A bill that would provide $350 million in rental assistance to apartment landlords and tenants has moved ahead in the state Senate, drawing support from the multifamily industry.

The New Jersey Apartment Association has called for rental assistance since the earliest days of the pandemic, as it continues to defend against other legislative proposals that it says would have severe unintended consequences. In part two of his two-part column, NJAA Executive Director David Brogan discusses the ongoing need for assistance and the complexity of disbursing it even after it has been approved. He also highlights the potentially devastating effects to both apartment owners and single-family homeowners if lawmakers take actions that further curtail rent revenue.

It will soon be a year since the start of New Jersey’s COVID-19 outbreak, one that has rippled through the state’s apartment industry and left landlords with unease and uncertainty. In part one of a two-part column, New Jersey Apartment Association Executive Director David Brogan answers some of the biggest questions still facing the multifamily sector, including how owners of all sizes are dealing with nonpayment of rent and the ongoing eviction moratorium, along with the prospect of state and federal rental assistance.

The New Jersey Apartment Association is raising new concerns about a bill that would create long-term repayment plans for renters impacted by the pandemic, following Gov. Phil Murphy’s latest show of support for the measure during his recent State of the State address.