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Tenants struggling to pay rent or utilities can seek assistance from New Mexico's ERAP (or "Home Fund"). This program offered financial aid to those who were heavily affected by the COVID-19 pandemic. Landlords benefited from the rental assistance too, as it gave them money they could use to pay for their living expenses.

Here, we'll cover New Mexico's rental assistance program, as well as other information you may find useful.

Disclaimer: As of June 30, 2023, the New Mexico Emergency Rental Assistance Program has stopped accepting new applications. Those living outside the Albuquerque city limits, however, may still be able to apply, as its program is administered by Bernalillo County. We suggest you check your county's official portal for more information.

What Is ERAP in New Mexico?

The Emergency Rental Assistance Program (ERAP) helped tenants pay rent, utilities, and other bills to avoid getting evicted. Even though New Mexico's program was designed for renters, homeowners or landlords indirectly benefited from it.

Depending on the case, the household could receive up to 15 months of assistance.

How Does ERAP Work in New Mexico?

Those who applied to ERAP received financial assistance during their lease. The money covered:

  • Past-due rent
  • Future rent
  • Utility bills (water, gas, electric, fuel oil, trash, etc.)

What's the Difference Between ERA1 and ERA2 Phases?

ERA1 refers to the first phase of the rental assistance program, approved by the Consolidated Appropriations Act of 2021.

ERA2, on the other hand, offered further assistance to renters due to the ongoing effects of the pandemic. It was approved by the American Rescue Plan Act of 2021.

How Does ERAP Benefit Landlords in New Mexico?

Landlords who get the funds from their tenants can ensure they get enough money to live during these uncertain times. This helps avoid evictions, misunderstandings, and other potential problems with their tenant.

What's the Landlord's Role in ERAP?

Their role is to assist the tenant during the application process.

Landlords can also apply on the tenant's behalf and get their confirmation before submitting everything.

Who Is Eligible for ERAP in New Mexico?

  • Applicants with a household income of 80% of the area median income (or lower).
  • Applicants who qualified for unemployment benefits, experienced a reduction in income, or went through any other hardship due to COVID-19.
  • Applicants at risk of experiencing homelessness or housing instability.

Can Tenants on Other Housing Plans Apply for ERAP in New Mexico?

There's no current information about this, as the program is closed. However, research suggests that tenants on other plans, such as Section 8, could apply for ERAP as long as the previous benefits weren't equal to their entire debt.

How to Apply for ERAP in New Mexico

To get started with the application process, you would have to get the following documentation:

  • Proof you're renting the property you're applying for.
  • Proof of income for every household member, including past-due rent bills, utility bills, canceled checks, etc.
  • Proof that one or more members of the household are at risk of experiencing homelessness or housing instability (such as an eviction notice or a notice of utility shut-off).
  • Proof that the applicant was directly or indirectly affected by COVID-19.

Once you're done, you have to go to your local county's website and apply from there. You're expected to get a response whenever there's funding available.

How You Can Use DoorLoop to Manage Your Rental Portfolio

DoorLoop is an all-in-one rental management platform you can use to handle every key aspect of your portfolio, including communication with your tenants, handling maintenance requests, and gathering payments.

Also, you can check out DoorLoop's "Resources" section for free. You'll get updated and verifiable information about the rental market in New Mexico.

Bottom Line

Moving on with your life during times of financial uncertainty is overwhelming, and the pandemic taught us that. To prepare for potential outcomes in the future, we must stay updated on the latest news surrounding our local rental markets.

If you're struggling to keep up with the information, consider DoorLoop as your handy tool!

David is the co-founder & CMO of DoorLoop, a best-selling author, legal CLE speaker, and real estate investor. When he's not hanging with his three children, he's doing webinars here!

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