Verra
Combining comfort, warmth, and hospitality, Verra was designed to provide elevated living for an exceptional community of people: an ideal place to call home, in the heart of Allston’s most vibrant new destination.
Verra is located at the Enterprise Research Campus (ERC) in the Allston neighborhood of Boston, directly across the street from Harvard Business School. A community-driven destination, the ERC will feature a new lifestyle hotel and rooftop bar, restaurants, retail, lab & office space, a conference center, and 2-acre open space with year-round programming. Our location will be a premier destination for diverse food offerings, local nightlife, live music, and cultural events. Verra provides unparalleled views of Boston and Cambridge as well as curated spaces that both calm and inspire.
LOTTERY PROCESS
Applications will be distributed between the dates stated above. Applications will be made available online, by mail, and in-person during the scheduled distribution times. Applicants that prefer to submit a hard copy of the application (versus the online application) are required to mail the completed application back to Maloney Properties, Inc. The application must be postmarked on or before the application deadline date. Applications will also be accepted by email.
1. Applicants who submit a complete application by the deadline will then be entered into the lottery.
2. All applicants will receive an application number.
3. The application number is used for the lottery to keep the identity of applicants confidential.
4. Maloney Properties will then conduct a lottery and each applicant will then be assigned a lottery number (lottery #1 being first).
5. Following the lottery, we will then show the units to the top applicants based on the lottery number and preferences. At this stage, we will begin to request supporting documentation (paystubs, bank statements, taxes, etc.).
Please note that entry in the Lottery Drawing does not constitute qualification or eligibility. Applicant’s eligibility will be determined post lottery.
FAQ / FREQUENTLY ASKED QUESTIONS
Income Questions:
How is my income calculated?
The household income is calculated based on the gross income of the household. Commissions, bonuses and other regular payments are included and considered part of the gross annual income.
I didn’t file taxes last year. What do I need to provide?
Individuals or households who did not file taxes must provide a verification of non-filing from the IRS in lieu of a tax return. To obtain the verification of non-filing, applicants should fill out a 4506-T form and file it by mail or hand-deliver it to an IRS office. The IRS will mail back a letter of verification which must be provided with the income materials given to the marketing agent. See the IRS website to download a 4506-T form.
I received a pay raise between the time I picked up an application and the time I was income certified and now I am over the income limit. What do I do?
Income is calculated at the time the applicant submits an application to the lottery agent, not during the application process or at the time of the lottery. Eligibility must be maintained from the time of the application pick up until after income certification verification. Unfortunately, if an applicant’s income is over the income limit, the applicant will not be eligible for the particular unit for which they applied.
I have children in school/college, how does this affect my application?
Income from children in school/college under the age of 18 is not considered towards the income of the household.
Are student loans considered income?
Student loans are not considered income and may not be used to income qualify.
I am separated from my spouse, does this affect my application?
Legally married couples shall both be considered part of the household, even if separated. Applicants with additional questions regarding this policy must speak with the marketing agent/seller.
I would like to appeal a decision regarding income eligibility. How do I appeal? Applicants who are rejected will receive a rejection letter in writing and will be given 7 days for the opportunity to appeal the decision.
If you have questions about this property, please contact us at Verra@MaloneyProperties.com or call us at (617) 531-7123 Ext 798 | US Relay 711