CORONAVIRUS RESOURCE PAGE
Our staff wants to extend a big THANK YOU to our many residents and business tenants that have made timely rent payments. Your timely payment alllows us to financially support our employees, vendors, utilities and municipalities that provide the important services you rely on every day.
COVID-19 Reporting Requirement and Wellness Program
Please note that any resident with a confirmed case of COVID-19 is asked to immediately report this information to our office and to self-isolate as recommended by the CDC guidelines. It is necessary that you share this information so that we may take extra precautions to prevent the spread of the virus. In addition, if you are at high risk and need assistance with obtaining essential items for your health and safety, please feel free to contact our office. Our staff is here to assist you in getting the help you need.
Adjustments to our Business Operations
Please view our latest Blog post for up-to-date information on adjustments to our business operations.
Rent Due Date - Extended Grace Period
During this time of uncertainty for many due to the COVID-19 health crisis, Prospect Leasing & Management is doing what we can to make paying your rent a little easier.
NOTICE FOR RESIDENTS:
Prospect Leasing & Management will be providing its qualifying residents* who have experienced loss of income and payroll disruptions due to COVID-19, additional time to pay their rent. We will be extending the grace period from the current date of the 5th day of each month as follows:
April Rent - April 19th
May Rent - May 15th
June Rent - June 12th
July Rent - July 10th
August Rent - August 7th
Please contact our office if you have been affected and will need the additional time. *Note: In order to qualify, your account must be in good standing as of the last day of the prior month with no past due balances.
IMPORTANT NOTICE TO RESIDENTS WHO ARE STRUGGLING TO PAY RENT:
Have you become unemployed after March 1, 2020 due to COVID-19; or experienced a reduction in annual household income resulting from reduced work hours/wages due to COVID-19?
You may qualify for assistance to cover the rent through the PHFA CARES Rent Relief Program. As of October 17, 2020 a significant reivision has been made to the program that will allow our full partitication for residents that are at least one month behind with their rent payment and meet the income limits. Applications are now being accpeted through November 4, 2020 and is offered on a first come first served basis. Please visit: https://www.phfa.org/pacares/rent.aspx for informaiton on how to apply and contact our office for assistance in completing this three part application.
NOTICE FOR BUSINESS TENANTS ONLY:
Prospect Leasing & Management will be providing its qualifying business tenants who have been mandated to close their physical location, additional time to pay their rent. We will be extending the grace period for the months of April and May in one of two ways:
Option 1 - For all Business tenants affected, from the current date of April 5, 2020 to April 19, 2020 for April Rent and from the current date of May 5, 2020 to May 19, 2020 for May Rent. No verification is necessary, but please contact our office if you intend to take advantage of this extension.
Option 2 - Business tenants (small businesses, sole propreitors, independent contractors and self-employed) who apply and are approved for an 'SBA COVID-19 Economic Injury Disaster Loan' the rent grace period will be extended up until funding for the loan is received (a maximum of 60 days from original due date). Note: In order to qualify for option 2, documentation must be provided to our office showing application and eligibilty for a loan. Visit: https://covid19relief.sba.gov/#/ to apply.
Also, please note that funds from an 'SBA Paycheck Protection Program Loan' which is forgiveable, may also be used toward rent and utilities, as well as, payroll and employee benefits. Additional information regarding this program and other available assistance for businesses can be found at: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-2