MAA Statement About COVID-19
Apartment communities in Mississippi have not been immune from the effects of the Coronavirus. As an organization of individuals and companies who own, operate and service apartment communities, the Mississippi Apartment Association hopes that you have been able to prioritize planning for the health and safety of your tenants and their guests as well as your employees and other valuable associates.
During this difficult and uncertain time, MAA further asks each of you to look for creative and compassionate solutions to work with tenants whose jobs and income have been interrupted. As examples, MAA members have variously considered waiving late fees for April and May rent payments, accepting rent payments on a weekly or other basis, dividing the amount of rent which cannot be paid immediately over the remaining life of the lease, or even adding a final catch up payment at the end of the lease term, all in an effort to give tenants additional time and opportunities to maintain their rent commitments without the risk of losing their housing.
MAA is searching for additional methods to assist residents in paying their rent. One of the best ways we can help protect the value of your assets is to find ways to assist residents in paying their rent.
Please refer to NAA’s website about the White House directing HUD to cease evictions through April 30.
You may want to consider contacting your mortgage lender about temporary mortgage relief and federal mortgage assistance to protect your credit, prevent possible foreclosure, and ensure your rental property remains available and on the market.
MAA has compiled resources for housing providers on responding to the coronavirus that we continually update.
We are in this together and will be continuing, as a group, to monitor and discuss best practices and developments as a community.