Fact Check: Approximately 15% of rent stabilized renters in New York have fallen behind on payments.

Fact Check: "Approximately 15% of rent stabilized renters in New York have fallen behind on payments."

What We Know

The claim that "approximately 15% of rent stabilized renters in New York have fallen behind on payments" lacks direct verification from reliable sources. However, some relevant data can be gleaned from various reports. For instance, a report from the New York City Housing and Vacancy Survey indicates that non-payment filings for rent stabilized tenants fell by 11.7%, suggesting a decrease in the number of tenants unable to pay rent. Additionally, the same survey reported a median gross rent-to-income ratio of 28.8%, which may imply that a significant portion of renters are managing their payments relative to their income.

Moreover, a report by the New York Post highlights that many landlords are struggling financially, with some facing foreclosure on their properties, which could indirectly suggest that tenants are also facing difficulties in meeting rent obligations (New York Post). However, this does not provide a clear percentage of renters who are behind on payments.

Analysis

The claim's validity hinges on the interpretation of data regarding rent payments among stabilized renters. The assertion of 15% appears to be an estimate rather than a figure derived from a specific study or survey. The New York State Attorney General's report discusses changes in rent laws and protections for tenants but does not provide concrete statistics on payment defaults.

The New York Times article discusses the financial struggles of landlords, which may reflect broader economic challenges affecting tenants, but again, it does not quantify the percentage of renters falling behind on payments. The data from the NYC Housing and Vacancy Survey does not confirm the 15% figure but indicates a decrease in non-payment filings, suggesting that fewer tenants are falling behind compared to previous periods.

The sources referenced vary in reliability; while the NYC Housing and Vacancy Survey is a credible source of data, the claim itself lacks a direct citation from a reputable study or report that confirms the 15% figure. Therefore, the evidence does not robustly support the claim.

Conclusion

The claim that "approximately 15% of rent stabilized renters in New York have fallen behind on payments" is Unverified. While there are indications of financial stress among both renters and landlords, the specific percentage cited lacks direct support from reliable data. The available information suggests a more complex situation where fewer tenants may be falling behind compared to previous years, but it does not substantiate the exact figure of 15%.

Fact Check: Approximately 15% of rent stabilized renters in New York have fallen behind on payments.