Harlem River Point South (apartment lottery) (leasing, house, luxury)
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Who on here has been to an official interview for Harlem Point South besides Tanya, who needs a 2 or 3 bedroom?
Quote:
Originally Posted by BellaLove
yay!! congrats
tell everyone more about the process if u dont mind.. i'm sure ppl wanna know.
I took all the necessary paper work that was asked. I live with my aunt in a room so I needed a letter from her stating how much i pay her etc i dont lease so i didnt need a lease and i dont have my own utility bills so i didnt need those either. I took my bank statements my tax returns for 2011 and 2012 and a cell phone bill along with 6 pay stubs. the only thing i needed was the letter from my aunt notarized and the employment verification. after i submitted those the week after on 1/8/14 it was a wait game until i received a call on 1/20/14 that she needed proof that i had paid my cell phone bill and proof that i had the money for a deposit. she said my bank account didnt show enough money so i needed to deposit 2 thousand dollars to show that i had the funds in order to pay for the fees and first and lasts months rent. the next day i sent her proof of cell phone payment and the updated bank account with the money deposited. she is meeting with the owners tomorrow 1/23/14 to review my file and she will call me after. she sounds optimistic about my chances so i hope i get it!
My interview was Jan 3rd and I havent been put on the wait list. I have been approved by the city and my file will be reviewed by the owners tomorrow. so far everything has been going well. I am in constant communication with my interviewer and I am eligible for a 1 or 2 bedroom. She will call me after the meeting with the owners. So i am very hopeful!
I got called for a interview in November. my credit background check was good so was my paper work she said she would get back to me with any questions or concerns but she hasn't I was wondering if this happened to anyone else that is suppose to live in this building?
That is not true. I contribute more money now where I am than the rent that is being charged for affordable housing and I am not living check to check. If I was to get an apartment through affordable, it would be cheaper. I would actually be paying 1/3 (as you stated) of my income not 50%. I guess it depends on where a persons salary falls in the income brackets provided.
Enjoy your time over there but 1/3 is mathematically impossible, on paper at least
For 1 bedroom in a 1 person household ($844 for rent):
a) $30,926 (minimum) is approximately $1,674 (give or take) monthly and 1/3 of that is $558.
b) $36,120 (maximum) is approximately $1,956 (give or take) monthly and 1/3 of that is $652.
That's 50% and 43% of your income, respectively
The studio ($785 for rent) is not that much different, 46% and 40% of income for the minimum and maximum respectively.
I can't speak for the lower income levels because they're not in my tax bracket but a quick look at it, common sense tells you that if people in your income range should be paying $558-$652 (1/3 of your income), how is it that people earning $10,000-12,000 less are paying $533??
I maintain that you are paying for the lifestyle of living independently in New York City, not for building a future unless you are making money off the books and sacrificing cable and internet which I am not. I say that with confidence because as your income goes up so does your rent in these apartments... Accordingly.
Enjoy your time over there but 1/3 is mathematically impossible, on paper at least
For 1 bedroom in a 1 person household ($844 for rent):
a) $30,926 (minimum) is approximately $1,674 (give or take) monthly and 1/3 of that is $558.
b) $36,120 (maximum) is approximately $1,956 (give or take) monthly and 1/3 of that is $652.
That's 50% and 43% of your income, respectively
The studio ($785 for rent) is not that much different, 46% and 40% of income for the minimum and maximum respectively.
I can't speak for the lower income levels because they're not in my tax bracket but a quick look at it, common sense tells you that if people in your income range should be paying $558-$652 (1/3 of your income), how is it that people earning $10,000-12,000 less are paying $533??
I maintain that you are paying for the lifestyle of living independently in New York City, not for building a future unless you are making money off the books and sacrificing cable and internet which I am not. I say that with confidence because as your income goes up so does your rent in these apartments... Accordingly.
I am in the 40 percentile tax bracket smarty pants (according to my interviewer)! The rent would be $533 or $648 .That is for folks whose income ranges from 20,263-27,520 (rent would be $533) or $648 (24,275-27520). What chart are you referring to? I fall alittle over 27,000. So please tell me how that's 50 percent of my income?? Better yet, do not respond --have several seats hun. Not into cpu thugging. DO THE MATH. 533x12=6396 NOT 50 PERCENT OF 27000. 648X12=7776. AGAIN NOT 50 PERCENT OF 27000. HAVE SEVERAL SEATS PLEASE.
THAT'S WHY I SAID IT DEPENDS ON WHERE YOUR INCOME FALLS IN THE CHART PROVIDED.
Building for the future--- That is what a 401k plan is for! (Which is what I've had since I was 18, I am now 28). Do the math ON MY FUTURE! Thanks.
Last edited by Tanya Washington; 01-23-2014 at 10:17 AM..
Enjoy your time over there but 1/3 is mathematically impossible, on paper at least
For 1 bedroom in a 1 person household ($844 for rent):
a) $30,926 (minimum) is approximately $1,674 (give or take) monthly and 1/3 of that is $558.
b) $36,120 (maximum) is approximately $1,956 (give or take) monthly and 1/3 of that is $652.
That's 50% and 43% of your income, respectively
The studio ($785 for rent) is not that much different, 46% and 40% of income for the minimum and maximum respectively.
I can't speak for the lower income levels because they're not in my tax bracket but a quick look at it, common sense tells you that if people in your income range should be paying $558-$652 (1/3 of your income), how is it that people earning $10,000-12,000 less are paying $533??
I maintain that you are paying for the lifestyle of living independently in New York City, not for building a future unless you are making money off the books and sacrificing cable and internet which I am not. I say that with confidence because as your income goes up so does your rent in these apartments... Accordingly.
rents for these affordable apartments are calculated at 2.5% of the annual income limits they set, rents are not set based on income broken down monthly. your calculations are only valid if they broke down income by month, which they do not. they DO NOT take annual income, break it down monthly and then set rents based on 1/3 of that figure. no one does. if they did, everyone could afford rent everywhere and affordable housing wouldn't be necessary.
i'm not sure what math you used for your calculations, but 30,926 is not 1,674 monthly. I divided 30,926 by 12, because there are 12 months in a year. before taxes its 2,577 and after deducting 20% taxes (30,926*.20) its 2,061. Obviously taxes are calculated differently for everyone at different levels, but 20% is a general figure for those making less than 40k. Rents are set using PRETAX income, meaning: 30,296*.025(2.5%) = 757. in this same tier, the max income for a 1 bedroom is 36,120, so that times 2.5% is 903. Being that they are setting rent for the entire income range, they choose a median figure, 757+903=1660/2 = 830. The rent they've set for this range is 844 - so they added $14, go figure. BECAUSE RENTS ARE SET USING PRETAX INCOME, by your theory of 1/3 of your income being designated for rent; 2,577/3, or 2,577*0.33 both equal about 859 AND since numbers don't lie and math is the same in the entire universe, 30,926 (yearly salary)/3 (one third income) = 10,308 (yearly to spend on rent) /12 (months in a year, since rent is paid monthly) = .... (wait for it..) 859!
furthermore, this affordable program was not set up to help anyone do anything more than attain housing in NYC, preferably in their current neighborhoods - this is why community board members get preference for 50% of the units. the program was not created to help anyone balance their finances, become rich or financially stable even. The program offers individuals making less than 60% of the AMI affordable housing in desirable areas. Nowhere in the fine print does it say "pay rent less than market rate and save lots of money doing so" if the purpose of the program was for people to save money the rent would be 500 for people making 80k. How people spend their money is up to them. It is not at all difficult to save and budget. I am currently saving what I anticipate my rent to be when I move. Additionally, I have set a financial plan for myself for the next few months, broken down by week, because I am paid weekly. With my plan, I am able to pay all of my bills (cable, ConEd, phone, student loan, metro card) pay my rent, buy groceries for the month, have spending money and still save a little. i dont have a side job, not a bartender, not earning money off the books, not a drug dealer or a con artist, i dont drum on buckets in a park or panhandle. i just set a plan & stick to it.
rents for these affordable apartments are calculated at 2.5% of the annual income limits they set, rents are not set based on income broken down monthly. your calculations are only valid if they broke down income by month, which they do not. they DO NOT take annual income, break it down monthly and then set rents based on 1/3 of that figure. no one does. if they did, everyone could afford rent everywhere and affordable housing wouldn't be necessary.
i'm not sure what math you used for your calculations, but 30,926 is not 1,674 monthly. I divided 30,926 by 12, because there are 12 months in a year. before taxes its 2,577 and after deducting 20% taxes (30,926*.20) its 2,061. Obviously taxes are calculated differently for everyone at different levels, but 20% is a general figure for those making less than 40k. Rents are set using PRETAX income, meaning: 30,296*.025(2.5%) = 757. in this same tier, the max income for a 1 bedroom is 36,120, so that times 2.5% is 903. Being that they are setting rent for the entire income range, they choose a median figure, 757+903=1660/2 = 830. The rent they've set for this range is 844 - so they added $14, go figure. BECAUSE RENTS ARE SET USING PRETAX INCOME, by your theory of 1/3 of your income being designated for rent; 2,577/3, or 2,577*0.33 both equal about 859 AND since numbers don't lie and math is the same in the entire universe, 30,926 (yearly salary)/3 (one third income) = 10,308 (yearly to spend on rent) /12 (months in a year, since rent is paid monthly) = .... (wait for it..) 859!
furthermore, this affordable program was not set up to help anyone do anything more than attain housing in NYC, preferably in their current neighborhoods - this is why community board members get preference for 50% of the units. the program was not created to help anyone balance their finances, become rich or financially stable even. The program offers individuals making less than 60% of the AMI affordable housing in desirable areas. Nowhere in the fine print does it say "pay rent less than market rate and save lots of money doing so" if the purpose of the program was for people to save money the rent would be 500 for people making 80k. How people spend their money is up to them. It is not at all difficult to save and budget. I am currently saving what I anticipate my rent to be when I move. Additionally, I have set a financial plan for myself for the next few months, broken down by week, because I am paid weekly. With my plan, I am able to pay all of my bills (cable, ConEd, phone, student loan, metro card) pay my rent, buy groceries for the month, have spending money and still save a little. i dont have a side job, not a bartender, not earning money off the books, not a drug dealer or a con artist, i dont drum on buckets in a park or panhandle. i just set a plan & stick to it.
LMAOOO @ WAIT FOR IT! I DIED 3 TIMES!
You have truly made my day! I am at my desk cracking up. I am still trying to figure out this individuals calculations because I was beyond confused.
[quote=BellaLove;33145441]lolol ppl are so corny!! they had to be set straight like dude where's your calculator?! [/QUOTE
Hahahahha...I was pretty much done after I saw his/her absurd calculations. I swear I had the most stupid look on my face----like did I miss something?! Clearly this person needs to ease up off the crack pipe.
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