The National Apartment Association (NAA) today released the following statement on rent payments amid COVID-19:
Today brings uncertainty for the entire rental housing industry as rent and mortgage payments loom large. Many residents will not be able to make their rental payments – through no fault of their own – which, in turn, will have devastating implications for apartment owners and operators. To minimize the damage, NAA is urging those of our nation’s 40 million renters who’ve been financially unaffected by COVID-19 to make their rent payments in full and on time. Paying rent ultimately keeps people in their homes by ensuring housing providers can meet their own financial obligations and keep the entire apartment community afloat in these troubling times. Rent payments also allow us to keep properties staffed and actively managed to protect our residents from exposure to COVID-19 as a growing number of Americans fall under stay-at-home orders. We stand with our residents, developers, owners and operators as we navigate these challenging times, and encourage flexibility as we continue to work with policymakers and industry leaders to ensure apartment community needs are met.
The National Apartment Association (NAA) serves as the leading voice and preeminent resource through advocacy, education and collaboration on behalf of the rental housing industry. As a federation of more than 150 affiliates, NAA encompasses over 82,000 members representing more than 10 million apartment homes globally. NAA believes that rental housing is a valuable partner in every community that emphasizes integrity, accountability, collaboration, community responsibility, inclusivity and innovation. NAA thanks its strategic partners Maintenance Supply Headquarters a Lowe’s Company and Yardi. To learn more, visit www.naahq.org.