Final round of Landlord compensation, available
By Paul Hall on Wednesday, June 2nd, 2021 in More Top Stories Northeastern Oregon News
EASTERN OREGON – (Information provided by Oregon Housing and Community Services) Round three of the Landlord Compensation Fund program has opened (June 1, 2021) and will include at least $60 million in assistance covering rent-owed by eligible tenants that was accrued from April 1, 2020 through June 30, 2021.
The Oregon Legislature allocated a total of $150 million to the Landlord Compensation Fund (LCF), to be distributed in multiple rounds. “This is the final opportunity for landlords to apply to get assistance to cover rental debt for all tenants, regardless of income. We encourage landlords to apply by June 18. All funds must be awarded by June 30,” said Oregon Housing and Community Services Director Margaret Salazar.
Oregon’s Landlord Compensation Program is designed to provide relief to residential landlords who have been unable to collect rent due to tenant hardships. Participating landlords can receive up to 80% of rent owed from April 1, 2020 to June 30, 2021 for qualifying residents. For the first time, landlords can apply for LCF funds to cover former renters.
Oregon Housing and Community Services’ website includes updated Declaration of Financial Hardship for former tenants. To be eligible for assistance for rent owed by a former tenant, the landlord must provide the Declaration of Financial Hardship and the current address of their former tenant.
As outlined in statute, landlords may be eligible to receive funding for an amount equal to 80% of the rental debt owed by qualified residents. Participating landlords must agree to forgive the remaining 20% of the tenant’s debt as a condition of receiving payment.
“In Round Three, we will move to processing applications on a rolling basis until remaining funds are obligated. We plan on reviewing applications June 4th, June 11th and June 18th. We encourage landlords to apply as early as possible in this next round,” said Julie Cody, Director of Affordable Rental Housing.
A media briefing was held on May 27, 2021 that provided an overview of the program. To view the briefing please visit: http://bit.ly/LCFbriefingMay27.
