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i could live on 32k a year if i give up our health insurance and housing costs . i think those two are about 32k a year .
one good thing about living in nyc or the boroughs is 1/2 the entire housing stock for millions of people are rent stabilized .
it is not widely known but if you are stabilized and 62 or over and have less than a 50k taxible household income and your rent represents 1/3 of your income you are exempt from future rent increases .
the landlord gets a tax abatement for the difference in rent increases that they can't pass on . that is one incredible perk if you live here and qualify .
I am living that life you describe in the highlighted paragraph. Every year my rent goes up. The government has determined that my landlord can increase it. It's usually by $5 extra. But my income has not gone up at all. I am not the only one, all of us here in this senior income-based complex all receive the letter every fall.
it is not widely known but if you are stabilized and 62 or over and have less than a 50k taxible household income and your rent represents 1/3 of your income you are exempt from future rent increases .
Is this related to your state only? I'm in affordable housing, I'm over 62, I have much less than 50k income and my rent starting in November (when current lease expires) will increase by $27 per month. This is a 5% increase that was put through by our government.
I'm now wondering how many people here would have said no if the question was $50,000 a year or even $100,000 a year if it meant sitting in the back of a concert with the poor people, LOL.
Many would have, especially if during their working years they were use to sitting up front. Why plan on taking a back seat during your leisure years? That's the time to have best view of the many good things our world has to offer and experience.
Is this related to your state only? I'm in affordable housing, I'm over 62, I have much less than 50k income and my rent starting in November (when current lease expires) will increase by $27 per month. This is a 5% increase that was put through by our government.
it apply's to nyc's stock of rent stabilized housing ,which represents about 1/2 the available rentals in manhattan and the boroughs .
i could live on 32k a year if i give up our health insurance and housing costs . i think those two are about 32k a year .
one good thing about living in nyc or the boroughs is 1/2 the entire housing stock for millions of people are rent stabilized .
it is not widely known but if you are stabilized and 62 or over and have less than a 50k taxible household income and your rent represents 1/3 of your income you are exempt from future rent increases .
the landlord gets a tax abatement for the difference in rent increases that they can't pass on . that is one incredible perk if you live here and qualify .
interesting, but don't you have more than 50K in income from your portfolio?
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