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 … AMI which determines a persons eligibility for the citys affordable housing lottery In New York City AMI is based on … that at least 40 percent of a developments units must be affordable to households who make up to 90 percent of AMI in …

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

… not feel so happy when the see the phrase major capital improvements Thats the term used for upgrades that justify a … even in the middle of a lease The city defines an MCI as an improvement benefiting all the tenants in the building … apartments the increase for the year is capped at 15 percent Tenant advocates argue landlords are getting …

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