Help for the Housing Industry during the Pandemic

Posted by Livable Content Team on Jun 1, 2020 7:17:00 PM

In 2020 the push and pull between lockdowns and eased restrictions impacted housing and housing providers. The rental housing industry was hit hard by the economic downturn brought on by shelter-in-place laws


HEROES Act - Health and Economic Recovery Omnibus Emergency Solution

In May 2020, the U.S. House of Representatives passed the HEROES Act. The biggest housing-related component of the bill remains the Emergency Rental Assistance Act and Rental Market Stabilization Act. Under this program, $100 billion was provided for short- and medium-term rental assistance as well as related costs like utility payments and security deposits. At least 70 percent were used by those earning less than 50 percent of the Area Median Income, and the vast majority of the remainder was available to those making up to 80 percent of the area median income. The HEROES Act included a 12-month moratorium on virtually all non-payment evictions. 


Homeowners also saw some relief and were able to request a 120-day extension on delinquent mortgage payments - extended up to nearly a year if the owner is experiencing financial hardship. Furthermore, the act creates a $75-billion Homeowner Assistance Fund to provide owners with help covering everything from mortgage payments to property taxes and utilities.


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During a rainy season, simply cleaning out the gutters prevents water from entering your property and saves both roofs and foundations from the leaks and structural damage that the stormy season can bring. Clogged gutters can also cause erosion and destroy plantings, as well as provide the perfect breeding ground for rodents and other pests. Even after the gutters are cleared, repairs might be necessary. Identify leaks by filling the gutter with water and watching where it flows. For safety purposes, always clean or repair your gutters from a ladder, and not on top of the roof.

rental housing industry Economic Recovery Republican lawmaker economy House’s HEROES Act