Who Decides how much you pay in rent with a lottery unit? (leasing, calculation)
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I asked her If I could be put on the waitlist for an 100% AMI apartment and she told me and I quote
" Hi Amina. I understand the rent might be a bit high , kindly withdraw your application on housing connect. We wish you all the luck in seeking an apartment, and appreciate your patience during the process. "
I asked her If I could be put on the waitlist for an 100% AMI apartment and she told me and I quote
" Hi Amina. I understand the rent might be a bit high , kindly withdraw your application on housing connect. We wish you all the luck in seeking an apartment, and appreciate your patience during the process. "
Don’t withdraw on the site! Very weird that they would ask you to do that and everything else that’s going on.
I hope she didn’t withdrew her application let it go through the process and see the rent you will pay upon signing your lease at that time if it’s really $2500 then you can back out at that time
Question- For the re-rentals do they not abide by the income brackets and rent amounts on the HC Website? Also, shouldn't the rent be a certain percentage of your income across the board. I may be misunderstanding this process
There's no way the HC rent increased $600 year-over-year. That's a 30% jump! (Thus impossible starting from the original rents with just rent-stabilized increases, meaning not a re-rental.) And more than all but the 130% 3-beds in the listing. Something has gone badly wrong here. Don't withdraw your application. Go through with it. Contact HPD at the same time.
This is supposedly a 100% affordable building. It's unclear whether there were any non-lottery units (351 units in the lottery but I see some mentions of 387 units total), in which case the rent might be income-based in some weird way, but that does not seem typical (I would've thought they'd be former-homeless setasides). Also that should have been explained to you. I can't see anything on the Internet that's relevant.
Don't withdraw!!! Keep your hopes tightly in check, but don't withdraw until you get an explanation. And please keep us up to date. Future applicants will benefit greatly from reading your story someday.
The rent is fixed for any given bracket. E.g., if you earn $30K-$50K, your rent will be $xxx regardless of where you fall in that bracket.
Since these units are rent-stabilized, re-rentals should be based on the original rent + the legal permitted increases. This building only opened in early 2022 (looks like?), so even assuming somehow there have been *two* tenants in that time I don't see how you get above a 10% increase on the base rent, and that's being generous because I'm too damn lazy to do the actual math.
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