Have rent reporting questions? Check here for our most common questions. For additional questions, please reach out directly to your Client Experience Manager:
1. How will recipients of rent relief be selected?
Answer:
Esusu, Inc. manages the selection process based on a thorough review of applications. The criteria for selection are set by the Stable Home Fund, a 501(c)(3) partner. Key factors include:
Financial need
- Low rental payment delinquency (three months or less)
- Completed application
- KYC identity verification
Our goal is to help those most likely to repay the loan and prevent, rather than delay, eviction.
2. What types of documentation do residents need to provide to prove financial need?
Answer:
Residents are required to verify their residence (via lease upload), rent amount, delinquency status, and link their bank account. However, we do not ask for documentation that proves financial need, such as a job loss notice. We aim to lower the barriers for access and avoid burdening applicants during hardship.
3. Why is the relief limit set at three months or $5,000?
Answer:
The Rent Relief Fund is structured to help renters stay in their homes during short-term financial difficulties. The three-month limit (or $5,000 cap) is intended to be a temporary support to avoid eviction and prevent long-term financial crises.
4. Can a resident apply for more relief than their current delinquency? Can they apply if they are not yet delinquent?
Answer:
Yes, residents can apply for more than their current delinquency if they foresee needing additional rental assistance. Applicants can explain their circumstances in the application, and Esusu will take that into consideration.
5. What is required of renters receiving Rent Relief?
Answer:
Renters must complete an application via the Rent Relief Portal, which can be accessed through a computer or smart device. The process includes:
- KYC identity verification
- Linking a bank account for repayments
- Electronically signing the loan agreement
A bank account is required to apply.
6. Can residents apply for multiple rent relief loans?
Answer:
Yes, residents can apply for additional funding under the following conditions:
- The total amount is under the three-month/$5,000 cap
- The current loan is in good standing
- A valid reason for the additional funds is provided
Residents who have fully repaid a prior loan are eligible to reapply if needed.
7. What happens if residents cannot repay the loan?
Answer:
Esusu’s priority is to help residents stay in their homes. We offer flexible repayment options, including direct debits and loan restructuring. While we encourage repayment, we do not send accounts to collections. In some cases, loans may be written off if repayment is not feasible.
8. What is expected of property managers?
Answer:
Property managers will be notified when a resident applies for rent relief and when payments are disbursed. For further details or specific responsibilities, contact your Esusu account representative.
9. How do properties receive funds from Rent Relief loans?
Answer:
Funds are deposited directly into the property manager’s bank account via same-day electronic deposits.
10. How long does it take to process rent relief?
Answer:
The timeline varies depending on multiple factors, such as:
- Property manager verification (if needed)
- Resident verifying their bank account
- Resident signing the loan agreement after approval
Esusu’s underwriting process can take up to three weeks.
11. How long does a resident have for bank verification and signing the loan agreement?
Answer:
Residents have up to 30 days to complete each process: verifying their bank account and signing the loan agreement.
12. Where do the funds for Rent Relief come from?
Answer:
Rent Relief is funded through:
- Foundation-donated capital
- Esusu Founders' shares
- Renter repayments of rent relief loans
While there is no fixed fund size, Esusu ensures the Rent Relief fund remains evergreen to meet demand. We encourage renters to repay loans to keep the program self-sustaining for others in need.
13. Are landlords involved in the decision-making process?
Answer:
No, landlords or property managers are not involved in the rent relief decision-making process. They only verify whether the resident resides at the property. Esusu separates the rent relief program from landlord-resident relationships to avoid any conflicts of interest.
Still Have Questions?
If you have any questions or need any additional guidance, please reach out to our support team at rentsupport@esusu.org