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Old 07-24-2017, 11:24 AM
 
116 posts, read 115,266 times
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Does anyone know the outcome and/or experienced what happens when after moving into a lottery apartment your income decreases? For instance, say when you moved in you were making 100% of the AMI at 55K, but suddenly lost your job and your new job is 80% of the AMI at 45K?

Does the management try to make adjustments and/or attempt to work with you? Or are you just expected to suddenly move out?

Any insight would be greatly appreciated.
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Old 07-24-2017, 11:26 AM
 
Location: New York, NY
2,456 posts, read 1,808,206 times
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Quote:
Originally Posted by astoldby View Post
Does anyone know the outcome and/or experienced what happens when after moving into a lottery apartment your income decreases? For instance, say when you moved in you were making 100% of the AMI at 55K, but suddenly lost your job and your new job is 80% of the AMI at 45K?

Does the management try to make adjustments and/or attempt to work with you? Or are you just expected to suddenly move out?

Any insight would be greatly appreciated.
Nope! No accommodations whatsoever. Just as if you get a raise or win the lottery they don't care as long as you pay the rent. If you can't come up with the rent you're outta there. It's different with NYCHA where they would make the adjustment.
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Old 07-24-2017, 11:59 AM
 
Location: Eric Forman's basement
1,688 posts, read 1,660,619 times
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If it were me and my income decreased, I would do anything humanly possible to pay my rent and hold on to the lottery apartment, including trying to find a roommate, getting a second job, etc.

I would definitely not move out. These apartments are so scarce and so hard to qualify for, I would hate to see anyone not being able to pay the rent and forfeiting it. Although it does happen, I'm sure.
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Old 07-24-2017, 12:02 PM
 
2,187 posts, read 1,533,535 times
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Quote:
Originally Posted by astoldby View Post
Does anyone know the outcome and/or experienced what happens when after moving into a lottery apartment your income decreases? For instance, say when you moved in you were making 100% of the AMI at 55K, but suddenly lost your job and your new job is 80% of the AMI at 45K?

Does the management try to make adjustments and/or attempt to work with you? Or are you just expected to suddenly move out?

Any insight would be greatly appreciated.
Unfortunately, no, the management won't make any adjustment for you. You have to pay your rent on time, or else you will get evicted if you don't move out by yourself(assuming that you cannot keep up with the rent).
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Old 07-24-2017, 01:10 PM
 
116 posts, read 115,266 times
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Hmmm, the consensus seems to be the same as I imagined. It sucks they don't offer any kind of accommodations. I have a really good opportunity to take a position at a reputable company where I could grow substantially, but its less than what I currently make.

At this point, I think I am willing to take a minor step down financially and move elsewhere, rather than stay at a job I hate (that is going nowhere anyway with all the layoffs) just so I can afford rent in a building I'm already not crazy about.
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Old 07-24-2017, 02:54 PM
 
18,242 posts, read 11,653,926 times
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Quote:
Originally Posted by astoldby View Post
Hmmm, the consensus seems to be the same as I imagined. It sucks they don't offer any kind of accommodations. I have a really good opportunity to take a position at a reputable company where I could grow substantially, but its less than what I currently make.

At this point, I think I am willing to take a minor step down financially and move elsewhere, rather than stay at a job I hate (that is going nowhere anyway with all the layoffs) just so I can afford rent in a building I'm already not crazy about.

Outside of public and perhaps some other subsidized housing landlords are not obligated nor usually do adjust rent based upon income. The rent is what it is , and if you cannot pay then you'll have to move. Even rent stabilized or controlled tenants do not see their rents adjusted based upon income. Only worry there is luxury decontrol.


City holds developers/landlords feet to the fire in terms of "affordable" housing lotteries to ensure someone earning $5k per year doesn't snap up a rental for $1k per month. Which could happen in a totally free market rental. As noted once someone qualifies they are not removed for earning substantially more than initial income, until or unless luxury decontrol levels are reached, and am not even sure it happens then.


There are scores if not hundreds of "rent burdened" tenants in New York City who would love to have their rents "adjusted" based upon income. However outside of specific instances enshrined in law (rent over charges and so forth), courts nor government agencies have no authority to decrease rents.


All this being said you simply could do what many, many other New Yorkers do; get a side hustle or whatever to help cover income shortfalls and make rent. Hopefully your new position will work out well and you'll be back to earning former income (or more), thus making the whole debate moot.
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