RECOMMENDED IN RENT
RECOMMENDED IN BUY
RECOMMENDED IN SELL
RECOMMENDED IN IMPROVE
80/20
What exactly is the 'AMI' that's used to determine affordable housing rents?
… If youve ever entered New York Citys affordable housing lottery youve probably read one key term … income thresholds This year the 421a program was replaced by the new 485x tax incentive program which has a range of … units For example 60 percent of the incomerestricted apartments built under the citys 421a program between 2017 …
Ask Sam: How much can the rent increase by in 80/20 buildings?
… housing program developers are given tax breaks in exchange for reserving 20 percent of the apartments in their buildings for lowincome renters Most of … the landlord stops receiving those tax breaks the buildings affordable apartments will be removed from stabilization But …
Ask Sam: Can my 80/20 building shut its subsidized tenants out of the new laundry room?
… the poor door controversy a few years ago the city has changed its rules to eliminate the possibility of that kind … building to charge some tenants for access to the laundry room but not others If you suspect your landlord is … associations in disputes over evictions rent increases rental conversions rent stabilization law lease buyouts and …
Here's how incomes—and rents—are REALLY calculated in NYC's affordable housing
… While many New Yorkers are clamoring for a spot in one of the citys rare affordable 8020 rentals often when you look into a buildings income requirements and rents theres an inevitable followup … Housing Development Corporation HDC However that figure is based on data from the larger New York metro area which …
Ask Sam: If I start making more money, will I lose my 80/20 apartment?
… your finances even after youve signed the lease an increase income isnt likely to cause you problems here says Sam … annual review submitting information on your current financial situation But even if you report new higher … review you arent likely to be booted from your home Most lowincome tenants in the 8020 program arent at risk of …