Emergency rental assistance shall be provided under the following general guidelines:
(1) Rental assistance provided under the program may be in the form of loans or grants and shall not exceed an amount equal to twenty-four months of rental payments.
(2) Rental assistance shall be made to applicants who meet specific income guidelines established by the department.
(3) Rental payments shall be made directly to the landlord.
(4) Rental assistance shall be granted on a first-come, first-served basis.