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California  + Apartments  | 
Ariel in $35 Million Sale of Brox Development Site

Rental Housing Providers to Get 100% Repayment of Unpaid Rents

Rental housing providers will likely get 100 percent of rent that’s gone unpaid because of COVID-19. In a recent press conference, Gov. Gavin Newsom announced that California will receive an additional $2.6 billion in rental assistance from the federal government. That brings California’s total federal rental aid to $5.2 billion.

“This is certainly welcome news, and we applaud Gov. Newsom for his commitment to making rental housing providers whole,” said Tom Bannon, chief executive officer of California Apartment Association. “Many of our members have provided housing for more than a year without compensation.”

Newsom also announced his plan to spend $2 billion from the state general fund to pay past-owed water and utility bills. The governor said he intends to use the new funds to pay rental housing providers all rental arrears attributable to the pandemic, both retroactively and going forward.

Until now, the governor and legislators committed to paying landlords 80 percent of what they were owed by COVID-19 impacted renters, although this has only covered back rent owed between April 2020 and March 2021.

Under prior legislation, owners have been required to forgive 20 percent of the rent owed to qualify for the assistance. Now, it appears owners will receive the 20 percent owed as well.

“CAA looks forward to working with the governor and legislature to make the assistance a reality and distribute the additional funds as quickly as possible,” Bannon said. “It’s also vital that we find dollars to help COVID-19 impacted renters who do not qualify for aid under the current state rental assistance program.”

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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