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25 billion dollars was in the covet 19 relief package passed at the end of december landlords and tenants are you ready to get your share of emergency assistance hey there christian walsh wire associates we're real estate brokers based in southern california helping tenants and landlords buyers and sellers in california and beyond this guide for tenants and landlords is going to cover a lot of ground we're going to talk about who can and who can't get the money we're going to talk about how it's distributed where it is right now and we're gonna tell you what the money can be used for so if you're ready hit that like button and we're gonna dive in so who isn't eligible for the money who can't get the money so this is an important point and this is may seem counterintuitive but if you're not behind on rent you're not eligible for the money so this is only for those folks who are potentially in danger of eviction so if you've been scraping your pennies together and you've been paying your rent on time and you're not at risk of eviction but you will be in the months ahead this money isn't quite for you yet there may be some funds that come in the future but this money is for back rent and back utilities another important point to eligibility is as a tenant your income for the household has to be eighty percent of the median income for your area or less and we're going to explain what that means and show you how to figure out that exact number here later in the video now that we talked about who can't get the money let's talk about who can so you must be an eligible household and by eligible household there's specific criteria that must be met one of those is somebody in the household must be affected by covid their income must have taken a hit or they must be on an unemployment because of covid the household has to be able to demonstrate that there are risk of homelessness or instability so this could be as simple as back utility bills showing payment is due or back rent statements showing that rent is due the other big qualification is that the household income must be 80 percent of the area median income or lower and what does this mean so hud sets housing and urban development department sets the median area income numbers and we have a link below you can find your specific median area income numbers and just to give you an example for orange county california we're based the 80 percent median area income for a family of four because it's based on the number of people in the house for the year 2020 would be a hundred and two thousand four hundred and fifty dollars so as long as the income from 2020 or from the month that the family is applying as long as that income proves an annual income of 102 450 or less they are eligible for funds through this stimulus plan there is preference given to those who have an income that's 50 percent or less of the area median income and those who have been unemployed for 90 days or longer at the time of application those folks will get priority for the funds what can the money be used for so it's specifically earmarked to be used for back rent and back utility bills and it can go back as far as 12 months for any of those back rent payments or back utility bills if those funds don't run out any additional funds will then be available for the three months ahead but first it must pay for rent in arrears you can apply for the funds well if you're an eligible household obviously you're able to fill out the application a landlord can also fill out the application on behalf of an eligible household tenants and or landlords will be applying through state and local programs that's where the application will be submitted it doesn't go into the treasury in fact they specifically say do not submit to the treasury what you're going to do is you're going to find the local program so that you can apply for those funds the plan is for the funds to be paid directly to the landlord on behalf of the tenant or directly to the utility if the landlord decides for whatever reason they don't want to participate then the funds can go directly to the tenant so where are these funds right now as of shooting this video the money is being sent from the fed to the different state governments and larger local cities they're basically they have until 126 to get the money out and then from there it will be distributed through state local and city governments of the 25 billion the state of california for example is eligible for 2.6 billion where are you going to find these funds you are going to visit your city county websites and look for the local programs and look to see them implemented if you were lucky enough to live in an area where a program like this was already in place before with the previous cares act funds then you'll go ahead and just revisit that site because most likely these funds will be used to replenish those coffers but there will be additional places i have a link below from the national low-income housing coalition and they have two resources that you can take advantage of to find places to get these funds so they have a searchable map feature they also have a database that you can download and it lists the different areas where you will be able to apply for the funds from this program so we highly encourage that you visit those sites and you continue to revisit and see as new ones are added get your ducks in a row right now so get your paperwork ready so that when you fill out the application it will go in it can be approved much more quickly so what you're going to need is you're going to need statements from your landlord and or utility companies showing that you're behind so will this rental assistance plan solve our problem and the answer is unfortunately no this is a drop in the bucket of 25 billion dollars for a problem that has been estimated for anywhere from 70 to 100 billion dollars in back rent that's owed that's a big big number and there's anywhere from 12 to 20 million households that are at risk of eviction right now so these funds will help some of those households but expect to hear more money coming in the near future make sure you check out the links we have below for more information on the program and where to apply and leave a comment below let us know how it's going for you if you have success if you find a great spot for folks to go get money let us know i'd love to have you subscribe to my channel as well as my email newsletter which is free and weekly so there's a link below so you can subscribe to that thank you for tuning in this has been christian walsh wire associates and we appreciate you