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Old 12-16-2021, 08:58 AM
 
Location: New York, NY
827 posts, read 745,447 times
Reputation: 282

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Apologies if this question has been asked and answered before.

Spouse and I have a combined income of $75,000-$80,000 depending on overtime, etc. We have two kids in college (total family size - 4) who each earned between $4k and $5k this past summer. Do I need to add this income in to my total family income, even though this is their money and is strictly used to support their college costs? This income would put us closer to $90k and might exclude us from some apartments.

Thanks!
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Old 12-16-2021, 09:25 AM
 
Location: Eric Forman's basement
4,753 posts, read 6,491,274 times
Reputation: 1972
I honestly don't know, but here's the Marketing Handbook section on income earned for less than one year. Maybe you will understand it better than I do!

https://www1.nyc.gov/assets/hpd/down...dbook-8-21.pdf
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Old 12-16-2021, 09:27 AM
 
Location: Stuytown
239 posts, read 318,072 times
Reputation: 63
Quote:
Originally Posted by BPC1999 View Post
Apologies if this question has been asked and answered before.

Spouse and I have a combined income of $75,000-$80,000 depending on overtime, etc. We have two kids in college (total family size - 4) who each earned between $4k and $5k this past summer. Do I need to add this income in to my total family income, even though this is their money and is strictly used to support their college costs? This income would put us closer to $90k and might exclude us from some apartments.

Thanks!
I did not put my student's info on the initial application for Stuytown as, it was submitted before last Summer
when he worked. I also did not list it as income when I had to submit documents but, it would not have pushed me over the threshold so, I am not sure how it would work on a regular HPD application. On the Stuytown app we had to all sign a Student Affidavit that indicated each potential resident student status so, they probably realize the students income is not significant enough to alter the family income but, it may be different in other lotteries.
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Old 12-16-2021, 11:50 AM
 
Location: New York, NY
827 posts, read 745,447 times
Reputation: 282
Thanks all!
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