Apartment Association of Greater Los Angeles
Daniel M. Yukelson
Executive Director, Apartment Association of Greater Los Angeles
March 24, 2020
The Federal Housing Finance Agency has announced that Fannie Mae and Freddie Mac will grant mortgage forbearance to owners of multifamily properties in exchange for suspending evictions for renters unable to pay their rent due to the COVID-19 outbreak. The eviction moratorium is already law in Los Angeles.
Daniel Yukelson, Executive Director of the Apartment Association of Greater Los Angeles, issued the following reaction today:
“While this only benefits a percentage of landlords with Fannie Mae or Freddie Mac-backed mortgages, this is among the first signs that policymakers recognize the extreme levels at which this problem is being placed on the backs of owners. Mortgages are far from the only expenses owners will be unable to pay under the eviction moratorium. We are hopeful that more relief from federal, state and local leaders is forthcoming to protect owners as more and more public policy benefits tenants at our expense.”
Property owners are having trouble paying their rent during this crisis. AAGLA has resources to help them get through the process. The list of resources for property owners is available at https://aagla.org/coronavirus-resources/ .
About Apartment Association of Greater Los Angeles
Since 1917, AAGLA has served the interests of owners, managers, and developers of multifamily rental housing by delivering high-quality seminars and networking events; acting as advocates at the local, state and federal levels of government; supporting members with management advice and legal forms and notices, and promoting the highest level of professionalism within the rental housing industry.