Stable Home Fund’s Rent Relief Program Application Review Guidelines - For Property Managers

Ideal Rent Relief Applicant

When reviewing applications, look for the following traits to determine if an applicant qualifies:

1. Good History of Rent Payments
   • The applicant should have a solid record of paying rent but is currently dealing with a temporary financial issue. If the hardship is expected to be short-lived, they’re likely a good fit.
2. Less Than Three Months of Delinquency or Less Than $5000 Delinquency
   • Ensure the applicant is under three months behind on rent payments or owes less than $5000. Applicants with more than three months of delinquency or more than $5000 delinquency do not qualify.
     1. Why this matters: The program is designed to help renters avoid slipping further into debt. Delinquency beyond three months may indicate long-term financial instability, which the program cannot address.
3. Temporary Need for Assistance
   • Verify that the applicant only needs short-term support to get back on track. You can gauge this by their payment rental history.
4. No Active Eviction Proceedings
   • If the applicant is already facing eviction, they may not qualify for relief. The program is most effective for those not yet in formal eviction processes.
5. Connected Bank Account
   • The applicant should have linked their primary bank account (used for rent, income, and expenses). The account should be current and active.
     1. If they connect a secondary account, request recent bank statements that reflect rent payments and major transactions.
     2. View the list of Plaid-compatible bank accounts.
6. Clear Financial Disclosure
   • The application must include details about the applicant’s financial situation, reason for requesting relief, and a plan for recovery. Supporting documents should also be included if relevant.
7. Income Source Provided
   • Ensure the applicant has disclosed their source of income, whether it's employment, disability, pension, or another form of support. If unemployed, confirm that they have plans for future income.

Unideal Rent Relief Applicant

If an applicant displays any of the following traits, they may not qualify for the program:

1. Poor Rent Payment History
   • Look out for applicants with a history of missing payments or struggling financially for a long time. These applicants may require more than temporary assistance.
2. Delinquency of More Than Three Months
   • Applicants with over three months of unpaid rent or more than $5000 in debt likely won’t qualify, as temporary assistance won’t be sufficient to resolve their situation.
     1. Why this matters: The program is designed to help people who are temporarily behind, not those who have significant, long-term financial issues.
3. In Need of Long-Term Financial Assistance
   • Check if the applicant’s credit and rental history shows prolonged issues. If temporary assistance won’t solve the problem, they may not be a good fit.
4. Eviction Proceedings in Progress
   • Applicants who are already in the process of being evicted are unlikely to benefit from the program’s temporary relief.
5. Issues Linking Bank Accounts
   • If the applicant is unable to connect a bank account or upload bank statements showing rent payments, income, and expenses, this may be a red flag.
   • Additionally, if the applicant connects a dormant or inactive account, that could also be a concern.
   • If their primary bank account doesn’t show these transactions and they haven’t provided recent bank statements, this could disqualify them.
6. Incomplete Financial Disclosure
   • Missing financial details or a lack of a recovery plan can be a sign that the applicant is not prepared for the temporary nature of the relief.

Still Have Questions?

If you have any questions or need any additional guidance, please reach out to our support team at [e-mail].