The U.S. Department of Housing and Urban Development has announced $42 million in finding will be distributed in the form of counseling grants to 468 housing counseling organizations.

Housing counseling programs support those who need assistance with the financial aspects of renting and owning housing, and offer assistance to the homeless as well. In addition to directly supporting housing counseling groups, HUD is allocating some of the funds to organizations that train counselors to develop the necessary skills and become certified.

"We fought hard to persuade Congress to restore funding for housing counseling in HUD's budget and now we're working to make these important resources available as quickly as possible," said HUD Secretary Shaun Donovan.

These funds may help low-income and struggling renters budget to meet their scheduled lease payments, among other results. Rental property management companies in charge of affordable housing might benefit particularly from the increase in federal funding for housing counseling due to the impact on their residents and prospective tenants.