Are affordable housing rents negotiable? (apartments, lease, tenants)

[e_D]

With housing lotteries expanding to include middle income tenants and the income-to-rent brackets seeming to scale incorrectly at the higher end, I'm wondering if anyone has experience negotiating their rent for a lottery unit. Has it been done? Can it be done?

[macnyc2003]

I have no firsthand knowledge, but I believe that the rents and the income levels adhere to a strict formula, and I doubt there is wiggle room. Rent stabilization does allow for preferential rents, though, so that might be up to the developer's discretion.

[BugsyPal]

No, do not think so.


Housing and the developer set rates based upon a certain percentage of federal AMI (amount of income) guidelines for a particular area. Generally tenants pay about or no more than thirty percent of income towards housing costs (rent or mortgage). Everything is agreed to beforehand and signed off by the City if for no other reason due to the tax incentives built into the scheme.


Now going forward after a lease is signed could a LL not increase rents by the legal amounts set by the RGB? Suppose as the owner of units they could in theory do so absent any contractual obligation. But cannot see the City mandating owners take increases, only allowing them by a certain amount for the duration.


Most of these apartments are below to well below market rate for a particular area, so don't see any incentive for a LL both initially and or going forward to reduce rent/not take increases.