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AGENCY TESTIMONY
Rent arrears and collection challenges
0:05:25
ยท
47 sec
NYCHA faces significant challenges with rent arrears, which have increased fourfold since before the pandemic. The agency is struggling with rent collection and the impact on its budget.
- Current rent arrears stand at over half a billion dollars across approximately 67,000 families
- NYCHA is collecting only 63% of the rent owed, well below HUD's expectation of 95%
- Emphasis on keeping residents housed while addressing the arrears issue
Lisa Bova-Hiatt
0:05:25
Rent arrears have increased fourfold since the year before the pandemic.
0:05:31
They currently stand at over half a billion dollars across approximately 67,000 families, which is nearly half of all households.
0:05:43
NYCHA is collecting only 63% of the rent owed including arrears over a twelve month period, and HUD expects housing authorities to collect a % of the rent.
0:05:57
Our top priority is to keep residents housed, and so we continue to inform residents about the various ways they can get assistance with rent payments, and we continue to work with residents experiencing economic hardship.