Friday, March 9, 2012
Is rent controlled apartments in NYC subject to your salary level.
Is there a cut off limit on what your salary is?
Finally,with all the scams going around ,what is the most SAFE and efficient way to look for a rent controlled apartment in NYC?|||Rent Controlled apartments are being phased out. The only way to have a rent controlled apartment is to already be living in one for many years. If you are single and have always lived with your mother or parents who were the original renters in a rent controlled apartment then you can stay until you die if you get married then the apartment dies with you and your wife will have to leave.
There are still a few rent stabilized apartments left but they are fast disappearing as many apartment buildings have been converted to co-ops where the apartment dweller buys shares in the co-op and technically owns the apartment and can sell it if he/she desire to move.
There is a thing known as Section 8 housing where if your income is low then you can be accepted into the Section 8 program and be given a voucher to give to a landlord. The voucher says that the Government will pay a portion of your rent and you will pay 30 percent of the rent based on your income. If your income goes to high then you will not be eligible any longer on that program and then you will have to pay the full rent. Usually these Section 8 apartments are generally in areas that are not "too safe".
The following link will explain to you in great detail the History and current status of "Rent Controlled Apartments in New York City
Here is the link:
http://en.wikipedia.org/wiki/Rent_contro鈥?/a>
Also if you read through the information in the above link you will find out about the history and rules of Rent Stabilization also.
I hope that this information and the corresponding website link will help you in finding out what you want to know.|||Rent *control* is only available in NYC if your family has inhabited the same apartment since 1971, so if you have to ask, that's not you.
What you may be looking for is rent stabilization, a system that allows rent to increase only a specified percentage each year. It's restricted to certain buildings, and you're not eligible if your household income exceeds $175,000 per year.
Look on Craigslist for rent stabilized apartments; you'll find tons of listings. But bear in mind that rent stabilization provides a disincentive for the landlord to maintain a building, AND an incentive to get you out (as replacing a tenant is an opportunity to raise rent under the stabilization program). These days there are many apartments shown through a broker but without a broker fee, so after you settle on a neighborhood of interest you may be able to locate a brokerage office that has some rent-stabilized listings and enlist their help finding a workable apartment.
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