Author Topic: NYCHA rent collection plummets to 65% — a record low for agency  (Read 258 times)

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Offline Kamaji

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NYCHA rent collection plummets to 65% — a record low for agency

By Jasmine Sheena
January 24, 2023

Cash-strapped NYCHA’s rent collection is crashing to a record low.

The public housing agency reportedly collected just 65% of the rent it charged during the 12 months leading up to December — the lowest in NYCHA’s history.

The alarming cash drain — figured at about a half-billion dollars — is the lowest in NYCHA’s history, and a stunning slide from annual pre-pandemic numbers of 90% or better, the New York Times reported.

The money loss could also hobble the agency’s performance of essential services — like repairing elevators or addressing mold growth at 177,569 apartments within 335 developments around the city.

NYCHA houses one in 16 New Yorkers — and advocates told The Post the coffers can’t be allowed to go dry.

“The state has to dole out the money or find the money,” Iziah Thompson, a housing analyst with tenants’ rights organization Housing Justice For All, told The Post.

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Source:  https://nypost.com/2023/01/24/nycha-rent-collection-crashes-to-record-low/

Offline Kamaji

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Re: NYCHA rent collection plummets to 65% — a record low for agency
« Reply #1 on: January 25, 2023, 01:52:16 pm »
"Good enough for government work" is most definitely not a compliment.

Offline Restored

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Re: NYCHA rent collection plummets to 65% — a record low for agency
« Reply #2 on: January 25, 2023, 02:16:20 pm »
Maybe they got used to not paying during Covid when it was optional
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Offline Fishrrman

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Re: NYCHA rent collection plummets to 65% — a record low for agency
« Reply #3 on: January 25, 2023, 10:55:33 pm »
65% ???

I'm surprised it's that high...