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 over and over again area median income But what does that actually mean In short area median income or … geography The Department of Housing and Urban Development is the agency charged with calculating AMI which determines …

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 rent controlled or rent stabilized units in New York City might not feel so …

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