The Association of Independent Rental Operators (AIRO) has announced on Thursday that association is launching a campaign, which will help renters to keep engage in the property business right from their homes. The new campaign enables the rentals to continue the economic cycle alive by supporting with SME’s focused on rental home industry.
In order to support the motive of AIRO, the AIRO members have started contacting the Small Business Administration (SBA) and congress to include the rental home industry in the Coronavirus aid package.
Boss of AIRO, Roger Chapin, said, “Currently, our members – small and independent owners and operators of rental homes – have not been included in any economic stimulus assistance from the government.
Our membership wants to keep families in their homes and continue the economic ecosystem of our market including: mortgage payments to lenders, property taxes to local governments, relying on property management companies, maintaining required insurance levels and a continued reliance on a multitude of small businesses including landscapers, HVAC companies, painters, plumbers and the like,” Chapin further added.
“With good intentions, the government stepped in to limit evictions during this crisis, leading to reductions in rent payments on one end. But on the other end, the small independent rental home owner is still on the hook for all of the expenses associated with keeping people in their homes for the next three, four months or more during these unprecedented times,” continued Chapin.
It is important to mention that about 8 million owners in the US owns different properties between one and 10. However, the small owner operator doesn’t have enough cash nor availability of credit to cover their financial losses. For this reason, the AIRO members have requested the Congress to include the rental home industry in the coronavirus aid relief package to support and save it from crashing due to ongoing pandemic.