Common use of Inability to Locate Tenants Clause in Contracts

Inability to Locate Tenants. In the event that a voucher-eligible unit remains unoccupied for a period of 60 days from when the previous lease ends after reasonable attempts to find a suitable tenant have been made, then the unit may be leased to a resident at 60% - 80% AMI at 30% of income for up to one year. If, after an additional 30 days, no suitable tenant is found after reasonable efforts, the unit may be leased for up to one year at market rates. Upon expiration of the initial lease, the unit shall convert back to a voucher-eligible unit or a different unit will be made voucher-eligible in the event the tenant wishes to stay beyond the initial lease. In the event a unit available for tenants between 60% and 80% AMI remains unleased for a period of 60 days and reasonable attempts to find a suitable tenant have been made, the unit may be rented at market rates for a period of up to one year. At the end of the initial lease-term, the unit shall convert back to an affordable unit at 60% - 80% AMI or a different unit shall be offered as affordable in the event the tenant wishes to stay beyond the initial lease.

Inability to Locate Tenants. In the event that a voucher-eligible unit remains unoccupied for a period of 60 sixty (60) days from when the previous lease ends after reasonable attempts to find a suitable tenant have been made, then the unit may be leased to a resident at earning between 60% - and 80% AMI at for no more than 30% of total household income for up to one year. If, after an additional 30 thirty (30) days, no suitable tenant is found after reasonable efforts, the unit may be leased for up to one year at market rates. Upon expiration of the initial lease, the unit shall convert back to a voucher-eligible unit or a different unit will be made voucher-eligible in the event the tenant wishes to stay beyond the initial lease. In the event a unit available for tenants earning between 60% and 80% AMI remains unleased for a period of 60 sixty (60) days and reasonable attempts to find a suitable tenant have been made, the unit may be rented at market rates for a period of up to one year. At the end of the initial lease-term, the unit shall convert back to an affordable unit at for individuals earning between 60% - and 80% AMI or a different unit shall be offered as affordable in the event the tenant wishes to stay beyond the initial lease.