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AGENCY TESTIMONY
Challenges in rent collection and current state of rent arrears
2:41:49
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61 sec
Lisa Bova-Hiatt discusses the challenges NYCHA faces with rent collection and the current state of rent arrears, emphasizing the importance of rent revenue for maintaining developments.
- Current rent collection rate averages 85% across the Section 9 portfolio
- Total rent arrears amount to $441 million across 64,000 households
- Nearly half of all NYCHA's Section 9 households have past due rent
- NYCHA prioritizes keeping residents housed and offers assistance with rental payments and rent reductions
Lisa Bova-Hiatt
2:41:49
Revenue essential for maintaining our developments and providing residents with the quality of life they deserve.
2:41:55
And residents are still struggling to pay COVID era rental arrears.
2:42:01
We are collecting an average of 85% of the current monthly rent charged across our Section eight, excuse me, our Section nine portfolio, which is a positive development.
2:42:12
However, past due rent continues to be an obstacle.
2:42:17
Rent arrears total $441,000,000 across 64,000 households, nearly half of all NYCHA's Section nine households.
2:42:30
Our top priority is to keep residents housed.
2:42:34
And we continue to inform residents about how they can get assistance with rental payments including payment plans and rent reductions when household income decreases.
2:42:45
We are also helping residents benefit from vital rental assistance programs.