Governor Kathy Hochul has announced that $125 million in state funding is now available to help landlords who are unable to participate in the New York State Emergency Rental Assistance Program (ERAP) because the federal requirement for tenants to participate in the application process cannot be satisfied. Applications for the New York State Landlord Rental Assistance Program (LRAP) are now being accepted. Click here to review the application. Landlords renting out units in New York are eligible for LRAP funds under the following circumstances:
· The landlord has a tenant who left an apartment with unpaid rental arrears, OR the landlord has a residing tenant with rental arrears who refuses to apply for ERAP and the landlord has encouraged tenant to participate in ERAP at least three times, at least two of which attempts must be in writing;
· The rent for the apartment is at or below 150% of the Fair Market Rent (FMR) for the location of the apartment; and
· The landlord has documented rental arrears owed for the tenant at their residence for rents accrued on or after March 1, 2020.
Click here to review the documentation requirements for LRAP. Restrictions to ERAP funds also apply to the receipt of LRAP funds. Owners with existing ERAP accounts can use their accounts to apply for LRAP following these instructions.
For the first 45 days of the program, priority in the LRAP program will be given to landlords who own a building with fewer than 20 units. After 45 days, applications for all eligible landlords will be reviewed on a first-come, first-served basis for as long as funds remain.
If you have any questions on how to make use of this program, please do not hesitate to contact us.