The new Landlord Rent Assistance Program (LRAP) was launched yesterday. The program has a fund of $125 million. This will go towards property owners where tenants vacated the apartment during the COVID-19 pandemic and is still owing rent. Landlords can also apply in place of tenants who refuse to apply for the program and still have arrears due to the pandemic. OTDA will be approving applications for buildings with 20 or less units. However property owners with more units are still encouraged to apply. Funds are expected to go within the first month. According to CHIP there is a chance that the state government might allocate more funding for this program if need be in the 2022-2023 state budget. Although this is great news for property owners there are still some requirements that need to be met in order for landlords to qualify for the program. In situations where the landlord is applying for a tenant that refuses to apply for ERAP they must try to contact them three times and two of those times have to be in writing. For more information and to check out the required documents to apply check out the OTDA website.
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