Treasury Releases Revised Rental Assistance FAQs

Last week the United States Department of Treasury released a revised set of frequently asked questions regarding the Emergency Rental Assistance program available for residential tenants. The guidance is intended to speed up the distribution of rental assistance funding to tenants and landlords in need.

Most notably, the guidance says assistance should be offered to renters first and offered directly to tenants when landlords decline to participate. It also outlines that Emergency Rental Assistance funds should cover rent in arrears.

In addition, the assistance may prohibit a landlord from pursuing eviction when a tenant is receiving assistance. The updated guidance is intended to help distribute rental assistance to landlords and tenants more expeditiously.

MBA is working on analyzing this updated guidance and will provide a more detailed analysis shortly.