You may be able to get funds to repair your rental property while helping survivors of the recent severe storms and floods at the same time.
The Multi-Family Lease and Repair Program (MLRP) may provide funds to make your rental units habitable again in order to lease them to provide temporary housing to eligible FEMA applicants.
-Repairs or improvements do not need to be storm-or flood-related.
-You may choose your own contractor after you’ve agreed with repair costs with FEMA.
The value of the improvement or repairs will be deducted from the value of the lease agreement but may not exceed its total value.
There are certain criteria you must meet to qualify for MLRP funds:
-Your rental property must have five or more units to qualify as multi-family.
-The property must have been previously used as a rental unit.
-The property must be located in one of the following parishes: Acadia, Ascension, Avoyelles, East Baton Rouge, East Feliciana, Evangeline, Iberia, Iberville, Jefferson Davis, Lafayette, Livingston, Point Coupee, St. Helena, St. Landry, St. Martin, St. Tammany, Tangipahoa, Vermilion, Washington or West Feliciana.
-The property must be located within reasonable access to community services likes schools and grocery stores.
-The property must not be located in an area prone to flooding.
-The property must be available to be leased to FEMA for its exclusive use as temporary housing for no less than 18 months.
-The property owner must provide all property management services.
-Repairs must comply with local building codes, standards, permitting, inspection requirements and other laws.
Call 225-382-1464 or email fema-ia-dhops@fema.dhs.gov if you’re a property owner interested in repairing your rental property and assisting disaster survivors.
