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Old 02-07-2017, 10:56 AM
 
186 posts, read 264,154 times
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So I'm curious how rent stabilization works for people who are awarded an apartment through Housing Connect / Housing Lottery. Is it basically that your rent goes up 0-2% or so before you renew your lease?

Also, how does an increase in salary impact it?

Sorry, these are basic questions but I'm new to the world of rent stabilization, specifically for the new Pacific Park lotteries.

Anybody out there have any experience with this?
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Old 02-07-2017, 11:13 AM
 
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My understanding is that they are entered into the rent stabilization system and go up by the same amount as all other rent stabilized apartments, that is, the amount set by the Rent Guidelines Board: NYC Rent Guidelines Board

Salary increase shouldn't impact it.
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Old 02-07-2017, 11:23 AM
 
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Quote:
Originally Posted by wiivile View Post
My understanding is that they are entered into the rent stabilization system and go up by the same amount as all other rent stabilized apartments, that is, the amount set by the Rent Guidelines Board: NYC Rent Guidelines Board

Salary increase shouldn't impact it.
Ok great, thanks! I'll take a look at this link.
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Old 02-07-2017, 11:38 AM
 
Location: Bronx, NY
274 posts, read 485,228 times
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Salary doesn't impact your rent increase. Forgot the calculations that are used but my rent went up $50 when I renewed my 2 year lease. They did not request any updated info on my income.
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Old 02-07-2017, 12:24 PM
 
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Quote:
Originally Posted by larthur706 View Post
Salary doesn't impact your rent increase. Forgot the calculations that are used but my rent went up $50 when I renewed my 2 year lease. They did not request any updated info on my income.
Thanks for the response. I thought this was the case but I wanted to make sure. Were you awarded an apartment in Manhattan? Just curious, I was approved for 461 Dean.
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Old 02-07-2017, 12:49 PM
 
Location: Bronx, NY
274 posts, read 485,228 times
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I moved into my lottery apt in The Bronx 5-6 years ago but was just awarded a larger apt (also in The Bronx) a few days ago. Congrats on your apartment!!! I'm sure you're excited!!!
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Old 02-07-2017, 01:10 PM
 
186 posts, read 264,154 times
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Quote:
Originally Posted by larthur706 View Post
I moved into my lottery apt in The Bronx 5-6 years ago but was just awarded a larger apt (also in The Bronx) a few days ago. Congrats on your apartment!!! I'm sure you're excited!!!
Congratulations to you too! That's great. Yeah, I'm totally excited. Still in disbelief since about 90,000 people applied for this one. Just signed my lease last week! It's really nice to know these lotteries work.
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Old 02-07-2017, 01:19 PM
 
3,951 posts, read 5,074,907 times
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Originally Posted by ComaLiving View Post
Congratulations to you too! That's great. Yeah, I'm totally excited. Still in disbelief since about 90,000 people applied for this one. Just signed my lease last week! It's really nice to know these lotteries work.
Well, they'd work for 100 out of the 90,000 people.

That's a 1 in 9,000 odds.

Essentially, not particularly great.
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Old 02-07-2017, 01:34 PM
 
186 posts, read 264,154 times
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Quote:
Originally Posted by WithDisp View Post
Well, they'd work for 100 out of the 90,000 people.

That's a 1 in 9,000 odds.

Essentially, not particularly great.
I guess I meant it works as far as long-shot lotteries can work.

Last edited by ComaLiving; 02-07-2017 at 03:01 PM..
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