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

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Kamaji:
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/

Kamaji:
"Good enough for government work" is most definitely not a compliment.

Restored:
Maybe they got used to not paying during Covid when it was optional

Fishrrman:
65% ???

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

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