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Q&A
NYCHA rent collection rates and current arrears situation
0:54:30
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79 sec
Council Member Erik Botcher inquires about NYCHA's rent collection rates from 2019 to the present, highlighting a significant decline. NYCHA officials discuss the current rent arrears situation and anticipated funding to address the issue.
- Rent collection rates have declined from 88% in 2019 to 65% in the most recent year
- NYCHA is anticipating $185 million in additional funding to help address rent arrears
- After applying the additional funding, NYCHA expects to still have a balance of $360 million in rent arrears
Erik Botcher
0:54:30
In 2019, NYCHA collected 88% of the rent.
0:54:36
2020, it was 81%.
0:54:37
Twenty twenty one, it was 71% of the rent.
0:54:41
Twenty two, sixty four percent and then it was 64% again.
0:54:44
And then last year, it was 65%.
0:54:49
NYCHA is anticipating around $185,000,000 in additional funding to help address this rent arrears problem, which is a big problem because it's a third of your operating budget comes from rent.
0:55:09
After that $185,000,000 is spent to address rent arrears, what do you anticipate the rent arrears rate to be?
0:55:20
What percentage of the rent will NYCHA be collecting in 2026?
Annika Lescott-Martinez
0:55:26
I could not give a percentage of the rent that we anticipate to be collected.
0:55:32
I would say that at that point we would have a balance of $360,000,000 in rent arrears still owed and so we expect that the rent arrears rate would increase but I could not tell you by what figure.
0:55:44
It really does depend on tenant behavior.
Erik Botcher
0:55:46
One more question chair I apologize.
Chris Banks
0:55:49
You may.