Are you an Owner or Legal Representative of an Owner with Residential Properties in Oregon?
The Landlord Compensation Fund Program provides relief to residential landlords who have been unable to collect tenant rent due to tenant financial hardships. Landlords can directly apply for these resources through an online application portal. Landlords whose applications are accepted and awarded will receive 80% of unpaid rent they are owed by qualified tenants from April 2020 through the application period. They will be required to forgive the remaining 20% of unpaid rent.
Landlord Compensation Fund
Program
at a Glance
The Landlord Compensation Fund is a landlord-based program where the landlord submits applications for funding to cover unpaid rent from tenants in Oregon who submit a Declaration for Financial Hardship.
This application portal will be open to accept Round Three Applications from June 1st, 2021 through June 23, 2021 at 11:59 PM; we plan to close on Sundays for system maintenance.
Before you start your application, please review the checklist of information you will need!
A tenant cannot initiate this application. If you are tenant in need and you can’t afford your rent or utility expenses, contact your local community action agency or call or text 2-1-1 for assistance.
Am I Eligible?
Owners of Residential Property in Oregon who have been unable to collect tenant the full rent due from their current tenants since April 2020 due to declared financial hardships are eligible for this program.
Oregon Housing and Community Services will score each application based on:
- The number of rental units owned (more points for less units).
- The higher percentage of unpaid debt (debt to collection ratio).
How Much Assistance is Available?
The Oregon Legislature has provided $150 million in one-time funds for this voluntary program to assist landlords in keeping financially stressed tenants in their homes and to help mitigate the impact on both tenants and landlords of the untenable levels of debt accrued for some over the course of the pandemic.
Landlords whose applications are accepted will receive 80% of unpaid rent they are owed by current qualified tenants (from April 2020 on). They will be required to forgive the remaining 20% of unpaid rent.
Funding rounds are anticipated to be opened monthly until all resources are obligated.
How Can The Landlord Compensation Fund Help Me?
The Landlord Compensation Program is designed to provide relief to residential landlords who have been unable to collect tenant rent due to tenant financial hardships. You may be eligible to receive 80% of tenant unpaid rent from qualified tenants (from April 2020 on). However, you will be required to forgive the remaining 20% of unpaid rent.
How Do I Apply?
Property owners or Legal Representative of an Owner must complete an application which includes questions about the property and requires the following documents and actions:
- Issue a notice to tenants that the Owner will be submitting an application for relief through the Landlord Compensation Program.
- Provide through the application portal monthly rent collection information for all units for each month from April 1, 2020 through date of application; including tenant contact information for those current tenants with rent owed
- Review and Sign required program documents in the system
- Provide IRS W-9 form for all properties
- Include signed Tenant Declaration of Financial Hardship to establish program eligibility for each tenant with rent owed.
What Happens Next?
If you are recommended for funding, you will have to sign a program agreement and your property or properties will then be assigned to the local Public Housing Authority. The local Public Housing Authority will verify property ownership, confirm tax information, make direct payments to landlords, and inform your tenants that their rental debt has been covered.
What Else Do I Need to Know?
For all the program details and requirements, review the Landlord Compensation Fund Program Guidelines. If you have additional questions that are not covered in the FAQ or have feedback or concerns, please email HCS.LCF@oregon.gov. To report potential Landlord Compensation Fund program fraud or concerns: HCS.Internal_Audit@oregon.gov.
Oregon Housing Community Services is an Equal Opportunity Housing entity. Assistance is available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry. Please visit https://www.oregon.gov/ohcs/Pages/index.aspx for more information.