King County has millions for rental assistance, but payments face delays
Just over 10% of apartment renters in the Seattle metro area were behind on their rent at the end of 2020, and this cost landlords over $761 million, according to an analysis by the National Apartment Association on the impact of the moratorium on evictions.
This moratorium has decreased property values by $14.7 billion and cost public agencies $112.7 million a year property tax revenue, the association said.
It's why the Washington Multi-Family Housing Association (WMFHA) wants to see more public rental assistance funding flow through the economy.
Yet in King County, which this year has appropriated $45 million in federal rental assistance with another approximately $100 million proposed, money won't start to filter out until May.
"That delay is creating more harm to renters who are wondering when they're going to get some assistance and to property owners wondering how they're going to continue to pay their bills," said Brett Waller, WMFHA's director of government affairs. Under most rental assistance programs, the tenant applies for rental assistance that is sent to landlords.
https://www.bizjournals.com/seattle/news/2021/04/16/king-county-rental-assistance.html
