Property Management and Emergency Assistance COVID19 Programs

May 9, 20200 comments

As the COVID19 pandemic continues to spread throughout Massachusetts and the rest of the country it’s caused the emergence of numerous State and Federally funded financial relief programs.  Small business’s, homeowners, and tenants can take advantage of these programs if affected by COVID19 financially to help soften the rise of unemployment, bankruptcy, and homelessness. Being directly connected to the livelihood of the public, homeowners and property manager’s have been issued guidelines by The Department of Housing and Community Development, DHCP, on how to interact on a legal and physical level with their tenants while also helping tenants to have government aid reconsidered.  Continue reading to learn more about the DHCP notice and programs to help COVID19 financial relief!


Among the points summarized below, the inability to evict or proceed with legal action against tenants is one of the most important suggestions made to protect a tenant’s livelihood. We must do our part and be considerate to each other in this time.

DHCD Notice To Home Operators

    • Suspend all action on non-emergency evictions.
    • Housing Court has suspended all non-emergency proceedings
    • Refrain from raising rents allowable in the new income and rent limits announced by HUD on April 1,2020 for residents using State aided public housing during the time of the crisis.
    • Given financial issues due to COVID19 any state aided resident may apply to redetermine financial needs at this time.
    • For 120 days from 3/27/2020 any tenant living in a home that is under a federally backed mortgage loan cannot initiate eviction processes or charge extra fees in relation to nonpayment of rent.
    • Limit visitors to multi unit housing developments via these guidelines

Contract, Signing, Hand, Signature

COVID19 Financial Relief Programs

Residential Assistance for Families in Transition (RAFT)

Paycheck Protection Program For Small Business’s

  • SBA Loan designed to keep small business workers on payroll.
  • Loan forgiven if employees are kept on payroll for 8 weeks
  • Money must be used for payroll, rent, mortgage interest, or utilities.
  • Apply through any SBA 7(a) lender
  • Available from 4/3 – 6/30/2020
  • Available to:
    • Companies that meet SBA size standards for industry or alternative
    • Business’s beginning with NAICS code 72, accommodation and food services
    • Sole proprietors, independent contractors, self-employed persons
    • 501(c)(3) , 501(c)(19) businesses with greater than 500 employees or that meet the SBA industry size standard if more than 500.
  • Fully forgiven if at least 75% of check is used for payroll and rest is used for interest on mortgages, rent, and utilities.
  • Application can be found here.

Residential Borrowers

  • Federally backed mortgage loans may have a forbearance of up to 180 days requested if impacted by COVID19
  • An additional 180 days may be requested if need be.
  • During this time no fees, penalties, or interest outside of regularly calculated amounts may be charged to the borrowers account.
  • Foreclosures by servicers of these loans are unable to move for a foreclosure judgement for at least 60 days starting 3/18/2020
  • Multifamily Property Borrowers may also ask for forbearance in the term of 30 days. 2 additional 30 days terms may be requested given request 15 days prior to the end of the current forbearance term.

Economic Injury Disaster Loan Emergency Advance

  • Up to $10,000 loan advance to provide aid to small business’s.
  • This advance is for business’s who have temporarily lost revenue streams
  • Primarily for small business’s with less than 500 employees unless otherwise allowed by SBA industry sizes
  • 100% forgiven loan.
  • Currently not accepting new applications.


***Due to such widespread impact of COVID19 it is not possible to predict how long each program will remain open for as such a substantial number of business’s apply for much needed aid. ***


Submit a Comment

Your email address will not be published.

Recent Posts

Pros and cons of real estate investing strategies

Pros and cons of real estate investing strategies

Ninety percent of all millionaires became so through owning real estate – Andrew Carnegie You probably already know that investing in real estate is one of the safest and most profitable ways to invest. People will always need a place to live, and this demand means...

How to analyze the housing market

How to analyze the housing market

Real estate is one of the safest and most secure investments out there. This does not mean, however, that all real estate purchases are good investments. Whether you’re an investor, first-time home buyer, or realtor, knowing how to analyze the housing market will help...

Real Estate Investing Law: What You Need to Know

Real Estate Investing Law: What You Need to Know

Real estate investing can be a great way to achieve financial freedom and independence. With the market as hot as it is now, it can be a significant source of wealth whether you are looking for a profitable side hustle or to move into full-time investing. Either way,...

Comparing insurances: Home owner or Landlord?

Comparing insurances: Home owner or Landlord?

Though insurance can be thought of as a necessary evil in the world, insurance can be used to negate losses and mitigate any potential liability. This is no less true within the realm of real estate. First, as a homeowner looking to rent out a property, the question...