NEW JERSEY APARTMENT ASSOCIATION APPLAUDS THE EXPANSION OF THE SMALL LANDLORD GRANT PROGRAM AND URGES CONGRESS TO ACT ON MEANINGFUL RENTAL ASSISTANCE

(MONROE TOWNSHIP, NJ) – The New Jersey Apartment Association (NJAA) is encouraged by the expansion of the Small Landlord Emergency Grant (SLEG) program administered by the NJ Housing and Mortgage Finance Agency (HMFA). The original program, which was limited to landlords that owned between 3-10 units, has now been expanded to assist landlords that own up to 30 units in the state.  Additionally, a new application window of September 28, 2020, through October 13, 2020, is being provided.

“From the start of the COVID-19 pandemic, NJAA has been advocating for rental assistance programs at both the state and federal levels of government. Landlords of all sizes are feeling the impact of this virus, and small landlords, which make up half of the rental housing stock, are most at risk.  These property owners have invested their life savings into their properties, yet due to no fault of their own, some are looking at foreclosure while others are looking at bankruptcy.  In short, they need help now.  It is my hope that the expansion of this program will provide that help,” said David H. Brogan, executive director of NJAA.

He continued, “The multifamily ecosystem which consists of tenants, landlords, employees, municipalities, and our state government plays a critical role in not only housing tens of millions of people, but it also plays a significant role in our state’s economy. The use of federal and state funds to support tenants and landlords facing financial challenges is imperative toward keeping tenants in their homes and the multifamily ecosystem intact. We applaud the HMFA for taking this important step,”

“Ultimately, however, more funding is needed and NJAA urges Congress to enact meaningful rental assistance now. Any further delay by Congress will put the multifamily industry in peril,” stated Brogan.

The New Jersey Apartment Association members continue to work with affected tenants by creating alternate payment plans and waiving late fees during COVID-19; however, state and federal rental assistance for those impacted by COVID-19 is absolutely necessary to help tenants, landlords, municipalities and the entire multifamily ecosystem.

The New Jersey Apartment Association (NJAA) is the premier trade association representing all facets of the multifamily housing industry, including market rate and affordable housing owners, managers, and developers, as well as suppliers. NJAA’s membership owns and manages over 220,000 apartments, providing quality housing to over one million New Jerseyans. 

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