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Animalex- I moved in 2 months ago, they asked for the last 2 years of tax transcripts and bank account info(never said what they were looking for as far as money in the bank), and W-2s.
Hi mm18 - I moved into a 2.5-rm studio in 2016 and my carrying charges are still about $450/mo. $600 seems like an unusually large jump, but I'm not familiar with how increases are determined, so it may in fact be the current price for new cooperators.
Note that some of the larger studios (including those with large balconies/terraces) are treated as 3.5-rm units, which may explain the higher carrying charge and income requirement you were quoted. You might want to double check on that with the management office and see if (a) the units you saw were 2.5 or 3.5 rooms and (b) if you were shown a 3.5-rim unit, you can choose to only see 2- and 2.5-rm units going forward, which might have a lower required income.
When I moved in they only asked to see my tax returns, not other sources of income. I don't know if you can voluntarily submit evidence of other sources of cash flow.
Hope this helps, and good luck.
Thanks for the info Incog79. I haven't heard from the office after my last viewing yet, but I reviewed the paper they gave me and it said "2.5rm studio with balcony (3rms)"....so I guess they counted the balcony as 0.5 rm?? Do you by any chance have a balcony? That might explains the carry charge difference.
I do have other sources of income which I received in cash. Not sure if they will consider that.
But fingers crossed.
Thanks for the info Incog79. I haven't heard from the office after my last viewing yet, but I reviewed the paper they gave me and it said "2.5rm studio with balcony (3rms)"....so I guess they counted the balcony as 0.5 rm?? Do you by any chance have a balcony? That might explains the carry charge difference.
I do have other sources of income which I received in cash. Not sure if they will consider that.
But fingers crossed.
Thanks again
mm18
Mine does not have a balcony, so it is a true 2.5-rm studio. If you saw a 3-rm unit, that along with a $20/mo per room increase would explain the higher carrying charge. With that $20/mo increase, my monthly charge would be ~$500/mo and I think the income floor for my apt would be ~$24K. Yes, I hope they consider that extra income and/or let you limit yourself to viewing 2 and 2.5-rm units!
This is the first lottery where I’ve been selected. Submitted pre-approval paperwork around 8-9 weeks ago. Interviewed 6 weeks ago. Today I was told I’ve been approved!
Today I was told that I will need to come in for another appointment to sign “affidavits and final documentation”. Does this mean HPD has already approved my file? Is it smooth sailing from here?
I’m so excited but so anxious too. My current lease doesn’t end until April ‘19. Hopefully I can sort that out as well.
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