Washington, D.C. (September 23, 2021) – The National Rental Home Council (NRHC), representing America’s leading providers of single-family rental homes, today reported on efforts undertaken by member companies to work with residents experiencing hardship as a result of the COVID health crisis.
Through June 30, 2021, NRHC member companies have collectively provided assistance to over 80,000 resident households since the start of the COVID pandemic in early 2020. Over the past 18 months, member companies have introduced programs that have led to the forgiveness of tens of millions of dollars in rent and other fees; have created flexible payment plans for residents in need; and have offered a host of other accommodations designed to provide a safe and secure housing environment for individuals and families impacted by COVID-induced hardship.
Since the introduction of the government’s Emergency Rental Assistance Program, many NRHC member companies have proactively developed systems and processes to help residents identify appropriate channels to pursue assistance. Companies have hired dedicated staff and reassigned existing personnel to work with, and on behalf of, residents seeking relief. These efforts have so far secured over $50 million of assistance for residents in-need.
NRHC member companies have worked diligently and responsibly during the COVID pandemic
retooling and reinventing approaches to customer care and property management to ensure the needs of residents are properly addressed. During the weeks of economic shutdown in the United States, NRHC successfully urged the Department of Housing and Urban Development to include rental home technicians and trades professionals on the list of emergency workers to facilitate ongoing repair and service requests from residents.
The adept use of customer care technology has enabled companies to respond quickly and proficiently to resident needs. Many companies offer ongoing 24-7 customer service for residents, a continuing standard of care made possible during the COVID crisis through the effective use of remote-work technology employed by call center personnel. As the COVID pandemic limited the ability of individuals and families to visit available rental homes in-person, companies were quick to employ internet-based home viewing software allowing prospective residents to access a range of suitable housing options from the convenience of web-enabled devices.
NRHC member companies also introduced, and continued to offer, a variety of services designed to provide assistance for residents on the path to home ownership. Many companies allow residents the option of reporting on-time rent payments to credit agencies, a practice recently adopted by the Federal Housing Finance Agency. A growing number of companies also provide resident-specific credit counseling and financial literacy services in partnership with local non-profit organizations. Some NRHC member companies also offer formal ‘lease-to-own’ and ‘first look’ programs allowing residents an expedited means of purchasing their rental property.
“NRHC member companies have long-embraced a culture of ‘resident first’. That commitment has been on vivid display during the many months of the COVID health crisis as member companies worked proactively with residents in need of economic assistance,” said David Howard, executive director of NRHC. “And there’s more that will be done as companies remain committed to assisting residents who encounter COVID-related hardship.”
The National Rental Home Council (NRHC) is the nonprofit trade association representing the singlefamily rental home industry. NRHC members provide families and individuals with access to highquality, 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
Contact: David Howard, email@example.com