Rent deferral offered

April 2, 2020

By Ben Olson
Reader Staff

The Idaho Apartment Association announced a plan last week to help renters cope with the economic impacts of coronavirus. CDC guidelines have led to reductions in working hours and wages, creating financial hardships for renters, who now must balance financials obligations such as utilities, rent, food and transportation needs on a potentially reduced income.

To accommodate renters in a financial crisis as a result of coronavirus, IAA is promoting rent deferment plans for the month of April, 2020.

“We encourage all property managers to adopt programs that are appropriate for them,” IAA wrote in a release. “These plans allow renters to qualify for rent deferment by demonstrating that their financial status has been directly impacted by the COVID-19 pandemic.”

According to IAA, qualifying renters must demonstrate financial impacts due to the coronavirus pandemic.

“When renters qualify, landlords and management companies may provide plans to defer a portion, or potentially all, of April’s rent payment, to be paid at a later date,” IAA wrote. “Such deferments may allow April rent to be paid over the course of several months or in one lump sum at a later date.”

IAA urged renters who can pay rent to continue doing so, as federal relief money sent to individuals will help ease this burden.

“We recognize property managers may choose to implement rent deferral programs differently,” IAA wrote, “but encourage them to focus on finding a win/win and enabling tenants who agree to a payment plan to stay. We also ask property owners to avoid filing evictions for non-payment due to qualifying reasons in April, when renters communicate and sign rent deferral agreements.”

More information on rent deferment programs including suggested qualification and a rent deferment addendum are available on the IAA website: www.iaahq.com/covid-19.html.