With only a few days remaining to participate in the EP Rent Help Program, officials are touting the benefits for local landlords.
According to an analysis by the El Paso Apartment Association, the average El Paso landlord could save approximately $2,467 for each tenant they enroll in the EP Rent Help program rather than evicting.
“Evictions aren’t just bad for tenants, they’re costly for landlords,” said Tracy Yellen, CEO of the Paso del Norte Community Foundation. “While landlords must agree to agree to certain conditions including capping some fees and agreeing not to evict a tenant for at least 60 days after rental assistance is received, this analysis shows the net benefit to landlords far exceeds the cost for participating in the program.”
The estimated cost to evict a tenant includes court filing fees, loss of potential rent while a unit sits vacant and the maintenance associated with preparing a unit for new tenants.
Landlords wishing to receive rental assistance on behalf of their tenants who are at risk of eviction due to financial hardships brought on by COVID-19 have one more day to visit EPRentHelp.org to get verified to participate in Round 2 of the program and to submit their joint landlord-tenant application.
All applications for Round 2 of the program must be submitted via EPRentHelp.org by 11:59pm MDT on Sunday, August 16, 2020.
Any application materials submitted after August 16, will be considered on a rolling basis and only if funding allows.
Important Facts About the EP Rent Help Program
▪ The EP Rent Help Program will grant millions of dollars in federal CARES Act funding to landlords within the City of El Paso.
▪ Landlords must apply on behalf of their tenants.
▪ Tenants will be required to provide information to their landlords to complete the application.
▪ We will not ask your immigration status nor will it be used in making decisions about who receives funding awards.