Survey: Roughly 136,000 Rent Regulated Renters In Arrears
(New York, NY) — An estimated 136,000 renters in rent-stabilized buildings are more than two months behind on rent, and roughly 43,000 of them are more than $15,000 in arrears, according to a new survey by the Community Housing Improvement Program (CHIP). Unfortunately, less than half of the tenants in arrears have applied to the Emergency Rental Assistance Program (ERAP).
CHIP estimates that only about 58,000 renters in rent-stabilized buildings have applied for the emergency rent assistance. That is about 43%. CHIP’s survey also estimates that more than 25,000 renters who have received ERAP funds are now more than two months behind in rent.
“If you look at just the renters in rent-stabilized buildings, they have more than $1 billion in rent arrears. Statewide, the amount of rent owed is definitely double that and may be three times as much,” said Jay Martin, executive director of the CHIP.
The survey was conducted from February 15-17. The sample size was 49,800 units in rent-stabilized buildings.