For Immediate Release:
March 24, 2020
Contacts:
John Sullivan
Enterprise Community Partners
601-757-7907
Meghan Elder
Mississippi Apartment Association
601-992-9933
MAA and MAAHP Ask Rental Property Owners to Work with Tenants During Coronavirus Crisis
JACKSON, Miss. – The Mississippi Apartment Association (MAA) and the Mississippi Association of Affordable Housing Providers (MAAHP) encourage Mississippi apartment managers and landlords to work with tenants who have fallen on hard times as a result of the coronavirus emergency. Together, MAA and MAAHP represent a significant portion of the rental property owners serving the state’s 350,000 renter households.
“Apartment communities in Mississippi have not been immune from the effects of the coronavirus. As an organization of individuals and companies who own, operate and service apartment communities, the Mississippi Apartment Association asks apartment managers to prioritize planning for the health and safety of tenants and their guests as well as employees and other valuable associates. During this difficult and uncertain time, MAA further asks that apartment managers look for creative and compassionate solutions to work with tenants whose jobs and income have been interrupted,” said Meghan Elder, MAA Association Executive.
“Public officials are calling on residents to stay home to stop the spread of the coronavirus. The last thing the state needs from a health perspective is for renters to lose their homes because of the economic consequences of the COVID-19 response. We are calling on all rental property owners to work with tenants during this difficult time,” said John Sullivan, State and Local Policy Director for Enterprise Community Partners and President of MAAHP.
The economic consequences of the COVID-19 response have been severe, with many workers being laid off or facing reduced income. While financial assistance is on the way from the federal government, that assistance will not be available when rent is due on April 1st. MAA and MAAHP firmly believe that communication between landlords at tenants is key as we move forward in these uncertain times.
· Landlord/Tenant communication is key: A number of landlords have already employed creative and compassionate solutions for tenants who cannot pay their rent on time. Landlords in the process of determining what solution works best for them and their tenants should take comfort knowing that others in our community have implemented various programs, such as waiving late fees, developing partial payment plans, and adding a catch-up payment at the end of the lease term. But communicating with tenants is a must, and tenants should likewise be upfront with their landlords about problems they foresee making full rent payments on time as a result of changes in their employment situation as a result of the coronavirus.
· Talk to lenders: Likewise, apartment owners should communicate with their mortgage lenders to discuss potential losses in revenue and seek mortgage relief. Freddie Mac and Fannie Mae have announced they will be offering mortgage forbearances to rental owners on the condition the owner does not evict tenants who cannot pay their rent because of the coronavirus. Many other mortgage lenders have implemented similar policies.
· Protect resident and employee health: To best protect the health of our apartment communities, including tenants, their guests, and residential staff, MAA and MAAHP would also direct landlords and tenants to resources available on MAA’s and MAAHP’s websites, www.msaptassoc.org and www.maahp.ms, for resources on property management and the coronavirus.
MAA and MAAHP are in communication with the Mississippi Home Corporation and state officials regarding the crisis, and are working through national partners, including the National Apartment Association, Enterprise Community Partners, and the ACTION Campaign, to promote federal assistance for renters and rental properties. We ask that rental property owners show patience for this assistance to reach Mississippi families.
About the Mississippi Apartment Association
The Mississippi Apartment Association, an affiliate of the National Apartment Association, promotes and enhances the professionalism of the apartment industry by providing quality education, national designations, networking events, and trade shows.
About the Mississippi Association of Affordable Housing Providers
MAAHP is a nonprofit trade organization established in 2010 to promote and provide well planned, well constructed and professionally-managed affordable housing for Mississippi citizens so they can reside in a safe, secure, family-oriented environment.