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Just out of curiosity, if I'm unable to get out of my current lease. Could I possibly sublet the apt at HPS. I am under moderate income.
According to HDC, they allow subletting but would need prior approval.
Has anyone signed a lease that stipulates no subletting allowed. This question is specific to moderate/middle income bracket.
I believe you are allowed to sublet at up to 10% more rent then you are paying, according to the lease. But you would definitely need approval for that. The renter must meet all of the requirements as well. I did not see anywhere the penalty for getting out of the current lease, but i doubt there is one as there is such as long waiting list.
They called me in June and my log # is in the 8000's.
1 bed, municipal, mod income
Thanks , BK. I was told they would be reaching my log number (21000 ish) about 2 weeks ago, but was told last week ' there was a small snafu' in getting to the next batch, my batch. I wonder what's going on...getting anxious.
Hey guys....finally have all my documentation in to them and now it's the waiting game while they do all their verification and such.
My personality type is to borrow trouble/worry unnecessarily, so I was hoping to run one thing by you guys before bothering my agent again and possibly giving her too much information...
So they made me count my odd performance gig work as self-employment even though I get W2s. My checks come from 3 major payroll companies. My most recent paystubs for these companies were 7/10, 7/15, and 7/30 when I went in on 7/31. Those checks were for the last dates I worked for those payroll companies in July; I don't work for each payroll company every week. Now since this is self-employment income, wouldn't the proper way to project this income be to take everything I made through July 31 and carry it forward? So like, divide by 7, multiple by 12...? (Or divide by 30 weeks, x52) I'm afraid they will see the last date of 7/10 on the one check and divide by 27 weeks (instead of 30) and multiply by 52. But that sort of projection wouldn't account for the fact that I didn't earn from them in the remaining weeks of July. That method would actually give an inflated rate that doesn't take into account dry periods, and it would project me out of the bracket. Am I just gonna have to let them calculate how they will and then appeal? Or is it worth saying something now about how I think they should fairly calculate it? If you've followed this, you'll see how confusing it is to explain and maybe I should just not say anything? Ha.
I'm guessing that my agent understands this, because she allowed me to project unemployment income (which I do not collect every week either) by dividing the total received so far this year by the number of weeks elapsed. It's the same principle. It would only be different if it was for a regular job that you work consistently, but you only happen to have the paystub from 7/10.
One more question to hit you guys with before I bother my girl again. For a regular part-time job you just started this year...are they supposed to project that income as if you will work a full year, or do they have to account for the part of the year you actually worked? For example, say they average your last six paystubs...do they multiply that by the number of pay periods in a year, or by the number of pay periods YOU WILL HAVE WORKED by the end of 2015? The first way gives you your annual earnings with that company that you haven't worked with for a year yet, and the second gives you your actual earnings in 2015. You can see how the latter way is the only fair way if you spent the first part of the year prior to this job doing something else more lucrative...
Hey all,
Seems I'm in the lottery but the coordinator said the first pass on my numbers puts me at the 2500 1BR/2000 studio. Is it possible to get re-adjusted towards the lower bracket? (IE: 2100 1BR). My annual salary basically has me at the bottom of the 2500 range, which makes it pretty tough to get by once you throw in any other expenses. My bonus pushes me into the middle zone of the 2500 range though, so that may be going against me. Anyone in a similar situation that was able to get into a lower bracket? 60% of my monthly pay is not something I think is smart. Any help would be appreciated.
Full countersigned lease received! While I knew we submitted everything accurately and fit all the criteria, it was very stressful to have such a long delay between initial certification and a finalized lease. I can finally relax and start planning for the move! We cannot wait
Full countersigned lease received! While I knew we submitted everything accurately and fit all the criteria, it was very stressful to have such a long delay between initial certification and a finalized lease. I can finally relax and start planning for the move! We cannot wait
Congratulations, that's wonderful! You must be tremendously relieved.
Make sure to keep us posted on the move-in process, and how you like your apartment once you get there.
Full countersigned lease received! While I knew we submitted everything accurately and fit all the criteria, it was very stressful to have such a long delay between initial certification and a finalized lease. I can finally relax and start planning for the move! We cannot wait
Yay congrats!!! I prob sign sometime next week. How long did it take from the initial to the final lease? I thought I was going to be able to relax after I sign it but I guess not lol do you know what can go wrong?
Yay congrats!!! I prob sign sometime next week. How long did it take from the initial to the final lease? I thought I was going to be able to relax after I sign it but I guess not lol do you know what can go wrong?
Thanks, everyone!
We originally singed our lease at the beginning of April, but Related does not countersign a lease that far out because they need you to re-verify your income closer to the lease start date. So for us it was a five month waiting period before we finalized the process and received the countersigned lease. That made it very stressful - terminating our current lease and preparing for a move that was not "technically" guaranteed.
I'm sure the process is different for people that move in closer to when they initially sign. Just keep an eye on your finances and know exactly where you are in your qualification bracket. We presented every financial document we have very clearly and in full from the very beginning and that definitely made the process much smoother.
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