Blog Post

Top Financial Resources to Support Your Residents

Appfolio Websites • March 30, 2020

By Brittany Benz

The team at Newman Properties, cares for each and everyone of our tenants, and hope that during this difficult time you maintain some method of income. Unfortunately, like many Americans, this is not the case. We hope that the below resources will be of some help to you and yours.

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As COVID-19 has evolved into a pandemic, many businesses — big and small — have been forced to close their doors, causing a spike in unemployment. According to The Guardian, a record 3.3 million people filed claims for unemployment in the United States last week, and this number is only expected to grow.

Many property and community association managers are concerned about their residents health, safety, and financial well-being. Fortunately, there are many organizations out there that have quickly mobilized funds and assistance to ease these financial hardships. Here’s a list of resources you can send to your residents to help support them during this tough time:

Financial Resources:

U.S. Department of Labor

A cabinet-level department of the U.S. federal government, the Department of Labor is responsible for occupational safety, wage and hour standards, unemployment insurance benefits, and more. Their unemployment insurance programs provide benefits to eligible workers who become unemployed due to coronavirus.

One Fair Wage

Led by advocates for restaurant workers, One Fair Wage is a nonprofit, non-governmental organization. Right now they are providing cash assistance to restaurant workers, car service drivers, delivery workers, and personal service workers who are financially struggling due to temporary unemployment.

U.S. Small Business Administration

A U.S. government agency, the SBA provides support to entrepreneurs and small businesses. At the moment they are currently offering low-interest loans of up to $2 million to small businesses and nonprofits in certain states that have been impacted by COVID-19.

Restaurants Care

With the goal of promoting the health and prosperity of the foodservice industry, Restaurants Care is offering grants to restaurant workers who have tested positive for coronavirus, if they are a caregiver for an immediate family member who has contracted the disease, or if they have been out of work for 3+ weeks with no unemployment benefits.