- How can I increase the value of my multifamily investment property? - March 28, 2023
- Value of Representation Exclusively Listing Your Property for Sale - March 27, 2023
- Why is eXp Commercial a better choice for Commercial Real Estate Agents than other commercial real estate brokerages? - March 27, 2023
The second round of rental assistance funding is now available for residents who have experienced economic hardship during the pandemic.
You can watch him make the announcement from East St. Louis this afternoon.
The Illinois Rental Payment Program (ILRPP) will distribute more than $1B in funding to Illinois renters and landlords to help prevent evictions.
Gov. Pritzker also signed HB 2877 into law establishing a new structure to efficiently distribute rental assistance to residents. It also allows for the sealing of eviction records until August 1, 2022.
Gov. Pritzker said the ILRPP will ensure at least 120,000 household renters see relief. He says any eligible resident who is a renter and behind on payments due to financial hardship is eligible. The money is paid directly to their housing provider or landlord.
The funding can cover missed rent payments as far back as June 2020. You can also prepay payments through August 2021, or until the funding is exhausted.
Applications for ILRPP will be accepted May 17 – June 7. Interested residents can apply online at: ILRPP.IHDA.org.
Tenant eligibility requirements:
- Households must have experienced a financial hardship directly or indirectly due to the pandemic.
- 2020 household income was below 80% of the Area Median Income (AMI), adjusted for household size.
- The household lives in Illinois and rents their home as their primary residence.
- Households must have an unpaid rent balance.
- Priority will be given to households earning less than 50% of AMI and to households with one or more members that have been unemployed for at least 90 days.