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Affordable Housing

Affordable housing development must seek a better balance between market rate and affordable housing. Pioneers who have built our neighborhoods must not be forced to leave because they are victims of their own success, their housing should remain affordable so that they may realize the fruits of their labor.

As former Chief of Staff for Mitchell-Lama Subcommittee Chair, Assemblyman Jonathan L. Bing, I know the current issues facing affordable housing. I had the opportunity to work on the next generation of progressive legislation that would scale certain rent regulations to the consumer price index, so that new laws are always current and housing remains affordable for generations to come. But there is more to do and as your City Council member I will continue this work by reforming rent regulation, using market indices like the consumer price index, and expanding affordable housing.

In addition to fixing affordable housing and rent regulation laws, we must also create a centralized affordable housing resource. Affordable housing must be transparent, with easily accessible and searchable lists by address and qualification, rather than having to search through over a dozen different programs and agencies. We must open affordable housing by creating an easy centralized application process. Lastly, the waiting lists for all affordable housing must be publicly available to provide accountability where these waiting lists have been previously abused.

Testimony before the Rent Guidelines Board

This year, I am calling on the Rent Guidelines Board to vote for a rent rollback. Our tenants have endured an undue rent burden, with high increases year after year. Meanwhile, income cannot keep pace and only crept up by 2.3% between 2005 and 2013 in real terms.

Last year, the Board voted for a historic low 1% increase for one-year leases and 2.75% for two-year leases—but that did not correct for the disproportionately high increases of previous years.

The approved rent increases each year have largely been based upon the landlord’s operating costs, measured by the price index of operating cost (PIOC). This practice not only fails to consider tenants, but has also proven to be inaccurate: based upon data from the DOF, the PIOC has overstated landlord costs by 11% since 2005. This miscalculation led to unfairly high rent increases in past years, which must be corrected with a rent rollback.

Those increases have come with consequences. A unit is considered affordable if the rent is no higher than 30% of their household income. The median rent-to-income ratio of tenants in rent stabilized apartment is 36.4%. By this standard, a majority of rent-stabilized tenants have units that are not affordable. The stress of financial insecurity takes a toll on New Yorkers every day.

A rent rollback is also economically feasible for landlords. Even by the slanted standards of the PIOC, operating costs only increased by a mere .5% this year. We have an opportunity to correct for years of high rent increases and subsequent burden on tenants, without greatly burdening landlords. After so many years of only considering landlord costs, it is time to consider the needs of our tenants. This is a city of renters, but we will only remain one if we vigorously protect the affordable housing we already have. Please join us by voting for a rent rollback this year. 

Testimony before the Rent Guidelines Board

This year, I am calling on the Rent Guidelines Board to vote for a rent rollback. Our tenants have endured an undue rent burden, with high increases year after year. Meanwhile, income cannot keep pace and only crept up by 2.3% between 2005 and 2013 in real terms.

Last year, the Board voted for a historic low 1% increase for one-year leases and 2.75% for two-year leases—but that did not correct for the disproportionately high increases of previous years.

The approved rent increases each year have largely been based upon the landlord’s operating costs, measured by the price index of operating cost (PIOC). This practice not only fails to consider tenants, but has also proven to be inaccurate: based upon data from the DOF, the PIOC has overstated landlord costs by 11% since 2005. This miscalculation led to unfairly high rent increases in past years, which must be corrected with a rent rollback.

Those increases have come with consequences. A unit is considered affordable if the rent is no higher than 30% of their household income. The median rent-to-income ratio of tenants in rent stabilized apartment is 36.4%. By this standard, a majority of rent-stabilized tenants have units that are not affordable. The stress of financial insecurity takes a toll on New Yorkers every day.

A rent rollback is also economically feasible for landlords. Even by the slanted standards of the PIOC, operating costs only increased by a mere .5% this year. We have an opportunity to correct for years of high rent increases and subsequent burden on tenants, without greatly burdening landlords. After so many years of only considering landlord costs, it is time to consider the needs of our tenants. This is a city of renters, but we will only remain one if we vigorously protect the affordable housing we already have. Please join us by voting for a rent rollback this year.