What Does the End of ERAP Mean for NYC Landlords?

Landlords will be relieved to hear New York’s Emergency Rental Assistance Program will come to an end on January 15, as a result of a recent lawsuit. The settlement states that if more funding from the state or federal government comes in after January 15, the program will accept new applications. However, for the time being, it is set to close on January 15. Landlords are hopeful applications will not reopen as ERAP struggled to get funding throughout all of 2022.

Landlords were infuriated by ERAP as it continued to accept applications although it had little funding left, with no hope for receiving more. Throughout 2022, landlords were forced to house non-paying tenants, as applying for ERAP provided protection against eviction, and with such little funding, landlords were not optimistic about getting repayment.

Some landlords had not been paid rent for as long as two years, but could not seek relief in housing court due to ERAP. There is no doubt that this program has put landlords in impossible situations with having to keep their business afloat while not receiving compensation to do so.

What Does the End of ERAP Mean for Landlords?

After January 15, no more tenants will be able to protect themselves against eviction by applying. However, the current applicants will continue to receive protection against eviction, even after January 15.

This program did not forgive unpaid rent, and tenants will have the legal obligation to pay, however most landlords believe it is not worth the time and money to obtain and collect judgments from tenants that have already vacated their units. Especially when these landlords are losing thousands of dollars due to this program, it can be difficult to spare any more money during this process.

Outerbridge Law—A Trusted Ally for Landlords and Tenants

Not sure what the end of ERAP means for your business? Need legal advice for your strategy moving forward? Turn to Outerbridge Law, P.C.

Outerbridge Law is deeply experienced with landlord tenant issues. Our team’s familiarity with both sides of housing law give us the ability to anticipate arguments your opponents will bring to the table, allowing us to craft a compelling case on your behalf.

Ready to take the next step? Contact Outerbridge Law today to schedule your initial consultation.