Seventy-Five lucky households will be selected through a New York City Housing Lottery to obtain a brand new apartment at restricted middle income prices. Through this new program, paying less for an apartment isn’t just smart, it’s
The RentSmart lottery is run in cooperation with The Lois, the NYC Department of Housing Preservation and Development, and Lisa Management Inc.
The Lois is a new 250-unit building on Clarkson Avenue, just east of Nostrand Avenue. Thirty percent of the units have been set aside for middle income residents, which means the monthly rent is affordable to middle income households and those households must qualify at the outset, not making too much or too little. To apply for these units, applicants have to enter a housing lottery administered by NYC Department of Housing Preservation and Development.
RentSmart is housing that is affordable to middle or moderate-income households. The RentSmart apartments at The Lois are affordable to households who earn 90-130% of AMI. AMI is the Area Median Income which is set by HUD and incorporates the NYC metropolitan area. This is the metric used by the City of New York for all affordable housing programs.
Everyone who is within the income brackets! If your household income and size are within the range on the chart above you could qualify. If your income is above the maximum, please enter your information here and we will get back to you when The Lois’s market rate units are available. If your income is below the minimum, take a look at NYC Housing Connect to see what other housing opportunities could apply to you.
A household is everyone who will be living with you in the apartment. This could be a spouse, domestic partner, parent, child, sibling, or other family member. A household can also consist of you and a roommate provided you already live together and have a current lease or utility bills that demonstrate a shared address.
Saving on rent! The apartments in The Lois Lottery have preset, reduced rents that can save you between $2,000 - $8,000 on rent every year. In addition to the savings, your apartment will also be rent stabilized, which means that your rent can only increase by fixed amount determined each year by the Rent Guidelines Board.
Not just yet! If you are selected through the lottery process you will be able to see an apartment during the interview process. Until then, check out sample floorplans and the great apartment features.
Absolutely! The Lois has excellent amenities including an attended lobby with package storage, children’s playroom including an outdoor space, fitness center, yoga/meditation space, furnished indoor residents lounge, game room, private storage*, bike room*, covered and uncovered parking spaces* and furnished common roof deck complete with grilling station, seating for dining al fresco, lounging and sunning (*additional fees apply).
The apartments available through the lottery are exactly the same as the market rate apartments. They come with the same finishes and amenities as the market rate apartments including hardwood floors, energy efficient stainless steel appliances, in-home washer/dryer, individual climate control and more. For more on the apartment features, please click here.
Definitely! If you qualify, you have the chance to save up to $8,000 a year on an apartment in a new, amenity-rich luxury building. There is no guarantee you will be called but there is also no risk in applying. There are no application fees, so there is nothing to lose!
It’s impossible to say the odds of winning until the lottery is concluded because we don’t know how many applicants will enter. As the saying goes “you have to be in it, to win it!!”
Applications can be submitted in 2 ways. Share your email address with us and we will remind you to complete your application!
1. Mail in a written request for an application to:
The Lois, c/o Lisa Management 826 Broadway, 11th Floor New York, NY 10003
Once you receive the application, complete it and mail it to the PO Box on the application.
2. Go to HousingConnect, create an account, set up your profile, fill out the application and submit it online.
**Important: Do not submit more than one application. Doing so may disqualify you.
All applications must be received by March 25, 2020. Remember, only submit one application. If you submit more than one application, you may be disqualified.
Once the deadline date is reached and we begin processing the applications it can take anywhere from 2 – 10 months. Yes, that appears to be a long time but you have nothing to lose and a great apartment to gain if you’re selected. This guide provides a timeline of what to expect during this process.
Yes. This is a new program offered through the NYC Department of Housing Preservation and Development. Moderate Income families have also been priced out of the market, so this new program was developed to target moderate income households. As long as your combined income is within the income range and matching household size stated in the Affordability chart then you have the possibility to qualify. The common rule of thumb is for housing to be affordable, households should spend no more than 30% of their income on rent and utilities.
Once you have been contacted, provide the requested documents, appear to be eligible and HPD approves your file, you will likely be able to move in within a few weeks.
Check out this handy guide that breaks down exactly how to calculate your income.
You can stay in your apartment as long as you wish, provided you abide by the terms of your lease. There are no annual income recertifications, so you only need to qualify for the apartment once. Also, your rent will not be increased based on your income, only based on what the Rent Guidelines Board determines each year.
Click here for a complete list of documents. You will only need documents that are applicable to your household.