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Way faster and more professional than any of the affordable lotteries. I seem to remember going from submitting docs--which I only had to do once--to approval and viewing an apartment in less than two weeks. May have been even less than that.
Last year (2017) I made just under a hair below the lower income threshold. This year (2018) I am firmly in the income band and next year will be too. The problem is I am self-employed.
The woman on the phone said that I would need to when called show two years of tax returns. If my 2017 + 2018 average comes out to too low (and it will), she said they will accept an income projection for 2019. What do you know about an income projection form? They said I can self-certify it. I've been looking for them online for maybe a template to follow but they seem to all be from businesses, not individuals. I am actually hiring myself as an employee this year because I am incorporating, so my income this upcoming year (2019) will be nice and easy to understand and on a w-2.
Also, how intrusive are they into your banking details? Do they want to know all accounts (I have a bank account in Italy with less than $1,000 in it just for incidentals when I am in Italy as I visit often) and all deposits/payments? Or just the balances?
I'm afraid I don't have any personal experience with the lottery and self-employment.
IIRC, they requested bank account statements just like other lotteries do. I don't remember being questioned on any deposits, but I may just not have had any that looked "suspicious."
Warning: these apartments are NOT rent-stabilized. The rent increases automatically based on the AMI. In the ~2.5 years since the first lottery, the 160% AMI 1-bed apartment rent has jumped more than $400. (Also, you may already know this, but there is a monthly charge per a/c, so for a 1-bed that's adding about $50/mo. to the rent.)
I'm afraid I don't have any personal experience with the lottery and self-employment.
IIRC, they requested bank account statements just like other lotteries do. I don't remember being questioned on any deposits, but I may just not have had any that looked "suspicious."
Warning: these apartments are NOT rent-stabilized. The rent increases automatically based on the AMI. In the ~2.5 years since the first lottery, the 160% AMI 1-bed apartment rent has jumped more than $400. (Also, you may already know this, but there is a monthly charge per a/c, so for a 1-bed that's adding about $50/mo. to the rent.)
That person running that blog seems... a bit perturbed.
Why would anyone choose to live in StuyTown? Well, I am guessing because this most recently lottery was *actually* affordable. I'll just park there while waiting on my ML applications to be called. My white whale is York Hill on York Ave between 81st and 82nd... lol.
Yep, I'm sure. I went far enough in the process to be sent a copy of the lease which has the weird rent-increase rider. There's an old thread around here somewhere where (I think) someone else pulled out the relevant language.
But you don't have to rely on my memory--keep going and eventually you'll get a copy of the lease and can see for yourself.
ST has its problems for sure (more since the NYU undergrad population increased), but it's got a good location (at least, if you're not stuck out towards Ave C) and the apartments are large for NYC. I have to talk myself out of it every time--but the "affordable" rents are ridiculous.
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