Property Owner Preservation Program
DENVER – Governor Jared Polis and the Department of Local Affairs (DOLA) announced the Property Owner Preservation (POP) Program for rental assistance, resulting from HB20-1410, COVID-19-related Housing Assistance.
This bill allocates $19,650,000 to the Housing Development Grant Fund administered by the Division of Housing within DOLA. These funds will be used to provide housing assistance, including rental assistance, mortgage assistance, and guidance on how to access other housing services to Coloradans facing financial hardship due to the COVID-19 pandemic.
House Bill 20-1410 provided funds to the Division of Housing for housing assistance from the CARES Act Coronavirus Relief Fund. The bill includes a provision that allows landlords and/or property owners to seek rental assistance on behalf of their tenants who have experienced financial need on or after March 1, 2020 due to the first or second order effects of the COVID-19 pandemic. Pursuant to the availability of these funds and the Property Owner Preservation (POP) guidelines, landlords and/or property owners may seek payment in arrears for tenants unable to pay their rental obligations.
Please Note: There are a number of stipulations for landlords and property owners under the eligibility section. Be sure to review.
Click Here to view the full press release
Click Here for program guidelines.
Registering for the Program Property owners must register for the program online or through the mail.
Online registration can be found here: https://cdola.colorado.gov/rental-assistance
We are trying to get a sense of how helpful this program is and how much it is getting used. So if you have some experience with it, let us know. Email firstname.lastname@example.org