Washington, D.C. (August 4, 2021) – The National Rental Home Council (NRHC), representing the leading housing providers in America’s single-family rental home industry, today released the following statement in response to President Joe Biden’s efforts to ensure property owners and tenants receive the rental assistance they need as part of the latest moratorium on evictions.
“NRHC members remain committed to working with their tenants and state and local governments to secure rental assistance for those experiencing financial hardship due to the COVID pandemic,” said David Howard, executive director of NRHC. “We are all living through an extended period of uncertainty brought on by the pandemic, but we are encouraged by the Biden administration’s attention to the need for expedited relief for residents and property owners struggling with the impacts of the COVID crisis.”
Single-family rental homes account for more than half of the nation’s total rental housing, and many of the owners of these properties have struggled as a result of the economic fallout from the COVID pandemic. According to a nationwide survey of single-family rental home owners conducted on behalf of NRHC earlier this year, half of America’s individual rental home owners have residents who have missed payments since March 2020, causing more than one-third of those owners to dip into personal savings – and 1-in-5 to take out additional loans – to cover shortfalls.
“The single-family rental home industry stands ready to be part of the solution, and after enduring months of delay by all levels of government in distributing this critical assistance, America’s renters and rental home providers are desperate for relief. We are counting on the Biden administration to urge states and localities to remove any existing barriers that have contributed to the disbursement bottleneck.”
As part of the effort to encourage the expedited disbursement of rental relief funds, NRHC has produced a Property Owners Guide to Rental Assistance to provide property owners with relevant insight into key aspects of the federal rental assistance program and present a framework for navigating the application process. To download a copy of the guide please visit the NRHC website at www.rentalhomecouncil.org.
The National Rental Home Council (NRHC) is the nonprofit trade association representing the single-family rental home industry. NRHC members provide families and individuals with access to high-quality, single-family rental homes that contribute to the vitality and vibrancy of neighborhoods and communities. For more information on NRHC or the single-family rental home industry visit www.rentalhomecouncil.org