WASHINGTON, D.C. – Statement from National Multifamily Housing Council (NMHC) President Doug Bibby in response to the Federal Housing Finance Agency’s decision related to mortgage forbearance and evictions.
"This crisis is testing all of us – every industry, every family. No one should lose the roof over their head during a pandemic. That’s why our members are taking action and why NMHC proactively issued a series of principles to assist renters, including a halt to COVID-19 related evictions and the establishment of payment plans for residents who are unable to pay their rent because of the outbreak."
"We welcome the Federal Housing Finance Agency’s decision today to offer mortgage forbearance to multifamily housing property owners who suspend evictions for those who have been financially impacted by this public health emergency. This is a necessary step. Most property owners are small businesses and they are committed to working with public officials and residents to keep families safe during this national crisis."
Last week, NMHC released a statement encouraging the apartment industry to consider adopting principles to help America’s renters retain their housing during this crisis. NMHC recommends that apartment firms consider adopting the following principles to help America’s renters retain their housing during this crisis:
- Halt evictions for 90 days for those who can show they have been financially impacted by the COVID-19 pandemic. (This would not apply to evictions for other lease violations such as property damage, criminal activity or endangering the safety of other residents of the community.)
- Avoid rent increases for 90 days to help residents weather the crisis.
- Create payment plans for residents who are unable to pay their rent because of the outbreak and waive late fees for those residents.
- Identify governmental and community resources to help residents secure food, financial assistance and healthcare and share that information with residents.
- Communicate to residents that it is a priority for the industry to partner with them to help them retain their housing.
- Develop a response plan for potential COVID-19 exposure.
Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the trillion-dollar apartment industry. We bring together the prominent apartment owners, managers and developers who help create thriving communities by providing apartment homes for 40 million Americans. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, e-mail the Council at email@example.com.
- Real Estate Coalition to President-Elect Joe Biden Regarding COVID Relief
- NMHC COVID-19 Weekly Update (January 15, 2021)
- NMHC COVID-19 Weekly Update (January 8, 2021)
- Treasury and IRS Issue Guidance Clarifying Eligible PPP Expenses Now Deductible
- Treasury Publishes Emergency Rental Assistance Program Details, Including Jan. 12 Deadline