The San Mateo County Strong Fund has a new grant program for small-scale residential rental property owners who've lost income due to COVID-19.
The Small Property Owner Assistance Program is accepting applications from Oct. 14 through at least Oct. 28, 2020.
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To qualify for grants, property owners must meet all of the following criteria:
- Live in San Mateo County, including within any incorporated city or unincorporated area of the County; and
- Lease/rent residential rental properties in San Mateo County, including within any incorporated city or unincorporated area of the County; and
- Rely on rental property income from qualifying rental unit(s) as their primary income source, as shown by 2018 and 2019 tax returns; and
- Earned less than $400,000 in annual gross rental income from qualifying rental unit(s) in both 2018 and 2019.
The amount of each grant is based on demonstrated lost rental income during the period of April 1, 2020 through August 31, 2020 for a qualifying unit and, therefore, actual grant amounts will vary. However, the maximum grant amount for each qualifying unit is $6,000.