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there's rent assistance in the new stimulus bill of 25 billion dollars i'm going to show you how to get it i'm going to show you who qualifies how much money you could be receiving it could be thousands of dollars every single month it could be thousands of dollars for rent that your past due on i'm going to show you exactly how to get it in this video now before we get into it i have a link in the description below for sofi money it's a 50 sign-in bonus for a free checking account with free atm access something that i use i thought i'd pass it along with that being said my name is kevin conway i make personal finance videos and other stimulus news videos all the time so if you want to stay informed and get the latest on unemployment insurance e-i-d-o grants where you can get up to ten thousand dollars stimulus checks and other things like how to invest how to generate passive income how to buy real estate be sure to subscribe to this channel now if anyone is interested that you know in this renter assistance and how to get it or if you think anyone that you know might benefit please just share this video with them and give a like to it if you like it youtube prioritizes it and pushes it out to more people and more people can get the information on how to get renter assistance with that being said let's just get right into the details so in the 900 billion stimulus bill there's 25 billion dollars specifically allocated for states and local governments to give renter assistance this is not deferment of rent this is not a forbearance of any kind it is direct payment of your rent from the government to your landlord so that you do not owe the rent for that month or the past month so you're getting that assistance for now here are the basic details the department of treasury is taking that 25 billion dollars and allocating it basically across the country according to population here's a few maps that show you basically where the money is going as you can see los angeles county is the largest county it's getting hundreds and hundreds of millions of dollars and so on and so forth down the road now you're going to be applying for this rent trade directly with your local governments now each city in each county is going to be different but i'm going to pin a comment where i'm going to have all the major metros on here los angeles miami etc i'm going to put them all down here so you can go directly to that site and if you're somebody out there who has you know a recommendation or you live in a more rural place comment it and i will put it in my pinned comments so we can help people out so they can apply directly for that aid now what is this aid specifically for as i said it is not a deferment of rent its actual payment of rent directly from the state government or your local government to your landlord directly now it can be used for past due rent current rent pass-through utilities current utilities or other miscellaneous costs having to do with the pandemic now there are certain things you need to qualify for in order to get this you need to meet the following criteria number one you need to either have qualified for unemployment benefits so you've lost your job and your state has determined that you're qualified for unemployment insurance or experienced a reduction in household income incurred significant costs or experienced financial hardship directly or indirectly to uh you know as a result of the pandemic and you must attest in writing it's actually similar to mortgage forbearance if any of you guys are familiar with that and how that resulted as a result of this stimulus bill but essentially if you've been affected negatively financially because of the pandemic you meet the first criteria now second you must demonstrate a risk of experiencing homelessness or housing instability so that means that you're a renter if you don't make your rent you're going to be evicted that's housing instability that's pretty straightforward you all need a place to live and if you're not paying your rent well then you're not going to be able to have a place to live and this includes specifically these are the things that qualify housing and stability getting an eviction notice so if you haven't paid your rent getting eviction notice boom you meet that second criteria number two you get a rent due rent pass-through notice so you haven't paid your rent and it's been five six days ten days whatever it may be your landlord sends your notice you have that piece of paper boom that also qualifies uh you know for the second criteria now number uh you know there's other things as well so if you have unsafe or unhealthy living conditions as a result of pandemic that also qualifies for you if you have a past due utility notice you didn't pay your electric bill your water bill your gas bill etc that also meets the second criteria or if you just have general other evidence so if you have other things that basically support that idea that you may be experiencing soon homelessness or housing instability that meets that second criteria the third criteria that you need to meet is that you need to have an income at or below 80 of area median income meaning you must make no more than 80 percent of whatever the average worker in your area as defined legally we're going to get into that makes in that area so you need to basically have an income 80 percent or below of area median income now how's that calculated that's either based upon total income for 2020 or monthly income now at the time of application meaning if you just lost your job say a couple weeks ago or a couple months ago and though your income earlier on in 2020 was pretty good and now you don't have any income that also qualifies for you so if you have income in totality in 2020 that's lower than 80 ami area median income in your area or you've just lost your job or you just had reduction in hours or basically you're not making as much money as you did previously and now you're 80 or below of your area mean income that meets your third criteria so quickly let's summarize you need number one to have experienced financial hardship directly or indirectly in some manner and have evidence of that number two you need to have risk of housing instability or homelessness and number three you need to have income at or below eighty percent of your area's median income those are the three things that you need in order to get rent assistance rental aid whatever you call it and this rental aid can be significant if you're in los angeles it could be two thousand dollars every single month if you're in miami it could be five thousand dollars i mean there's all sorts of things that could really help you here this is real cash that can actually go directly into your pocket so if you fit those three criteria you're in luck because you're able to get assistance now you're going to go on a lot of these websites that i have in the link below and they're going to say we don't have any more money you know we ran out of money because of the last cares act ran out of money that's fine because a lot of these places haven't updated their systems and websites as a result as a result of the newly passed law that just passed basically a week ago so give them time it'll be about a week maybe two weeks in certain places some places have already begun accepting applications i saw in new york they were accepting applications so just be patient and realize that this money is coming to your local government but you need to be prepared so that you can get your information into them as quickly as possible i'ma stop right there if you have any questions leave them in the comments below and please give a like to this video so that we can push this out to more people so that they can get help now let's go into some of the other details that you need to know first off the agencies are going to determine that you're not receiving duplicative assistance from other federal governments when they give you this aid so basically they don't want to be paying you rent and have another government agency that they don't really know about also paying you rent and then you're double dipping kind of makes sense because they want the money to go out to all the people that need it there's a limited amount of money and they don't want to double pay people so that's something to keep in mind as well and they're also going to have you certify every three months by checking that the rent assistance is not basically you know no longer uh in place so say you got a really good job right after you be gone uh began getting rent assistance they want to make sure that that's not the case because if all of a sudden you're able to support yourself on your own well they don't want to be continuing paying your rent but they're going to do that about every three months or so so just keep that in mind as well but just know that the rent assistance doesn't count as income when they're doing that certification now there is a big warning you need to know that the money is limited and they are going to prioritize those individuals who have either number one been unemployed for longer than 90 days or those who make below 50 percent of area mean income those are going to be the high priority people if you're one of those two groups you have a higher chance of actually getting this rent assistance just keep that in mind i know it's kind of frustrating but there's a limited amount of money and they're going to prioritize those individuals who have lost their job and not had a job for more than 90 days or those individuals who make below 50 of their immune income that's why it's so important to apply as soon as you can it's so important to know about this as soon as you can so you get your information in right away now like i said where do you apply exactly what are the actual agencies that you apply i have my pinned comment if you look in the comments below of some of the major metros that actually are the places that you apply again there's not one you know major agency that you applied to because the the department of treasury sent this money out to all the localities and states around the country and they are going to determine how to actually distribute it and how to actually get it so for example you apply a certain place in los angeles certain place in miami a certain place in new york certain place in austin texas it's all going to be different but one of the key things you could do is either look at my comment or simply google rent assistance and then your city's name and chances are there's going to be something up there that says pandemic rent assistance click here and make sure it's a government website and then you're going to be able to apply there and make sure that the criteria i'm talking about here is on that website because that is the mandatory thing from this federal law that all the localities must abide by that is you know the three things that we talked about previously so that's a long and short of it those are the three criteria that you need to meet and you're also going to probably have a few additional things your states and local governments are going to want to see as well in your application there's some below you know some websites you can check out you can check out your local website to see what you need to provide but that's basically the long and short of it and it's really as good as it gets you can get thousand dollars two thousand dollars five thousand dollars whatever it may be to help you with rent and this could be a godsend to a lot of people this can be on top of your unemployment insurance your stimulus checks and everything else there are several other programs that could help you as well obviously unemployment insurance is one of them and i have a video kind of going over the unemployment insurance how to get it what are the rules that apply so be sure to look at that one as well but just so you know there's also the eviction moratorium meaning they can't evict you in housing that is governed by federal law which is the majority of housing across the country until later on this month january 31st that is the minimum now every state is going to be different in my home state of california for example california actually has extended that eviction moratorium and likely will extend it to basically the end of this year so if you live in one of those states you also have the uh the benefit of not being evicted if you so long as you don't violate your lease and do other things if you just simply cannot make rent as a result of the pandemic now i wouldn't uh you know i wouldn't suggest you don't pay your rent the reason is because you're eventually going to have to so do what you can but just know that there are programs like the rent assistance at your state or local government that can help you out to make rent today so that you don't fall behind this is money that you don't have to pay back it is money that comes directly from your state agency to help you pay for bills help you pay for utilities help you pay for rent today i hope that was helpful for you out there please if you have any comments leave them below i'm an attorney here in california so i have read the law and i know how it applies here and i'm doing my best to give you the information as i see it of course i'm not your attorney this is just for education purposes here but i want you to be aware so that you can get educated yourself and know exactly the programs out there that could help you because i think this is a huge program that simply isn't talked about very much i mean 25 billion dollars that's a chunk of change i mean if you're somebody out there who is renting i mean that's a pretty good deal to get money just to help you out even if it's one month a couple weeks or a couple months a pass-through rent it can be a really good thing for all those out there who aren't subscribed consider subscribing comment below with any questions you have and any video ideas video suggestions any topics you want me to cover i'm happy to do so i like making these videos so please just do that and give a like to this video and share it with anybody with that being said my name is kevin conway and i'll see you next time thanks