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25 Dorchester 1BR apartments 50% AMI in Dorchester at $803

Aparatment Construction

Each person received a number when their sealed apartment lottery application arrived.  One thousand showed up. Twenty-five will be selected. The rent is $803/mo for a 1BR new-build. 

Real estate brokers won’t touch this. They are not needed in the Massachusetts rental lottery. Used 1-BR apartments are going for more than $1,499 in the city.

This one is brand-new.  
You can’t smoke in this building.

If two or more will live in the apt,  the household income is restricted to $49,680. FICO and credit reports will be checked. 

The housing lottery Opening Date has arrived, in this real-world scenario.

Curtain call comes. 

Lights! Camera! Action!

Bean counters randomly cycle numbers that were assigned to applications. 
A person twirling a barrel or a machine and a software program picks the numbers. Its like lucky guessing. There could artificial intelligence driving the decision making. And if it is, the AI may be biased!

The air is tense. Sometimes the lottery manager will provide space for a crowd to gather and watch as the number picking process unfolds. The application forms may be stacked up there, or they have been filed and substituted with a computer-printed number.

Hopeful tenants filed them on time!  The Internet and the U.S. Post Office delivered them.  Some were hand-delivered before the deadline arrived.

And the winners are Twenty-five tenants!

The office starts its due diligence process on them. The household income fit is checked, among other things like Preferences, homeless status. The verification process takes a while. 

Then it happens.  

Eight hopeful applicant applicants are disqualified because they filed a non-compliant application in the lottery.

The lottery mechanism picks the next eight from the ranked list. 

 Months later, the building begins to fill.

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Brand new Fenway Park Luxury Apartments use this lease contract language.

Van Ness interior

These are excepts of the the apartment rental lease language in rental contracts offered by most Boston luxury apartment buildings for tenants who are going to rent one.  The lease for subsidized or the  affordable rental units set aside may possibly be different.

LEASE EXCEPT
Residence: Up to 24 months of rental history may be verified on present and previous residence. A positive record ofprompt monthly payment, sufficient notice, and no damages is expected. For applicants who are homeowners, permission must be granted to verify payment history with the bank or lending institution.
Credit Report: An unsatisfactory credit report can disqualify an applicant from renting an apartment at this community. An unsatisfactory credit report is one that reflects past or current bad debts, late payments or unpaid bills, liens, judgments or bankruptcies. If an applicant is rejected for poor credit history, the applicant will be given the name, address and telephone number of the credit reporting agency that provided the credit report (but not be told the content of the credit report). An applicant rejected for unsatisfactory credit is encouraged to obtain a copy of the credit report from the credit reporting agency, correct any erroneous information that may be on the report, and resubmit an application to this community.
Employment/Income: Stable employment record and income verification shall be required. In order for an applicant to be approved, he/she must generally earn on a gross monthly basis a minimum of two times the gross monthly leased rent. Acceptable income verification if required may include: a paystub; a letter from the employer; the most recent W-2 form; or, for self-employed or non-employed applicants, a copy of the most recent tax return or certified verification from his/her company accountant or from a bank showing a balance sufficient to pay rent for 24 months.

Criminal Background: Grounds for rejection of an applicant or occupant may include, but are not limited to, any felony conviction or arrest record. We also do not lease to applicants with certain misdemeanor arrests and convictions.

Verification is through state public records.

Co-signers / Guarantors In the event a co-signer/guarantor is required, he/she must complete an Application for Occupancy and meet all income
and qualifying standards. A co-signer/guarantor will be fully responsible for the Lease Agreement if the occupying resident(s) default.
Subletting Subletting is prohibited at this community …..]

END of EXCERPT

 

 

The Affordable Units Rent for These Prices
at the new Van Ness luxury apartments at Fenway ParkVan Ness Affordable Lottery Rates