Why are low income waiting lists or affordable waiting lists so long?
I asked myself the same question. In short, there are millions of applicants that live in NYC and are looking for an affordable apartment. People do not want to pay more than 40% towards their rent anymore and understandably so.
Based on my research, a management company received hundreds of application inquiries every week! It is typical for a building to have several thousand applicants waiting for an apartment to become vacant. And who wants to move out of an apartment paying low rent? Which means that tenants continue renewing their leases and the waiting list keeps on growing. Unfortunately, many management companies do not purge their waiting lists and because of this you may be waiting years to be called for an available apartment.
Any questions, just send me an email.
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