A collapse in apartment rent collection during the pandemic is forging one of New York’s most unlikely political alliances, the Wall Street Journal reported. The Real Estate Board of New York, the property industry’s main lobbying group, has joined with New York’s Legal Aid Society, a nonprofit association that advocates on behalf of tenant rights. While these two groups are usually antagonists — and they are currently on opposite sides in a federal lawsuit over rent control — the pandemic has created common ground. Too many New York tenants can’t pay rent right now, which is making it harder for landlords to pay back their loans and causing tenant debt to pile up. Both sides want to address the issue with more government action, mostly in the form of streamlined rental assistance. Asking rents for one-bedroom apartments Manhattan have fallen almost 20% over the past year, according to listings website Zumper, after a number of renters fled the city for cheaper accommodations or more space while working from home during COVID-19. Many of those who stayed have fallen behind on their rent payments. A recent survey estimated that New York tenants may now be more than $2 billion in debt to their landlords. The joint industry and tenant lobbying effort includes other housing groups and goes by the name of “Project Parachute.” It was first organized by Enterprise Community Partners, Inc, an affordable housing nonprofit. It has been pressing its case with elected officials, such as state Sen. Brian Kavanagh, the chair of the state Senate’s housing committee.
