Cinnaire has established the COVID-19 Resident Rental Relief Fund to provide support to renters throughout our footprint that have suffered financial hardship due to the pandemic. Cinnaire has contributed $250,000 to the fund and Delta Dental, the nation’s largest provider of dental benefits, provided a $250,000 contribution to support the COVID-19 Resident Rental Relief Fund.
Cinnaire’s Resident Rental Relief Fund is promoting housing preservation and stabilization by providing resources to properties where Cinnaire has invested. The operating partner or property manager will be responsible for identifying eligible residents and administering temporary rent assistance to mitigate emergencies where residents have experienced a sudden reduction in household income, are incapacitated and temporarily unable to pay their rent. Each household can receive up to $1,500 through this program to cover unpaid rent.
The Centers for Disease Control (CDC) eviction moratorium is in effect through March 31st, and it has been reported that the CDC is seeking an extension. A recent report from the Government Accountability Office (GAO) noted that the lack of awareness about eviction moratoria led many families to not benefit from them. In addition, while moratoria help in the short term, renters racing job or income losses continue to accumulate arrears during that time, putting them at risk of eviction in the future. Low-income renters facing job losses and income reductions are accruing large debts they will be unable to repay without additional support. Many low-income renters in Cinnaire-invested properties are in this vulnerable population and among those most in need of assistance. As they face job or income loss, many are left with the difficult choice to use their limited resources for rent, medicine, food or other necessities. Cinnaire’s Resident Rental Relief Fund will provide relief for families struggling so they can stay in their homes and have a bridge to regain financial stability.
• A household is a legal and current tenant of a Cinnaire funded property.
• Households facing financial hardship due to the COVID-19 pandemic.
• Households facing hardship have unpaid rent greater than 30 days.
• Partners may apply to receive up to $1,500 rental credit per eligible household. Funds awarded shall be treated as a credit toward past due rent for household.
• Partners must agree to waive late fees and court fees charged from April 2020 forward.
• Provide eviction relief for a minimum of 6 months, provided tenant household remain current on a reasonable payment plan.
• Only property managers and/or the ownership may submit a Resident Rent Relief Fund application for each resident household. Do not forward or send residents to the application portal.
• Households will only be eligible to participate in the program one time.
• The Property Sponsor or Manager must complete and submit a Quarterly report to Cinnaire following each quarter end. The submission must also include an Aged Accounts Receivable report that includes all administrative, court and legal fees.
• All late fees and court fees charged from April 2020 – forward will be dismissed upon acceptance of the funds.
• A reasonable payment plan will be agreed upon between the resident and owner. The resident will not be evicted provided they are current on the payment plan for a minimum of 6 months.
• The GP and management will notify all the residents of the RRRF program.
• Assistance is available on a first-come, first-served basis. RRRF may discontinue accepting applications at any time.
• Applications will only be accepted during the open application period from April 15th, 2021 thru May 14th, 2021.