$125 million in state relief funds are now available for landlords whose tenants did not participate in the New York State emergency rental assistance program, Governor Kathy Hochul announced last week.
The program, which is administered by the State Office of Temporary and Disability Assistance, began accepting applications on October 7. Applicants may receive up to 12 months of past-due rent if ineligible for the federally-funded program because their tenants either did not complete an application or left their unit in arrears. Priority is to be given to landlords who own small-to-medium-sized buildings (meaning 20 or fewer units).
"Getting pandemic relief money out the door to New Yorkers has been a top priority for my administration since day one," said Hochul in a news release. "I am proud that our state's rental assistance program has already provided much needed relief to tens of thousands of New Yorkers, but there are still many small landlords ineligible for that relief because of federal rules who also need our help. This funding is a critical tool to close that gap and help more New Yorkers recover from the pandemic."
Eligible landlords are those who own units leased at or below 150 percent of fair market rent for their location, and must have documented rental arrears accumulated after March 1, 2020. Applications submitted within 45 days of October 7 will be given priority.
An application for state funding can be completed through the state's online portal. More information is available at otda.ny.gov/lrap.
