As the shutdown drags on, many companies have reached out to furloughed federal workers and contractors with offers to waive late fees and help with payment arrangements.
Now the National Rental Home Council (NRHC), a trade group made up of some of the largest single-family home rental owners in the country, including Progress Residential and The Bainbridge Companies, is offering relief to its renters with rent deferrals and fee waivers.
As a result of the government shutdown, an estimated 800,000 workers aren’t being paid — 380,000 furloughed and 420,000 working without pay. Despite the lack of a paycheck in the new year, these workers are still required to make their rent and mortgage payments.
Federal workers either not being paid or currently furloughed as a result of the government shutdown are estimated to owe approximately $438 million in mortgage and rent payments this month, a new study from Zillow found.
“This is a unique nationwide situation, and we view it as an opportunity to demonstrate how deeply we appreciate the work that our civil servants and military men and women do for our country,” said Chaz Mueller, CEO of Progress Residential, a nationwide company with more than 25,000 single-family homes.
“We recognize the hardship that many of our residents may be facing due to the government shut down and want to alleviate the anxiety these families are feeling.”
According to the companies, unpaid federal workers and contractors can present verifiable proof of their furloughed status to receive the deferred rent and late fee waivers. In addition, some associated contractors and service providers in these communities are offering deferred service and maintenance costs for qualifying renters.
At this point, the owners are looking at a variety of timelines. Progress Residential’s Mueller is already projecting deferrals through February, while a statement from Bainbridge says that it is “continuously monitoring the situation” and will update their renters as the shutdown continues.
Federal workers have received assurances of missed pay following the reopening of the government.
“We are exceedingly hopeful that Congress will do the right thing and give furloughed workers full back pay,” Mueller said. “If this does not occur, we will work closely with affected residents to find solutions to address responsibilities under their lease agreements.”
“The hundreds of thousands of federal workers who are furloughed or working without pay serve our country every day in our airports, national parks, VA hospitals and many more,” NRHC Executive Director Diane Tomb said. “All of us at NRHC are thankful for their efforts, and I’m proud that our members are putting their residents first during this unprecedented shutdown.”
Collectively, the members of the NRHC own more than 200,000 rental homes across North America.