Q&A
NYCHA's rent collection rates: pre-pandemic vs. current
0:34:21
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43 sec
Council Member Sanchez asks about NYCHA's current rent collection rate of 68% compared to pre-pandemic levels. Annika Lescott-Martinez, NYCHA's Chief Financial Officer, provides a comparison of rent collection rates and arrears balances before and after the pandemic.
- Pre-pandemic (December 2019): 90% collection rate with $125 million in arrears
- Current (August 2024): 68% collection rate with $487 million in arrears
- Significant decrease in collection rate and increase in arrears balance noted
Pierina Ana Sanchez
0:34:21
And then last question.
0:34:24
Yep.
0:34:25
Last question is regarding your opening testimony, you said that NIOSH collections today are at 68%.
0:34:33
And I know you spelled out some numbers, but how does 68% compared to pre pandemic levels?
Annika Lescott-Martinez
0:34:38
Sure.
0:34:38
Thank you.
0:34:39
Question council member.
0:34:40
So prior to the pandemic, just to sort of connect the arrears balances that I mentioned before in the collections.
0:34:48
So in December 2019, when we had $125,000,000 owed, our collection rate was 90%.
0:34:55
And now we're at $487,000,000 owed in 68%.
0:35:01
And that is preliminary as of August 2024.
