By Ben Olson
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.
While we have you ...
... if you appreciate that access to the news, opinion, humor, entertainment and cultural reporting in the Sandpoint Reader is freely available in our print newspaper as well as here on our website, we have a favor to ask. The Reader is locally owned and free of the large corporate, big-money influence that affects so much of the media today. We're supported entirely by our valued advertisers and readers. We're committed to continued free access to our paper and our website here with NO PAYWALL - period. But of course, it does cost money to produce the Reader. If you're a reader who appreciates the value of an independent, local news source, we hope you'll consider a voluntary contribution. You can help support the Reader for as little as $1.
You can contribute at either Paypal or Patreon.Contribute at Patreon Contribute at Paypal