If you’re a landlord struggling to pay your mortgage, now there’s help.
If you’re a landlord, I have great news. The Rental Property Owner Preservation Fund was established by the governor’s office to assist rental property owners here in Arizona. This program helps eligible landlords who have been directly or indirectly affected by the pandemic and are struggling to make their mortgage payment due to nonpayment by a tenant. This program has some limits, but it can certainly help many landlords.
The rent amount you apply for cannot exceed $2,000 per month per property, and overall financial assistance from this fund cannot surpass $50,000 per landlord. You can only apply for expenses accrued from April to August 2020.
If you’d like to fill out the application for property owner assistance, you can do so here. If you’re a landlord you can apply yourself, or if you use a property management company, they can apply on your behalf. These are grant funds, and they come at a first-come, first-served basis. So if you need assistance, apply soon.
If you have any questions about this program or want to invest in real estate, please give me a call or send an email. I would be glad to help.