Register now to download all the landlord relief resources mentioned in the video.
BREAKING NEWS: What immediate and long-term help is now available for landlords?
How Does the Congressional Emergency Rental Assistance for Landlords and Tenants Help You?
The Consolidated Appropriations Act of 2021 contains funding for landlords, known as Emergency Rental Assistance.
Every state gets a minimum of $200 million. Both tenants and landlords are eligible to apply for assistance and get funds.
This short video will cover the major points, answer questions, and give you resources to benefit from the funds in this new stimulus package.
GET MORE HELP THIS WEEK!
Join in with other landlords from every state for an urgent live-cast Thursday, February 11th, to get on the spot answers to your questions. If you register after the event, you will still be sent all the updated resources.
https://millionairejumpstart.com/landlord-relief/
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Hi, it’s Lou. And I wanted to let you know that your landlord relief package hasn’t ended from me. I am giving you additional information. That’s just come available. I just graduated a seminar from an attorney that went through all the steps of the new COVID relief package. I’ve got those details for you right here. I want you to stay present, stay alert, listen to everything I have to say about this. And then at the end, I’m going to offer you an opportunity to join me for a live Q and a session. But first I wanted you to have the details about this latest money. Now, I just got word this morning that our County just got $600 million is going to be available for a landlord relief. So this is coming your way as well in your local community. Very important information, very timely information and very critical information.
And my licensees, I was talking to them over the weekend. They had a tenant that had paid for a year. Imagine that I had not paid for a year. And as a result of this money just got approved for 12 months of relief. So this is a real thing. It’s worth tens of thousands of dollars. Last week, one of our clients through Catholic relief was able to get $4,930, and we received that money. So it’s very critical that you pay attention. Now, their initial package that I gave you as part of the landlord relief package has a template for various agencies that can be of assistance. That’s a very critical piece to the puzzle with this information that I’m giving you today, I’m going to have four downloads for additional documents that are going to give you the latest information on plan board relief. And my desire for you is that you have amazing business and it should be fresh, stressed, free. There’s so much opportunity for us out there and amazing opportunity that’s coming in this new economy. That’s coming our way. So pay very close attention to this recording that I just did for my licensees. And I’ll see you on the phone. Yeah, babe,
I attended last week, a webinar seminar online, um, that was conducted by Deb Watson and he is an attorney out of Ohio and what, and it was a paid seminar. So I paid for it and got some great information that sent some out to us, but there is a, an emergency rental assistance program. I wanted to make you all aware of. Now, this is, I think, important as we look forward to our business, as we look forward to what, uh, the challenges are in our business. Uh, one thing we need to be aware of is that, uh, this pandemic thing has been going on for awhile and it’s broken the back of some residents. They have not that they will because of loss of job to pay the rent or because they got COVID and we’ve covered on other calls about the COVID letter and because of the CDC, a moratorium on evictions and what have you now, I don’t know that it’s constitutional for the CDC to be able to prevent business.
Um, I have my strong doubts about that because commerce is commerce and contracts are contracts and for a governmental agency to come in and make edicts like that is, is a very interesting, very interesting, but unless it’s challenged, it is what it is. So with that said, one of the things that we need to be aware of and think about is what this means to us, because as this progresses, what do I mean by that? Well, it was supposed to be over multiple times last year, and they’ve continued to move the ball down the road. They moved it to December 31st, then January 31st. Now they’ve moved it out to March 31st that the moratorium is in existence. So we know that the federal government, the Fannie Mae, Freddie Mac, HUD loans are on moratorium. And in terms of being able to foreclose on those, but commercial loans and conventional loans are not on moratorium.
And unless the state has imposed a moratorium, those foreclosures are going forward. Now with that said, it’s interesting that you can go through a foreclosure, but the next step is eviction. Are you going to be able to get people out of the home or not as the case may be? And the question is, what are the courts in your area doing? So it’s very important to get and find a local eviction attorney and find out what’s happening. Find out what’s going on. If you live in a city that has an apartment association call the apartment association, ask them what’s going on, what are they hearing? What are they doing? So one of the techniques that we’re seeing around the country is that of course rental agreements are typically for one year and typically do expire. So at some point the eviction might not be for monetary gain, but for actually getting your property back because there’s no more contract anymore.
And some people are finding that to work. And some people are finding that not to work. Isn’t it interesting. So it really depends on the judge when it comes down to it, whether the judge is going to cooperate or not. And, uh, they are claiming that if COVID has been claimed or that the courts are closed, you’re out, you’re just out. So of course, most of us have debt on our properties. We have mortgage payments, we have, uh, property taxes, insurance interest to pay. We have maybe team members to pay and so on. So this is guess where the money comes from. It comes from the resident’s payment, but if the residents don’t pay, we need to be aware of what the solutions are and what could happen, uh, out there in the world. Now, uh, good news. I was just talking with a licensee yesterday, uh, St.
Mark tap yesterday. And in fact, the platinum and they had one that had lasted almost a year now, almost a year, not making payments. And yet, maybe three days ago, he got word that an agency is actually going to make that entire year’s payment, that entire year’s payment, and he’s gotten it in writing. So there could be a silver lining depending on where you’re located. Now, that’s something that I wanted to alert you to because on some of the challenge, folks that we’re dealing with, um, we’re having a hard time finding the agencies. We’re having a hard time finding the money is available. Now, supposedly on January the 27th, $200 million was deposited into the bank account of each state. So each state from the federal government received $200 million for the purposes of what I’m going to cover right now. Uh, okay. Bruce and advanced the slot.
So as we are looking at possibilities, uh, definitely might not have a problem today. We’ve talked about this over the year, and there’s certainly things that have come out over the year. Um, at the beginning of when this thing started occurring, we talked about solutions. Then we talked about what to do and how to do it. Well, now we’re a year into this thing and there’s other things I think that have occurred. One is that the, that some residents have determined that it’s possible to get away with not paying rent. And so they are taking a stand not to pay. And I think it potentially could snowball. And it just really depends on the area that you live in and maybe how these people were raised, uh, what is being fed into their ears. But media is saying, and what other, um, agitators might be saying in that area, because we are hearing some cities are, you know, they’re doing a whole group of folks that are not paying now.
This is impacting apartments, even more than single family. And we are so blessed because of our path to home ownership, that our people are playing a different game. Our people are not just renters. They have the opportunity to someday own that home, hopefully that can help you in your business. Hopefully that is a incentive for people to pay attention and make sure that payment is made. There are some people out there struggling, and that is definitely real and true and something that should be considered. Um, you know, if it’s, if it’s factual, but this thing of, you know, the monthly COVID letter is, uh, is somewhat ridiculous right now. Interesting. They say in the COVID letter, it doesn’t say that you have to get one for each month. So someone could literally give you the COVID letter. And until they lift the moratorium, there is no end to the moratorium.
So I think we have to be forewarned forearmed. We have to have the ability to have solutions. So I wanted to make you aware of these solutions and the emergency rental assistance program is a tie-in to an earlier program in the cares act from last year. And when I say a tie-in and this is a new program in that, um, uh, landlords can apply for it, or tenants can apply for it before it was just tenants. And if we participated, it was just to help the tenant access, the agencies that had the money. But, um, now they’re saying that the landlords can actually apply with the tenants permission and signatures on certain document, so that could eliminate some issues there. So this is a new and evolving program, meaning that maybe all the details are not ironed out yet. However, a County by County variances can exist because there can be some restrictions that are placed on the money locally that are not national restrictions. There can be state restrictions placed on the money that are not national restrictions. Uh, so be aware that there could be some, uh, discrepancies or very variances in what I’m sharing with you right now. Not everyone who applies will get paid and only certain tenants are eligible. Go ahead, Bruce.
My slot is not changing. Are you guys seeing this change though? There we go. All right. So 10 seconds behind
Us.
Okay. So application for assistance by landlords and owners, nothing in the section. So preclude a landlord or owner of a residential dwelling from assisting a censor of such dwelling and applying for assistance from a payment made under this section. So we can assist a resident in making sure that the application gets done and done correctly. Let me emphasize that because you don’t want to get back to the back of the line, uh, and not, not make a mistake with that. Um, Maya slides are moving along here, uh, nothing in this section. So pre cute preclude, a landlord or owner of a residential dwelling from applying for such assistance on behalf of a renter of such dwelling and nothing in this section, cell-free too clued a landlord or owner of a residential dwelling from any payments received by the landlord from a payment made under this section, uh, shall be used to satisfy the tenants rental obligations to the owner.
So the highlighted area there is, shall be used to satisfy the tenants rental obligations. So that’s a key phrase right there, right used to satisfy. Um, so I wanted you to be aware of that and know that, uh, the, the hook that could be there is if they’re going to pay a certain amount of the money that’s owed to you and you’re owed more than that, you may have to forgive that other portion. Now I’m going to say that hopefully you’ll be able to get a hundred percent of any arrearage, however, be prepared. If they’ve got restrictions that you might have to give on some of that, the careful about assuming anything, make sure that you understand and can see in writing. If someone’s saying that you have to forgive it, say, where is that written down, help me understand who is it that adopted these rules, who promulgated these rules? I need to see the rules to understand, cause things are misinterpreted from time to time. And we want to understand exactly how they arrived at that, uh, distinction of you being able, you having to give up some or all of the money that’s owed to you. Okay, go ahead
Guys. Uh, I’m in rural Kentucky, if you joined late. So my sort of Bruce’s having to advance the slides. We have very limited internet service here. All right. The income of the household does not exceed 50% of the area, median income for the household. So in other words, there are rules with the money. So looking at the area that you’re in, that’s a distinction that you want to make is that the household income, the people that you’re trying to assist in getting this support, that their household income cannot exceed 50% of the median income for the area. And then one or more individuals within the household are unemployed as of the date of the application for assistance and have not been employed for the 90 day period proceeding such date. So, uh, that now is some additional restrictions on there that could impact your ability to access those funds. Go ahead, Bruce.
I guess you’re going to have to anticipate when I’m getting to the end and go ahead and start it from there. All right. I have what we need. You need the written rental agreement. So you’re familiar with your rental agreement. And one thing to remind you of is it does call when someone doesn’t pay on time, then there’s a loss discount, but you have a higher rent stated in the agreement. They earn a discount to get to the undisputed, to the discounted rent. Now, in addition to that, there’s daily rent. So whenever you’re expressing these numbers to any agency know that your agreement calls, calls it all rent. Uh, so if somebody says, well, how much are your late charges? You can truthfully say, we don’t have any late charges. Um, everything is for rent and the amount of money that you give can be expressed as rent.
Now, people read into it, what they want to read into it. Well, they’re asking you for a copy of your rental agreement. So you’re going to need to provide them, um, the payment history of the tenant door unit from March, 2020 to present. So giving that history of their payments, what does that look like over that period of time that notice to quit? So your pay or quit notice that you have in volume eight property management, you definitely want to be broad that, uh, the tenant income information is 80% threshold. All right? So that means that 80% of their prior income that that’s, uh, now 80% of their income has. In other words, they’ve lost 20% of their income. Uh, that threshold has to be there. And that if someone in that situation, they get a preference. Meaning let’s say that we had 10 applications laying on the table and some of them were in this situation. Those applications would move to the, to the top of the heat, so to speak, and those would be paid, considered first and paid for over any other applications. So that could really help as well, uh, proof of 90 plus days out of work. Now moves it up in priority and the unemployment documentation, if any, so if they’re receiving unemployment or if they were receiving unemployment, um, that documentation needs to be provided as well.
And the good news is these are things that you can be doing. You can get your part of this organized so that whenever they provide they’re part of it, which might be proof of income, such as unemployment. Um, that’s the only, only thing you’ll have to add to it, plus their signature. So more documents that you need, those notices to the tenant regarding rent. So if you’ve had a history of giving their payer quit notices and what have you include all of that, and if they have provided that COVID letter that I was talking about earlier than that, um, needs to be provided as well, proof of ownership of the property. A copy of the deed, whomever you are representing in this transaction could be a trust, could be whomever as the manager. You just need to provide a copy of that deed, the w nine for the owner of the property, so that the grantee can issue a 10 99 for the rent and rental licenses and occupancy permit, if required in your area and lead based paint, disclosures, and other required information given to tenants upon, uh, leasing and renting.
Uh, so your original disclosures that we have in your street-smart documentation in your standard rental agreement, and remember that you have that notification that you have to give them that is that they did there, that you did your proper disclosure about lead based paint. And then of course I’ve altered it to include as best as mold and radon as well in the street-smart documents. All right. And here’s the good news. Here’s the good news. You can get up to 12 months of back rent plus possibly an additional three months of future rent. If the prospects are not good for that resident, you could actually claim future rent as well. Um, and then the payment satisfies all rent arrearage. So back to that F two C, we were talking about earlier, any payments received by the landlord from a payment made under this section shall be used to satisfy the tenants rental obligations to the owner. So in other words, another way of saying that is to bring them current, bring them current with you without a remaining balance on, so your agreement to accept the money is also your agreement to wipe the slate clean if necessary, uh, to bring them back to think. But if the amount that you’re going to apply for is the entire amount they owe you, then that should be a given right, that this is going to clear the debts, clear the slate,
Sorry for the slow feed. Y’all
All right.
So getting ready to apply.
So
Here’s another distinction metropolitan area is that our 200,000 people or above qualify for this money. Uh, so then that
Distinction, your state has some money and then there’s some County larger counties that can qualify as well. So there’s some additional funds that could be available for rural areas that are not available for a 200,000 and above populations. And then there’s other money that’s available for only 200,000 and above and not usable for the rural areas. So it’s like there’s two pots of money there that can be tapped into, depending on which side of the spectrum you’re on. Um, have you talked to your tenants, talk to them about new situation because you’re going to need their signature
Cooperate or crash. Uh, this is not a time to hold the line. This is not a time to point to the agreement and say, this is what you agreed to. And this is what we expect. This is a time to really try to get on the same side of the table with them, because who knows how long this thing’s going to go. I’m just being straight with you guys. This is unlike anything in my decades of experience. This is unlike anything we’ve ever seen before, and hopefully we’ll ever see again. But in the meantime, we’ve got to weather the storm. And, um, that’s the reason that I’m spending tonight to, you know, w we could tell it, rah, rah, SIS, boom, bah, all, it’s all good. It’s all good. But if we don’t address these challenges, you could find yourself without, uh, the ability to pay your mortgage payments and ability to pay your property taxes, your insurance.
So these are very important and challenging times. And I want you to be aware of the straight talk about what you need to do and how you need to do it. Um, so talk with the residents and get them on board with what I’m sharing with you tonight, resolve any conflicts that you have with them. Let’s go ahead and get on the same side of the page. Uh, good people get weird when they get scared. Good people get weird when they get scared. I’ve got one now that is hiding under the table and won’t come out. Uh, so that means, you know, what am I going to do? They won’t answer the door. They won’t answer any of the texts, emails or calls. So what do we do? Um, I’m literally gonna text that phrase to her. Good people get weird when they get scared.
I know you’re probably scared. What we’re trying to do is hell. I even took pictures of these slides and send it to the resident as well. So I don’t know if that will smoke them out or not. Um, use information in the handouts to track your state County, to know when and how to apply for you to apply and apply as soon as you possibly can apply as soon as you possibly can. So hopefully tomorrow you’ll put in your application up. Now we’re going to be giving you some backup documentation that has some details about what to do and how to do it, and what you need to look at.
And I’m going to give you downloads to these things. So this one document is a summary of the emergency rental assistance act. The, the thing that I just went over with you, um, this is a summary of that whole thing. And it’s one of the documents that we’re going to give you a link to be able to download. All right, then there’s 50 States emergency rental assistance links to the particular programs, uh, that are being administered in that state. The next thing is eligible units of local government. So remember I was telling you this there’s state money, and then there’s a counting money depending on the size of the County. So those two baskets of money are what’s available, and this will break it down for you on those counties that actually have money as well.
And then there’s a frequently asked questions. So this is an emergency rental assistance act frequently asked questions. They’ve gone through, they’ve broken it down. And I don’t know, since there’s been no questions asked it’s, it just happened how they already came up with frequently asked questions, but maybe it was on the last, uh, round of money that they found out what the questions are and maybe made, uh, some frequently asked questions of that. So those are four different documents that I’m going to give you a link, uh, that we have diligently put together for you, so that you have access to be able to challenge and listen, maybe you don’t have that problem right now, but I’ll tell you something. We hold our breath. Now, every, every rent period, we don’t know how many are going to fall out. And once it starts going, it can, it can snowball. It can still ball very quickly. So I want to get you in a position that you are prepared and really, I think you should go on and find out who the agencies are out, all their details, get the applications, get everything lined up, whether you got a problem or not.
All right. So here is your access to those documents. And we’ve got this at our massive passive income site, a street-smart mpi.com forward slash relief. Street-smart M E I for massive passive income.com forward slash relief. So this is your landlords relief, uh, which I created something like that out there in the internet world, through the landlord relief package. But you don’t have to worry about that one. I’m giving it to you because you’re an insider and you are a street-smart licensee. You’re already using the system. So I’m making that available to you as well. And by the way, if you’ve got a friend that is not street smart, well, definitely send them to the landlord relief package, just have them looked up, Lou Brown, landlord relief, and, uh, then they can get notified on upcoming events and things like that. You’re already notified of events. So I didn’t put you into, into that funnel. They call it, I didn’t put you into that funnel. Um, I’m just providing these direct to you.
Hi, it’s Lou. I hope that was very valuable information for you that I did record very recently. And it’s available to you right now, hopefully in your local community. Now I got a few steps for you. First of all, I want you to contact the agencies that I have on that download that I gave you as part of the landlord relief. Now, if that doesn’t work, in other words, if they say they don’t have any funds available, don’t stop there. Call the mayor’s office, call the city council, call the city manager. Whomever does things in your County and let’s find out what they know. Now don’t stop there. If they say they don’t know anything. If they don’t, there’s no funds available. Listen, there is your state representative. At the state level, you have your house of representatives. You have your Senate and all 50 States. So listen, pay attention, contact them, their job, your constituent within that County, your constituent within that district. And certainly they’re to serve
You. So if you’ve exhausted, the possibilities that you can find, now let’s go to your state representative and ask them to do their job. Now don’t stop there. Also, your federal representatives. Remember this is a federal program that has been delivered to your state. Your state has to administer this program at the state level, as I was explaining in the video. So now I want you to contact your federal representative. If you’re not getting satisfaction at the state level. And now that federal representative is in charge of a district in charge of your district. So now put them to work, to find out what’s going on in your area. You keep stirring the pot. You’re going to get money. And this is one of those things in life where you just apply yourself. You go inside yourself. You say, I will not be stopped. I will not be stopped.
There’s something else. There’s someone else. Who else? Who else? Who else, what else? What else, what else do I need to do? Don’t stop with somebody saying no or not giving you any hope. Always ask every person you talk to. Who else should I talk to? Who else do you know? And try to go up line to whomever else within their office might have an answer. And certainly outside of their office, that might have an answer. Now you might have some questions after doing your homework here, you might have some questions and I’m going to make a solution available to you. I’m going to be live. I’m going to be sending you a separate email, pay attention. I’m going to be sending you a separate email. That’s going to give you access to me live and in person. And when we go online, you’re going to be able to ask any questions that you want to ask me.
Listen, I’ve been in this business for over 40 years. I’ve been buying, holding, and selling property. I’ve seen all kinds of issues, all kinds of challenges. I’m going into five fifth real estate cycle. I’m not afraid at all. I’m not going to be stopped. And I don’t want you to be stopped either. I want to be present to support you, help you and make your business as amazing as it can be. As I know it can be. So join me for that special Q and a session that I’m going to be doing. Like I said, just watch your email. I’m going to be sending you a very special followup email on that. So hopefully this has been valuable to you today, and I look forward to seeing you again soon. Yeah.
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