COVID-19: CAA Member Update

Posted By: Michael Mini COVID-19 ,

Tuesday, March 31st, 2020

CAA Members,

As we rise to address the human and economic fallout of the coronavirus pandemic, apartment owners and managers are taking extraordinary measures to protect residents, ensure the viability of apartment communities, and continue providing safe housing for more than one-half of all Chicago residents and 1.4 million Illinoisans.

The economic hardship caused by the pandemic — mandated closing of businesses and the resulting loss of jobs — will have a ripple effect throughout the economy. While every apartment operation is unique, owners and managers are partnering with affected residents to find the optimal solution and observing the eviction moratorium included in Governor Pritzker's Stay at Home Order.

CAA has been in contact with our elected officials and remains in close contact with the Mayor's office and her staff as the situation has continued to evolve. Local, state and federal governments are providing unprecedented levels of economic relief for individuals and business to help weather the storm. Direct cash payments to a vast majority of residents, expanded unemployment benefits, grants and increased subsidies to cover rent payments will be delivered soon. These economic recovery benefits will help affected residents meet rent payment obligations and other expenses.

While CAA members are working with residents adversely impacted by COVID-19 to keep them in their homes, unfortunately, some tenants' rights organizations have seized on the current crisis to push an extreme agenda including rent strikes. This effort is part of a nationally-coordinated campaign that, until recently, had gained little attention. CAA is closely monitoring the activity and progress of this effort and are enforcing this message with policy-makers to underscore the severe damage an effort such as this would have on the rental housing market, further impeding the swift economic recovery we will need coming out of the pandemic.

As we know, apartment operations contribute $81 billion to the Chicagoland economy, generate $9.2 billion in tax revenue, and support over 400,000 jobs. Recognized as an "essential business" in the Stay at Home Order, the continued successful operation and maintenance of apartment buildings and the homes they provide cannot be underestimated.

During this difficult time, CAA is committed to working cooperatively with lawmakers to address the challenges of those impacted by COVID-19 while continuing to advocate for public policies that allow apartment owners to provide quality housing for all.

Sincerely,



Michael J. Mini
Executive Vice President

REMINDER: Be sure to view the COVID-19 Industry & Government Resources page of our website for resources. Members may view sample documents and signs on the COVID-19 Sample Documents & Signs page of our website (members must log into the website to view the page).