Rent Limit. The rent limit is the maximum rent that can be paid for a unit of a given size which must not exceed 150 percent of HUD’s Fair Market Rent (FMR). Rent calculations must include the cost of utilities as detailed on utility allowance schedules established by the local Housing Authority. Payment of rents in excess of 150 percent of FMR requires prior approval by Commerce.
Appears in 4 contracts
Samples: Contract for Community Behavioral Health Rental Assistance, Contract for Community Behavioral Health Rental Assistance Long Term Housing Subsidies, Contract for Community Behavioral Health Rental Assistance Long Term Housing Subsidies
