Learn Everything You Need to Know About Affordable Housing

You may also fall into a preference category. As previously stated, veterans are prioritized for Mitchell-Lama housing. Furthermore, most newly constructed buildings reserve 50% of their apartments for applicants within their community area. Additional units are set aside for priority groups such as municipal workers, pensioners, formerly homeless people, and those qualified for supportive housing.

 

Suppose you believe you were wrongfully denied from development. In that case, you must first contact the managing agent who sent you the rejection letter to initiate an appeal, which must be done within 14 days.

Can I keep my low-cost apartment indefinitely?

We’ve already discussed the Mitchell-Lama contracts, but what about within those two decades? The following information is provided by the New York State Division of Housing and Community Renewal:

All tenants/shareholders in Mitchell-Lama complexes monitored by DHCR are required to declare their income and the income of all household members on an annual basis and comply with housing company documentation requests. In addition, tenants in federally aided buildings are required by HUD to re-certify their income every year. Tenants in non-federally aided complexes must go through the DHCR’s annual income review process.

It’s a bit more hit-or-miss for apartments secured through the housing lottery. The New York City Housing Development Corporation states:

 

Low-income HDC-financed flats are part of the rent stabilization system, which means that your rent will typically increase by a percentage each year, based on the amount allowed by the Rent Guidelines Board. However, these gains are constrained by rent-increase caps in low-income housing programs. Middle-income apartments are included in the rent stabilization system, which means that your rent will increase by a tiny percentage each year based on the increase determined by the Rent Guidelines Board.

Contrary to popular belief, HDC observes whether a tenant’s income increases or decreases do not affect the rent. The same may be said for NYCHA and Section 8.

However, suppose an affordable unit was financed through a city tax abatement program such as 421-a or the Low Income Housing Tax Credit (both are part of the 80/20 program). In that case, you should be aware of when that abatement expires because rent stabilization will no longer be in effect, and you may not be able to renew your lease. All of this information should be provided at the initial lease signing.