As long as you abide by the terms of your lease, your lease renewal will be offered automatically, and increases will be in accordance with the Rent Guidelines Board.
You are only required to qualify at move-in, and thereafter, you can stay in the unit for as long as you wish, even if your income increases. What happens after I move in? Will I need to requalify every year? Two pets with a maximum fully grown weight of 50 pounds are permitted per apartment. Yes, there is an amenity fee of $75/month. Bicycle storage is an additional $15/month for each bike. For more information on documentation requirements, please see the “ After You Apply” section on HPD’s website. Start to keep these now so you will have them easily available if you are invited for a consultation. What information will I need to present? īe prepared to present copies of recent years’ federal tax returns, recent paystubs, and copies of financial statements.
For more information on how income is calculated, please see the “ Applicant Income Guide” from HPD’s website. If you are reached for further processing, be prepared to submit a statement that details projected income and expenses through the end of the current calendar year. (Gross income is the income you receive before any taxes or deductions.) For self-employed applicants, net income is analyzed, which includes net business income from current and prior years. Income will be calculated using gross annual income. Is net or gross income used to determine your income eligibility? This includes wages, bonuses, tips, unemployment compensation, alimony, child support, pension benefits, Social Security benefits, recurring gifts and public assistance. Income is from all sources from anyone over the age of 18 in your household. Frequently Asked Questions What constitutes income?
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