Last week, ERA Alabama launched another enhancement to further streamline the application process for Emergency Rental Assistance Alabama funding for Alabama Housing Finance Authority (AHFA)-funded projects.
The new program design allows for advanced, bulk payments of rental assistance by project based on the submission of an AHFA Bulk Payment Information Spreadsheet that includes the projected amount of rental assistance for eligible project residents. After payment, owners (or project management companies) will have 30 business days to complete the process.
The major benefits of the program are as follows:
- Significantly streamlines application requirements for landlords and tenants. Since AHFA landlords/management companies already maintain evidence of their tenant’s income eligibility, a tenant’s application requirements are materially reduced.
- Application processing time to payment is considerably reduced to less than 14 days rather than the current average of 60 days for individual applications submitted via the website.
- Improves and guarantees expedited cash flow and rental collections for landlords.
- Provides immediate relief for tenants who are facing substantial cost of living increases, especially related to fuel and food costs.
Currently, AHFA is processing over $5.1 million in requests for 81 AHFA Funded Projects received within the first week of the program’s implementation. For more information or to enroll, please contact at era@ahfa.com.
