CLARK BARS UPDATE - AUGUST 4TH 2020
Clark & Walker, P.C. - Attorneys at Law
Date: August 4, 2020
COVID-19 - GOVERNOR RELEASED RENTAL PROPERTY OWNER PRESERVATION FUND - APPLY TODAY!
By: Christopher R. Walker
The Governor just released the details of the rental property owners preservation fund - https://gn.ecivis.com/GO/gn_redir/T/51fy0fcw0vnm
. The Rental Property Owner Preservation Fund (RPOPF), established by the Governor's Office, provides assistance to rental property owners across the State of Arizona who are facing rental income issues due to the COVID-19 pandemic.
A property does not have to be at risk of foreclosure in order to be eligible for this funding. This program utilizes funds from the Emergency Crisis Contingency and Safety Net fund to provide the needed assistance to eligible landlords and property owners, who have faced hardships, directly or indirectly, due to the impact of the coronavirus and are struggling to make their mortgage payments as a result of non-payment from tenants.
The program’s goal is to aid Arizona’s rental property owners in avoiding foreclosure by assisting with lost rental income due to nonpayment by their tenants. As of now only $5M is available in the fund ($2.5 set aside for larger operators). We urge all members that have been damaged by unresponsive residents to apply to the fund immediately as it is a first come first serve basis.
If you have questions about this information, please consult with an attorney.