The pandemic relief bill has $25B for rental assistance that landlords can request on behalf of tenants. But the president must sign it and each state must distribute it.
WASHINGTON – The massive pandemic-relief bill passed by Congress offers a wide array of relief for Americans, from a $600 payment for most Americans to business-relief programs such as additional funding for the Pandemic Unemployment Assistance (PUA) and two business loan programs.
Many of the bill’s stimulus packages don’t uniquely affect the real estate industry but still do so indirectly. Couples saving for a new home, for example, could receive an additional $1,200 ($600 per person) within the next two weeks to use toward the downpayment. For a family with two children, it could be $2,400 ($600 more per child).
NAR created a six-page document, NAR’s Federal Advocacy Responses to COVID-19, and posted it online this week. It covers unemployment assistance changes, the Paycheck Protection Program (PPP), PPP tax forgiveness, state and local funding, individual stimulus payments, broadband expansion, tax provisions (related to COVID), tax extender provisions and other changes under the bill. The entire 3,126-page document is also posted online
The bill also exten (…)
Read source article: Landlord Relief Is On the Way But Timeline Still Unclear