Do we lose the apartment if our income goes up? (Hope: lease, unemployment)

[simplynaya]

Hey all!
My fiance and I recently lost our jobs a week apart from one another, and while my job moved me to another department from full-time to a part-time position we are only on 1 part-time salary and hoping unemployment kicks in. My question is if we get approved for an apartment with our current income and it's given to us before we get unemployment or another job do we lose the apartment when our income changes? We don't want to take an apartment for 700 now only to lose it Right now we are in a studio paying 900. It's just nerve-racking not to know what to expect.

[macnyc2003]

The short answer is no. Once in a while a person will op up and that they need to requalify annually. But I actually don’t think that’s correct.

[beefpatty]

Originally Posted by macnyc2003

The short answer is no. Once in a while a person will op up and that they need to requalify annually. But I actually don’t think that’s correct.

from my understanding when I signed my lease in September, the only thing they ask me to sign off on annually is my student status. only time my income would be asked for is if I decide to add someone to my lease or I transfer to a different unit.

[NiniCakes]

Originally Posted by simplynaya

Hey all!
My fiance and I recently lost our jobs a week apart from one another, and while my job moved me to another department from full-time to a part-time position we are only on 1 part-time salary and hoping unemployment kicks in. My question is if we get approved for an apartment with our current income and it's given to us before we get unemployment or another job do we lose the apartment when our income changes? We don't want to take an apartment for 700 now only to lose it Right now we are in a studio paying 900. It's just nerve-racking not to know what to expect.

Nope! Once you're in, you're in! Most of these lotteries are rent stabilized which means that whatever the rent guidelines board vote and agree to in terms of rent raises is what will be applied to your lease when it's time to be renewed. You can check to see if the building you're being considered for is rent stabilized, but as far as income goes, they approve you based on what it is now, not what it might be *if* you get unemployment. If you get approved and sign the lease based on your income now, they will not put you out if your income goes up after the fact. Good luck with everything!

[BklynHopeful27]

Originally Posted by beefpatty

from my understanding when I signed my lease in September, the only thing they ask me to sign off on annually is my student status. only time my income would be asked for is if I decide to add someone to my lease or I transfer to a different unit.

When you said, "transfer to a difference unit" does that include wanting bigger space like if you were given a studio because a 1 bd was not available and now one is, you can move in there? or for another particular reason?

[beefpatty]

Originally Posted by BklynHopeful27

When you said, "transfer to a difference unit" does that include wanting bigger space like if you were given a studio because a 1 bd was not available and now one is, you can move in there? or for another particular reason?

yeah you can ask for a larger unit after living in your current unit for at least 2 years. but your latest income would need to match up with the unit's income bracket.