Common use of Establishment of Maximum Rent Clause in Contracts

Establishment of Maximum Rent. The maximum allowable monthly rent (“Maximum Allowable Rent” or “MAR”) for each Rental Affordable Unit shall be determined through the use of one of the two following formulas: (a) MAR = (AMI * DAL * OSF * 30%) / 12 – MU (if the Household pays any Utility costs directly to the Utility providers) or (b) MAR = (AMI * DAL * OSF * 30%) / 12 (if all Utility costs are included in the rent payment to Owner) (“Rental Formula”), where:

Establishment of Maximum Rent. The maximum allowable monthly rent (“Maximum Allowable Rent” or “MAR”) for each Rental Affordable Unit shall be determined through the use of one of the two following formulas: (a) MAR = (AMI * DAL * OSF * 30%) / 12 – MU (if the Household pays any Utility all utility costs directly to the Utility utility providers) or (b) MAR = (AMI * DAL * OSF * 30%) / 12 (if all Utility utility costs are included in the rent payment to the Owner) (“Rental Formula”), where: