AUGUSTA, GA – Rental Property Owners Left in the Cold Post-Helene
As Augusta continues to navigate the aftermath of the recent storm Helene, it looks like the city’s rental property owners are facing a chilly predicament. While homeowners and renters can tap into FEMA assistance for their primary residences, the same cannot be said for those who own rental properties. Many of these landlords are now shaking their heads, grappling with how to recover from damages to homes that weren’t designated as their primary residence.
The Gap in Assistance
You see, FEMA is great at helping homeowners and renters get back on their feet, but if you own the rental home that got hit hard during the storm? Well, you might end up feeling a bit helpless. Such properties are often left out in the rain when it comes to federal aid.
At a recent town hall hosted by Mayor Garnett Johnson, several landlords voiced their confusion and frustration. They didn’t know where to turn for help once they discovered that their properties were damaged and insurance claims weren’t moving forward.
Landlords Share Their Struggles
One rental property owner, Collin McCoy, shared his experience, which many can resonate with. He felt let down by the traditional route of going through insurance. “I was actually denied loss of rent because, at first, they told me the house was habitable,” Collin detailed. Yet, he couldn’t understand how a house with partially exposed rooms could possibly be livable. “I could see sky through two of the rooms!” he exclaimed, incredulous about his insurance company’s assessment.
His battle has been ongoing. Months after the storm, he’s still without any assistance. “It’s been pulling teeth working with the insurance company. It took me almost 20 days just to get someone to look at the property,” Collin lamented. “To this day, I have not received funds to start any projects. You pay into these programs, and you expect a little better care!”
Seeking Alternatives
So, what are these rental property owners supposed to do? Well, they’re being directed to consider loans from the U.S. Small Business Administration. These loans, often viewed as a lifeline, can have low-interest rates and could cover up to $500,000 for homeowners who also rent out properties. “These loans can be a great support for property owners waiting on insurance claims,” noted Antwon Harris, a Public Affairs Specialist at the SBA.
However, while some are willing to explore these loan options, others remain hesitant. The prospect of taking out loans can be daunting, especially when times are tough. “I’ve done as much as I can on my own,” Collin pointed out. “I’ve probably cut up 12 trees, maybe more. It’s bad, it’s real bad.”
Looking Ahead
Despite the struggles, many property owners are keeping their spirits up. They’re focused on finding a path back to normalcy and financial security. For them, every small step counts as they rally to rebuild and repair their properties.
As Augusta moves forward from the storm, the community is abuzz with conversations about gaps in assistance for property owners. Let’s hope city leaders take a closer look at these concerns and find better solutions for those feeling left out in the cold.
For those navigating this challenging landscape, help is out there, and staying informed is crucial. Let’s keep supporting our neighbors as they rebuild. Together, we can foster a stronger, more resilient Augusta!
