In a bid to combat the looming homelessness crisis, the city of Los Angeles has announced a financial assistance initiative for local apartment owners. This assistance is made possible through funds accrued from the recently instituted property transfer tax, known as Measure ULA.
According to the city’s official release, landlords in Los Angeles who own up to 12 units and house low-income tenants facing the threat of homelessness are eligible for this support.
The program, named the Emergency Renters Assistance Program, can shoulder up to six months of arrears in rent. For those interested in availing this assistance, there are specific documents required. These include evidence of property ownership, a duly filled W-9 tax form, and documentation of tenants’ existing monthly and overdue rents.
Mayor Karen Bass emphasized the importance of the initiative, stating, “Our commitment to preventing Angelenos from descending into homelessness is unwavering. This means not only assisting tenants but also supporting our small landlords and housing facilitators. Our city must stand united against a potential surge in evictions.”
“We must continue to do all that we can to prevent Angelenos from falling into homelessness and that includes supporting small landlords and housing providers,” Mayor Karen Bass said in the statement. “We will continue to do all we can to ensure that a wave of evictions does not hit our city.”
For landlords hoping to benefit from this scheme, the deadline for applications is set at 6 p.m., October 31. Comprehensive information is available on the Los Angeles Housing Department’s official website.