As part of the Administration’s coordinated response to the COVID-19 pandemic, Governor Phil Murphy and Lieutenant Governor Sheila Oliver announced the creation of the Small Landlord Emergency Grant Program. The program, administered by the New Jersey Housing and Mortgage Finance Agency, will provide emergency grant funding to small property owners for COVID-19 related decreases in rent revenue for a four-month period between April and July 2020.
Funded through the CARES Act, grant amounts will be generated based on the total amount of missed rental payments and the number of COVID-impacted rental units that serve low- and moderate-income tenants. Landlords who receive assistance will be required to pass along benefits to their tenants by forgiving back rent and late fees accumulated by COVID-19 impacted units.
“To emerge stronger from this crisis, we need to make direct investments in our hardest hit neighborhoods and communities,” said Governor Murphy. “Ensuring that responsible landlords can continue to maintain their properties and provide quality housing to our tenants is essential to our recovery. Through this program, we can also provide direct support to COVID-impacted renters by forgiving back-rent.”
“We know that many of New Jersey’s landlords are not companies or corporations. Rather, they are families and individuals. And like the families they rent to, they are struggling because they are often locked out of access to capital and federal resources,” said Lt. Governor Sheila Oliver, who serves at Commissioner of the New Jersey Department of Community Affairs (DCA) and Chair of the New Jersey Housing and Mortgage Finance Agency (NJHMFA) Board. “The number one priority of this program is to offer much-needed relief to small landlords, who will in turn pass along the benefits to their tenants who are also fighting to stay afloat in the midst of this ongoing public health and economic crisis.”