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 … options based on the size of the project For example large rental projects with 100 or more units receive a 35year tax …

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 … improvements … Renovation … Rentrentals … renting … What is a major capital improvement and how does it affect …

By Celia Young |September 11, 2024 - 10:30AM
Understanding ‘succession rights,’ a complex issue for rent-regulated tenants

… New York City apartments the rentregulated unit When they vacate the apartmentwhether they pass away move into assisted living or migrate to milder climatesyou may want … the primary tenant leaves or passes away not when they send notice … Proving your succession rights  … Its crucial to

By Celia Young |January 9, 2024 - 11:00AM