NYC renters behind $1B on payments
The sunlight flares around the buildings in lower Manhattan as the sun rises in New York. (AP Photo/J. David Ake)
NEW YORK - New York City renters owe more than $1 billion in back rent according to a new survey.
The findings by the Community Housing Improvement Program (CHIP) found that 175,000 to 185,000 rent-regulated tenants are more than two months behind.
The survey also found about 50,000 tenants are more than $15,000 behind in their rent. That is nearly a year behind using the Rent Guidelines Board estimate of an average rent-regulated apartment costing $1,400 a month.
COULD UNIVERSAL BASIC INCOME COME TO NYC?
The average renter in arrears owes about $6,173.21 according to the survey.
CHIP represents the owners and operators of more than 400,000 rent-regulated apartments in the city.
"We have a clear blueprint to protect renters from eviction and the housing system from collapse. The government needs to pay the rent for those who can’t afford it," Jay Martin, executive director of CHIP said. "The government has mandated that owners provide housing without compensation throughout the public health crises regardless of the renters’ ability to pay. Our owners have done their part, now the government must do their part to help pay for the cost of housing thousands of people."
While tenants call for another extension to Governor Cuomo's eviction moratorium, landlords are seeking some relief of their own. Many say that while their tenants receive state protection - the banks are still calling them to collect.