due to the fact that their kids can’t be in school. In order for them to go to work, they have to pay for full-time childcare. On top of that, they have increased medical expenses due to COVID. 

 

Overall, they’re struggling and need assistance. I can’t stress enough the fact that every little bit counts if you want to be part of the solution, donate to this fundraiser, and help lift this crisis. That way, when all of this is over, we’re not looking at a housing crisis ala 2008. In that economy, everyone was affected by the downturn.

 

As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’d love to help you.