Policy Positions
1. Rent-Stabilization Reform:
More than 10,000 rent-stabilized apartments are vacant and unrentable in New York City. The units require mandatory upgrades after being occupied for decades. They also have regulated rents that are insufficient to cover current operating costs or fund the necessary renovations. NYAA is dedicated to working with the government to find a way for these apartments to be renovated and made available for rent in order to provide necessary affordable housing to New Yorkers.
2. Expanding & Improving Vouchers:
Tenant stability benefits the renter, the housing provider, and communities as a whole. Housing affordability is the biggest threat to housing stability. NYAA is a firm believer that the best way to give renters housing stability is through rental vouchers that are simple to access, fully-funded, and available to all who need them. NYAA is a leading advocate in eliminating bureaucratic hurdles and government-created delays that prevent renters from moving into available apartments. We support voucher amounts staying in line with market trends so voucher holders can compete with higher income households for quality housing. Ultimately, we believe a universal voucher system should be created, so all renters have housing stability.
3. Property Tax Reform:
Policy experts, the New York Court of Appeals, and many elected officials agree that New York City’s property tax system is fundamentally unfair and inequitable. Since the 1980’s, the system has been designed to increase taxes rapidly on apartment buildings and condos, while shielding smaller homes from those same increases. The result is that lower-income renters in New York City have borne a significantly higher property tax burden than wealthier homeowners. NYAA believes the property tax system must be reformed so the tax burden is equitably distributed, with everyone paying their fair share.
4. Affordable Housing Insurance Fund:
Insurance premiums are one of the fastest growing expenses for rent-stabilized building owners. In many cases, apartment buildings with no violations and no history of insurance claims are seeing their insurance premiums double. NYAA believes a government-backed insurance fund with reasonable insurance premium prices would be cost-neutral to the government and would advance the state’s mission of preserving affordable housing for working families.
5. Nonpayment Eviction Diversion Program:
Evictions are a last resort but housing court is often the only place where a tenant is able to access rental assistance for arrears. Housing experts, providers, and leading tenant organizations across the country have been implementing eviction diversion programs to great success. The process is simple: If a tenant can’t pay the rent, then they can voluntarily enter a mediation process that keeps them out of housing court and, ideally, allows more government resources to go towards providing direct relief to rent arrears. NYAA’s proposal is modeled off programs currently in cities and states such as Philadelphia, Maryland, Indiana, Hawaii and New Jersey.
6. Commitment to Community Building:
Housing is the lifeblood of New York, a backbone of the economy, and an energizing force for communities. To this end, NYAA is committed to preserving the financial stability of rent-stabilized buildings, which includes educating tenants on government benefits available to them, working with banks and lenders to make sure there is access to capital, and advocating for fair rents that cover operating costs to prevent the deterioration of buildings. A strong housing ecosystem is vital to funding the social safety net provided by the city and the state.
7. Reducing Operating Costs:
Government mandated costs on apartment buildings in New York City continue to grow with little to no subsidy available for owners. NYAA is committed to an open and honest discussion on the costs of providing quality affordable housing, and we believe the rents should always cover operating costs.