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Is there any financial support available to landlords whose tenants missed rent payments?
The NJHMFA Small Landlord Emergency Grant (SLEG) Program provides financial support for small rental property owners (and, indirectly, to renters) who are struggling due to the COVID-19 emergency.
The Program will reimburse small landlords for rent payments that were missed or reduced in April, May, June, and/or July 2020. Only properties with low-to-moderate rent levels are eligible. Grantees must pass the benefit on to their tenants by forgiving outstanding back rent for COVID-impacted units for the April-July 2020 period.
The application window has closed.
Applications are being sorted into a computer-randomized order to give each application an equal chance of being funded. Applications will be reviewed on the basis of the eligibility and completeness.
Applicants will be notified through the application portal whether their application has been selected for award, placed on a waitlist, or denied. All applicants that are selected for award will have 5 business days to upload their banking details and a W-9 to the application portal for subsequent Automated Clearing House (ACH) payment.
To be eligible for the SLEG Program, the applicant and the applicant's rental property have to meet the eligibility criteria.
The applicant must:
- Be the Primary Property Owner of a residential rental property (i.e., not condominium or cooperative) property in New Jersey and registered as such with New Jersey Department of Community Affairs' (NJDCA) on the Bureau of Housing Inspection Registration Inspection Management System (RIMS) database.
- NOT be a government entity or public housing authority.
- Be current on all state and local tax obligations.
The applicant's property must:
- Contain at least 3 and no more than 10 total housing units.
- NOT be a seasonal or vacation rental property.
- Have a fire inspection certificate, current as of March 9, 2020, from the Local Enforcement Agency responsible for fire safety. Please note: if the applicant's municipality does not provide annual fire inspections, NJHMFA reserves the right to screen the property for outstanding life safety code violations in NJDCA's RIMS database.
- Contain at least one non-vacant COVID-impacted unit with a net rent deficit between April and July 2020. This means that the total rent due from the tenant in this four-month period exceeds the amount paid by the tenant during this period.
- Rents charged to COVID-impacted unit(s) are no greater than the maximum rent thresholds listed in the table available on the SLEG Program page. If a unit has an above-threshold rent for its bedroom size, that unit is wholly ineligible for assistance.
Grant Award Amounts
NJHMFA has been allocated a total of $25 million in federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to administer the SLEG Program. There are no preset minimum or maximum award amounts for this program. The grant award amount will be calculated on the basis of the number of eligible, COVID-impacted units in the property and the net rent deficit for each eligible unit for the four-month period between April and July 2020.
To ensure that the SLEG Program serves "mom-and-pop" property owners vulnerable to financial stress during COVID-19, at least one-third of program funds will be reserved for those applicants who are registered in the NJDCA RIMS database as individual or family owners.