NYC Renters Up For 'First-Come, First-Serve' $2.7B Rent Relief

NEW YORK CITY — A massive, $2.7 billion pot of rent relief soon will be available for struggling tenants in New York City and across the state.

The catch: only 200,000 renters will get the funds and they need to apply starting June 1.

Gov. Andrew Cuomo on Wednesday encouraged New Yorkers to still readying their applications as soon as possible.

"They are on a first-come, first-serve basis," he said.

"Because it is first-come, first-serve, if you don't in an application then don't complain if the application isn't granted," he said.

The relief is largely made up of federal stimulus funds that aimed at helping the economy move past the coronavirus pandemic.

Altogether, New York is putting up a combined $3.5 billion in assistance for renters and small business owners who experienced hardship during the pandemic.

Renters who behind on their rent and have experienced financial hardship, are at risk of homelessness or housing instability and that earn at or below 80 percent of area median income are eligible for the relief.

The program for the first 30 days will prioritize renters who are unemployed, with income at or below 50 percent of area median income or are part of other vulnerable populations, officials said. After those 30 days, applications will be still be processed on a continued first-come, first-serve basis as long as funds remain, according to the state.

Applicants and landlords can visit otda.ny.gov/erap for more information.