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Can anyone explain what exactly the waiting list means? Are they just calling people for apsrtments that open up based on their number? Or is there a set amount of apartments already open for low log numbers?
This is an established complex, with all apartments occupied, one would assume.
I don't think there would be a bunch of apartments vacant, because the co-op would lose money if the monthly fees aren't being paid by anyone.
So a wait list is merely people who will be called, in order, when apartments of the correct size open up.
It's good to get on these Mitchell Lama lists, but you could be waiting for years—or decades even. A strategy would be to get on as many lists as you can and hope that you get a low number.
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Originally Posted by mjg713
Can anyone explain what exactly the waiting list means? Are they just calling people for apsrtments that open up based on their number? Or is there a set amount of apartments already open for low log numbers?
Waiting list means different things in different lotteries. In the case of Village East Towers it’s a long existing Mitchell-Lama co-op. It can be assumed that under normal circumstances, any wait list is for vacancies if and when the occur. Mitchell-Lama buildings tend to be excellent values so turnover of units is slow. There could be people living there still who were the first residents in their unit. Applicants wait years for a vacancy, more years if it’s a rare unit type such as a three bedroom.
The lottery for this Village East Towers waiting list could be for a list to succeed a list they are working from now.
My guess is Village East Towers anticipates exhausting an existing list and vacancies to occur in the future.
For new construction buildings, all the units are vacant. So the lottery is for a group of units in the lottery. A building might be all lottery units or just a required portion of units.
Mitchell-Lama lotteries in recent years seem to draw a maximum number of log#s for each unit type. This is sensible in my opinion.
Some Mitchell-Lama let applicants go on Hold and/or pass on unit when it’s is offered. In the case of a co-op an applicant might need time to raise funds or get financed. Typically, there is limit doing this.
Still showing "Tenant Selection in Progress" for the 1 bed. Wonder why someone has "Not Selected" already for the 1-bed while some of us are still waiting for our verdicts...!
Still showing "Tenant Selection in Progress" for the 1 bed. Wonder why someone has "Not Selected" already for the 1-bed while some of us are still waiting for our verdicts...!
Still showing "Tenant Selection in Progress" for the 1 bed. Wonder why someone has "Not Selected" already for the 1-bed while some of us are still waiting for our verdicts...!
It's possible I looked at a previous entry on the list, because I'm not seeing it now. I'm sorry for posting misleading info!
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