Given the current national economic situation and an expectation that numerous multifamily developments will experience rent shortages in the next months, and acknowledging the existence of various moratoria on evictions for non-payment of rent, Texas Department of Housing and Community Affairs (TDHCA) is announcing that it expects to not enforce its penalty, acceleration or foreclosure options for nonpayment on multifamily notes under its control for 60 days beginning on April 1, 2020, until May 31, 2020, to allow for the economic situation to stabilize and for implementation of a more comprehensive solution. This is a temporary policy decision and does not reflect any alteration of the rules, agreements or enforcement provisions currently in place; also it does not limit the Department’s ability to enforce other requirements, including, but not limited to, property standards, tenant selection or affordability.
TDHCA is formulating policies that work for owners and low-income Texans in response to the COVID-19 disaster declaration and may expand or extend this temporary policy in the future. If you have any questions, please contact your assigned asset manager, who can be identified by visiting http://www.tdhca.state.tx.us/asset-management/contacts.htm and entering the county in which the development is located.
