New York City Landlords Panic! 25% Of NYC Renters Didn’t Pay June Rent

New York City Landlords Go Into A Panic As 25% Of NYC Renters Didn’t Pay June Rent 

new york city landlords

New York City landlords are worried. The future looks bleak as nearly 25% of New York City renters have yet to make June rent payments.

The Community Housing Improvement Program represents the owners of 400,000 small rent-stabilized units which equals 3 million units. The group claims nearly a fifth of those surveyed reported rent collections less than 60% of normal.

CHIP is calling for a “massive federally-funded bailout” for renters. They believe this will mitigate the devastating impact of the rent shortfalls.

Read more at MFI-Miami