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Landlords urged to suspend rent increases amid coronavirus pandemic

Posted at 7:12 PM, Apr 20, 2020
and last updated 2020-04-20 19:12:18-04

TALLAHASSEE, Fla. (WTXL) — It's a deterrent designed to lock-in current rent prices throughout the COVID-19 pandemic.

The Florida Housing Finance Corporation is urging landlords to suspend rent increases for their tenants.

This just after the Department of Housing and Urban Development published data that otherwise could lead to rent increases of as much as $50 to $75 a month.

"We want to get the word out to all of our developers and folks, and tenants, and make sure that if they are in our portfolio, if they are renting as a part of our portfolio, we don't want to see rents go up at this difficult time," said Trey Price, the Executive Director of the Florida Housing Finance Corporation.

The Corporation helps landlords for about 5,000 local properties get low interest loans or tax credits that help them manage those properties.

They say property owners who do raise rents during the pandemic would face penalties on those funds in the future.