Renting a Home in NY Has Become a Nightmare and Super Expensive

Renters in New York can thank COVID-19 and "inflation" for sky-high rent and the many hoops of flame they now have to jump through to rent a place to live! Many people who rent were saved over the past year by the moratorium on rent in New York, but as things go back to "normal" renters who face eviction in their current homes or apartments, will not find a friendly rental market when they try to find a new place (even aside from having an eviction on their record).

According to PBS, the pandemic has skewed the rental landscape, especially in the luxury apartment market,

The pandemic uprooted thousands of people, leaving a glut of luxury apartments available in cities at the same time it undercut the earning potential of renters in the middle class. Due to the economic pressure of eviction moratoriums coupled with illegal housing practices, many are finding few options for safe, affordable housing.

Many people were lured in by deep discounts and other offers at the start of the pandemic, only to now be hit with the reality of their thousands-of-dollars-a-month rent.  According to RentCafe, the average price of a 700-800 square foot apartment in Buffalo is above  $1,000,

The average rent for an apartment in Buffalo is $1,056, a 1% increase compared to the previous year.

Only 49 percent of the homes in Buffalo are available for rent, as RentCafe states that 50 percent are owner-occupied.

New York Lawmakers Hold Hearing About Rent Moratorium

As the rent moratorium here in New York nears the end of its extension on August 31, 2021, New York State lawmakers held a hearing this past Tuesday, August 10, to try to figure out the solution to a very complex problem. Not too long ago, Senator Chuck Schumer, sent a letter to the State Office of Temporary and Disability Assistance demanding it releases funds to renters and landlords in need. According to the New York Post, he said in part,

Thousands and thousands of New York tenants could be deprived of critical rent relief checks if the state doesn’t move more quickly on getting this money out. I am formally asking [the state Office of Temporary and Disability Assistance] to move heaven and earth to fix the mess, pick up the pace and get this federal money out the door before it’s too late for tenants and landlords. The message today is: tenant relief now. No more delay.

According to Pix 11, getting aid into the hands of needy renters has been a debacle and challenge,

Nearly $3 billion in federal funding was earmarked to provide relief for tenants and landlords, but as of July 27, only 55 households had received an average of $14,000, according to state lawmakers.

While there are programs in the state to help renters pay their rents, anyone who has ever dealt with the government or government-assisted organizations knows that red tape and bureaucracy can slow down the best-laid plans. And while renters have their struggles, landlords also have theirs. Regardless of whether rent has been paid to them, they are still responsible for paying the mortgage each month, otherwise facing possible foreclosure by the bank.

New Yorkers Behind on Rent Can Tap Into Assistance Funds through a State-Funded Program

New Yorkers who need assistance can apply for monies from the Emergency Rental Assistance Program,

The New York State Emergency Rental Assistance Program (ERAP) will provide significant economic relief to help low and moderate-income households at risk of experiencing homelessness or housing instability by providing rental arrears, temporary rental assistance and utility arrears assistance.

The program can provide up to 12 months of late rent and three months of future rent. You can apply for help 24-hours a day via the ERAP website.