Act now! Senate leadership must include rental assistance in the next stimulus bill. - SV@Home

Our community needs us now more than ever. Find out more about COVID-19 and its impact on Silicon Valley renters and homeowners.

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Act now! Senate leadership must include rental assistance in the next stimulus bill.

It is now up to the Senate to pass emergency assistance for renters and stabilize the rental market.

On May 15th the House of Representatives passed the HEROES Act, a stimulus proposal that included the “Emergency Rental Assistance and Rental Market Stabilization Act.”  The rental assistance bill had over 135 original cosponsors calling for $100 billion in emergency rental assistance to avert a surge in evictions and homelessness during the coronavirus pandemic. The next step is Senate Action to include these measures in a next stimulus package. Senator Sherrod Brown (D-OH), ranking member of the Senate Committee on Banking, Housing and Urban Affairs, has proposed companion rental assistance legislation with over 35 cosponsors.

Silicon Valley faced a housing crisis before the COVID-19 pandemic-triggered emergency. The emergency response measures put in place locally, such as eviction moratoria, rent freezes, and homeless prevention efforts, have been short-term measures that just move out the problem—eventually unpaid rent will be due. With increased job losses expected, and an uncertain recovery ahead, both landlords and tenants desperately need a federal commitment to emergency rental assistance.

The “Emergency Rental Assistance and Rental Market Stabilization Act” would provide our local governments with the resources needed to provide direct support to the most vulnerable households to cover up to six months of back-rent, and the flexibility to respond to the ongoing impact of the emergency by providing short- and medium-term rental assistance and other housing support. The Act is designed to utilize existing homeless prevention program infrastructure to target this need quickly — with half of the funds to be allocated within 7 days.

To read more details about this legislation, click here.

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