Coronavirus and Your Money

Renters: Help Is On The Way

Renters worried about being evicted from their homes or apartments can breathe a sigh of relief as the new $1.9 trillion stimulus package sets aside much needed funds for them to tap.

The $1.9 trillion stimulus package signed by President Joe Biden allocates $21.55 billion to the Emergency Rental Assistance program to provide rent assistance for those in need. 

[Stay on top of all the new stimulus bill developments – Sign up for the Kiplinger Today E-Newsletter. It's FREE!]

Eligible recipients can use the funds to pay for rent, utilities and other energy costs. To qualify, your household must not exceed 80% of your area’s median income and at least one member of your household must have qualified for unemployment or experienced financial difficulties because of the pandemic.   You can receive up to 12 months of assistance, plus an additional three months if you’re at risk of homelessness. Maximum payouts may be determined by your state or local housing assistance program.

To apply, households (or their landlord) must submit an application to their state or local housing rental assistance program. Once approved, the local agency distributes funds directly to the landlord or your utility provider. 

The bill also allocates $5 billion in emergency housing vouchers for those who recently became homeless or are on the brink of homelessness.  The voucher fund will be available through September 2030.

Most Popular

2021 Child Tax Credit Calculator
Tax Breaks

2021 Child Tax Credit Calculator

See how much money you'll get in advance under the new child tax credit rules for 2021.
April 14, 2021
Monthly Payments of the 2021 Child Tax Credit Will Begin in July
Coronavirus and Your Money

Monthly Payments of the 2021 Child Tax Credit Will Begin in July

After doubts about whether it was up to the task, the IRS says it's on schedule to start sending monthly child tax credit payments this summer.
April 13, 2021
Child Tax Credit 2021: Who Gets $3,600? Will I Get Monthly Payments? And Other FAQs
Coronavirus and Your Money

Child Tax Credit 2021: Who Gets $3,600? Will I Get Monthly Payments? And Other FAQs

People have lots of questions about the new $3,000 or $3,600 child tax credit and the advance payments that the IRS will send to most families in 2021…
April 14, 2021

Recommended

The Wrong Way to Achieve Wealth
personal finance

The Wrong Way to Achieve Wealth

For some down-to-earth, basic advice on money and life, I have a book to recommend: “Your Total Wealth: The Heart and Soul of Financial Literacy.”
April 17, 2021
Financial Planning Lessons Regular Folks Can Learn from Professional Athletes
personal finance

Financial Planning Lessons Regular Folks Can Learn from Professional Athletes

The image we have of lucrative contracts and lavish lifestyles for baseball players and other pro athletes can be pretty far off base. In fact, these …
April 15, 2021
COVID-19 Super Savers Need to Carefully Navigate in a Post-Pandemic World
personal finance

COVID-19 Super Savers Need to Carefully Navigate in a Post-Pandemic World

The pandemic has turned many people into saving machines, which is great, but that comes with its own set of risks. These frugal folks need to be extr…
April 13, 2021
‘Gray Divorce’ Rates Are Exploding Due to This Perfect Storm
Divorce

‘Gray Divorce’ Rates Are Exploding Due to This Perfect Storm

Here’s why divorce rates among those 50 and older are booming … and what women can do to recover and rebound.
April 12, 2021