What's Hot: Offices, Housing, Hotels? Plan B Floated For Remaining Parcels At DC's Reservoir District
A Primer on DC Housing Relief in the Age of COVID-19
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UrbanTurf has decided to start compiling information about the relief being offered to landlords, renters and homeowners in the District during the COVID-19 public health emergency. We will continue to update this article as we receive new information.
The following have been prohibited during the public health emergency:
- Late fees on rent payments.
- Rent increases. Increases are also prohibited for the 30 days following the end of the emergency.
- Evictions.
- Utility (gas, cable, electric, and water) shutoffs.
The deadline for tenants in DC to exercise their rights under the Tenant Opportunity to Purchase Act (TOPA) has also been extended until 30 days after the public health emergency has ended. Right now, that date is May 15.
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If you are a residential or commercial mortgagee that can demonstrate financial hardship during the health emergency then you are eligible for rent/mortgage payment deferments of up to 90 days. Any landlord mortgagee granted deferments must reduce its tenants' rent during the duration of the deferment period, at a rate proportionate to the reduced mortgage payments.
Mortgagees would then make deferred payments via an arrangement made with the loan servicer. Tenants may be required to repay the amount of any reduced rent, without interest or fees, within 18 months, or at the end of the lease term, whichever occurs first.
Lastly, renters who had previously submitted a notice to vacate their unit before or during the emergency are able to suspend the date to vacate during the emergency.
Thumbnail photo courtesy of Ted Eytan.
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/a-primer-on-dc-housing-relief-in-the-age-of-covid-19/16777.
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