FOR IMMEDIATE RELEASE
Contact Mike Nemeth, communications director, mnemeth@caanet.org or (916) 449-6426

The California Apartment Association today said it looks forward to working with Senate Pro Tem Toni Atkins, D-San Diego, and other Senate leaders to refine a rental-relief proposal expected to be unveiled this morning.

Under the proposal, landlords who voluntarily forgive unpaid rent would receive tax credits to cover their losses. The tax credits would be fully transferable.

“During these unprecedented times, we appreciate the Senate Pro Tem’s creative effort to help tenants and rental property owners,” said Tom Bannon, chief executive officer for CAA. “The California Apartment Association is committed to working with the Senate to refine this voluntary program to ensure tenants can stay in their homes and rental property owners – especially mom and pop owners – are able to continue to pay their bills and their employees.”

The California Apartment Association is the nation’s largest statewide trade group representing owners, investors, developers, managers and suppliers of apartment communities. CAA recognizes its ethical duties to the communities its members serve and insist on upholding the utmost integrity in the multifamily housing field. CAA’s Code of Ethics guides the association’s dealings with all people, and we encourage all rental housing professionals to abide by it.