$125 million dollars is now available to landlords in New York State. They can apply if they never got rent from tenants who chose to not apply for the Emergency Rental Assistance Program or simply left while owing rent.
Landlords could begin applying Thursday. They may get up to 12 months of past due rent.
Priority will be given to landlords owning 20 or less rental units and who apply to the program within 45 days of its launch.
In order to be eligible, landlord’s units need to be at or below 150% of fair market rent in the area they’re in. Rental arrears owed after March 1, 2020 need to be documented and show tenants vacated or declined to apply for the emergency rental program.
So far $1.8 billion of the rental assistance has been distributed. Governor Kathy Hochul has asked for more because the funds are running low. Applications are still coming in.
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