What exactly is the 'AMI' that's used to determine affordable housing rents?

… affordable housing lottery youve probably read one key term over and over again area median income But what does that actually mean In short area median income or AMI defines the median incomes … units For example 60 percent of the incomerestricted apartments built under the citys 421a program between 2017 …

By Celia Young |October 22, 2024 - 9:30AM
What is a 'major capital improvement' and how does it affect the rent?

… While you want our apartment to be kept in good condition tenants of … so happy when the see the phrase major capital improvements Thats the term used for upgrades that justify a landlord … joints in the brickwork or masonry of exterior wallsand it does fall within the MCI category as does waterproofing …

By Celia Young |September 11, 2024 - 10:30AM