Asset limit for those already in a housing lottery apartment (low income, lease)

[Stopit123]

Hello,

I’ve seen the asset limits table but was wondering if anyone knows about what will happen if my assets increase past my limit after I’ve been approved for the apartment and have lived there? I checked my lease and it says that I can’t get kicked out if my income increases past the limit but doesn’t mention the assets part.

I understand that this is a rather privileged problem to have and I do fully acknowledge it. I’m thankful every day that I get to pay a lower amount of rent, but would love to stay in my apt until I can save up for a house one day …

[randomperson2]

Once you have the apartment, you have it. You can't be evicted except for the usual reasons.

[7continents]

If you got it through a HC lottery and you get the rent stabilized rider with every lease renewal then your income/assets are never checked again until you permanently leave whether in a vertical or horizontal position

[tlane11]

Originally Posted by 7continents

If you got it through a HC lottery and you get the rent stabilized rider with every lease renewal then your income/assets are never checked again until you permanently leave whether in a vertical or horizontal position

Unless your apartment is also receiving low income housing tax credits (many of the 30-50% AMI units fall into this category) and then you do have to re-certify your income yearly, however, it doesn't matter if your income increases or decreases - it has more to do with the regulatory agreements.