The Resident Relief Foundation made 126 rental assistance grants since April of 2020 to help keep renters facing eviction due to a financial crisis remain in their homes.
LOS ANGELES, June 1, 2022 /PRNewswire-PRWeb/ -- The Resident Relief Foundation (RRF) grew steadily through the pandemic, announcing it made 126 rental assistance grants since April of 2020 and that it has crossed over $1 million raised to help keep renters facing eviction due to a financial crisis remain in their homes.
The five-year-old nonprofit, started by real estate investment entrepreneurs Damian Langere and Keith Wasserman, has awarded more than $500,000 in grants to residents in 21 states. Each of the more than 225 grant recipients since 2017 have also completed a financial education course provided by RRF to help them manage their money more effectively.
"In addition to the gratitude they express for the rental relief, another recurring theme we see in all of the families we help is how much they appreciate the free financial literacy course they are required to complete in order to receive a grant," said Tina Oswald, co-founder and executive director of the Resident Relief Foundation.
The average RRF rental assistance grant is $2,300, or about 1.5 months of rent. Funding for RRF has largely come from multifamily industry executives, property management firms, private donors and state and local associations like the Colorado Apartment Association, North Carolina Apartment Association, and Arizona Multihousing Charitable Foundation. The multifamily industry has embraced RRF, as it is a benefit they can extend to residents and because they understand it is less expensive and more desirable to keep a good resident in their home than to evict and replace them with a new one.
"We're eternally grateful to our donors and partners for their commitment to helping prevent unnecessary homelessness during a temporary financial emergency, but our need for contributions and visibility is greater than ever and remain our highest priorities," said Oswald.
As state and federal Covid relief packages subside, millions of people already behind in their rent still face the real prospect of being evicted from their homes. The need is only growing and RRF is turning to the multifamily housing industry and the public for help.
The RRF model is proven to help keep more residents in their homes, and because of the generosity of its board to cover overhead, it is one of the few nonprofits where 100 percent of donations go directly to residents who qualify for assistance. Thirty percent of recipients say they would have become homeless if not for the assistance of RRF, underscoring the importance of its work.
About Resident Relief Foundation
The Resident Relief Foundation (RRF) helps responsible residents stay in their homes during a singular, unexpected financial emergency. Whether it's a temporary job interruption, an auto accident, a medical emergency, or a victim of a natural disaster, RRF provides qualified residents with housing stability during a chaotic time and helps them avoid eviction, a forced move, or, worse, becoming homeless. RRF is a 501(c)(3) public nonprofit that helps residents nationally. For more information and to donate, visit residentrelieffoundation.org.
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SOURCE Resident Relief Foundation
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