Rent Reasonableness Sample Clauses

Rent Reasonableness. In accordance with 24 CFR 982.507, the rent that Landlord charges for the Unit must be reasonable in relation to rents currently being charged for comparable units and must not be in excess of rents currently being charged by the Landlord for comparable units that are not receiving federal rental assistance.
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Rent Reasonableness. Rent reasonableness means the total rent charged for a unit must be reasonable in relation to the rents being charged during the same time period for comparable, non-luxury units in the private unassisted market. Rent reasonableness is performed by one of the following 🗸 Performing a rental market analysis/study in the rental market where the rental is located in. The market analysis/study must be performed, at a minimum, annually and no more than quarterly. 🗸 Reviewing comparable units advertised for rent as detailed below When determining rent reasonableness, grantees must consider the following characteristics of the units to ensure they are comparable: location, quality, size, type, amenities, housing services, maintenance, and utilities included in the rent. Though units may have different features, they should be relatively comparable in based on their characteristics and amenities. Verification that the rent charged for this units do not exceed rents charged for other comparable units owned (for example, the landlord would document the rents paid in other units). Grantees must document rent reasonableness using the Rent Reasonableness Worksheet and attach all applicable backup documentation. For more information, see HUD’s guide at: ▇▇▇▇▇://▇▇▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇/resources/documents/CoC- Rent-Reasonableness-and-FMR.pdf.
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Rent Reasonableness. Rent will be reviewed for reasonableness as compared to other rents being charged to unassisted rental units. Lease can be denied if rent is determined to be unreasonable. Rent Adjustments. 60 days notice is required to the Tenant and the LPA for reasonable adjustments. The proposed rent may be rejected. The Tenant may reject the proposed rent by providing the Landlord 30 LPA rejects the proposed rent, the program administrator must give both the Tenant and the Landlord 30 days notice of intent to terminate the Contract.
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Rent Reasonableness. The Recipient must disapprove a lease if the rent is not reasonable, based on rents that are charged for comparable unassisted rental units.
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Rent Reasonableness. For PHA-owned units, the amount of the reasonable rent must be determined by the HUD-approved independent entity, rather than by the PHA.
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Rent Reasonableness. LANDLORD agrees the contract rent for a housing unit leased to Tenant shall not exceed one hundred percent (100%) of the current Fair Market Rent for the corresponding bedroom size, as published by HUD, less the appropriate and effective utility allowance. Neither LANDLORD nor COUNTY shall apply any ESG-RRH Program assistance paid on behalf of Tenant towards the special purposes of HUD’s Section 8 Program to the extent that such alternative funding becomes available to either party.
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Rent Reasonableness. ‌ The rental assistance paid cannot exceed the actual rental cost, which must be in compliance with HUD's standard of rent reasonableness.  Rent reasonableness means that the total rent charged for a unit must be reasonable in relation to the rents being charged during the same time period for comparable units in the private unassisted market and must not be in excess of rents being charged by the owner during the same time period for comparable non-luxury unassisted units.  To make this determination, the grantee should consider (a) the location, quality, size, type, and age of the unit; and (b) any amenities, housing services, maintenance and utilities to be provided by the owner. Comparable rents can be checked by using a market study, by reviewing comparable units advertised for rent, or with a note from the property owner verifying the comparability of charged rents to other units owned (for example, the landlord would document the rents paid in other units). For more information, see HUD's worksheet on rent reasonableness at: ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇/resource/2098/home-rent-reasonableness-checklist- and-certification/  A grantee must determine and document rent reasonableness for all units for which ESG rental assistance (including arrears) and/or security deposit assistance is being provided. The requirement applies whether homelessness prevention assistance or rapid re- housing assistance is provided.
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Rent Reasonableness. The Sub-recipient must determine whether the rent charged for the unit receiving rental assistance is reasonable in relation to rents being charged for comparable unassisted units, taking into account the location, size, type, quality, amenities, facilities, and management and maintenance of each unit, as well as not in excess of rents currently being charged by the same owner for comparable unassisted units.
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Rent Reasonableness. The CHA will perform Quality Control reviews on New Admissions, Rent Increases, Portability Move-ins, and Moves to ensure that the rent to owner is reasonable based on current rents for comparable unassisted units. All documents must be properly indexed in the tenant file at the time of CHA review and must support that each review took into consideration location, size, type, quality and age of the units, and the amenities, housing services, and maintenance and utilities provided by the owners in determining comparability and the reasonable rent. All rent reasonableness determinations must be in compliance with requirements established by HUD, CHA’s Administrative Plan, CHA’s Procedural Manual, and CHA Advisories.
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Related to Rent Reasonableness

  • Reasonableness In the event that the provisions of this Section 10 shall ever be deemed to exceed the time, scope or geographic limitations permitted by applicable laws, then such provisions shall be reformed to the maximum time, scope or geographic limitations, as the case may be, permitted by applicable laws.

  • Intent of the Parties; Reasonableness The Seller, Servicer, Sponsor and Issuer acknowledge and agree that the purpose of Article Three of this Agreement is to facilitate compliance by the Issuer and the Depositor with the provisions of Regulation AB and related rules and regulations of the Commission. None of the Sponsor, the Administrator nor the Issuer shall exercise its right to request delivery of information or other performance under these provisions other than in good faith, or for purposes other than compliance with the Securities Act, the Exchange Act and the rules and regulations of the Commission thereunder (or the provision in a private offering of disclosure comparable to that required under the Securities Act). The Servicer acknowledges that interpretations of the requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the Commission or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or otherwise, and agrees to comply with requests made by the Issuer or the Administrator in good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB. In connection with this transaction, the Servicer shall cooperate fully with the Administrator and the Issuer to deliver to the Administrator or Issuer, as applicable (including any of its assignees or designees), any and all statements, reports, certifications, records and any other information necessary in the good faith determination of the Issuer or the Administrator to permit the Issuer or Administrator (acting on behalf of the Issuer) to comply with the provisions of Regulation AB, together with such disclosures relating to the Servicer, any Subservicer and the Receivables, or the servicing of the Receivables, reasonably believed by the Issuer or the Administrator to be necessary in order to effect such compliance. The Issuer shall, and shall cause the Administrator (including any of its assignees or designees) to cooperate with the Servicer by providing timely notice of requests for information under these provisions and by reasonably limiting such requests to information required, in the reasonable judgment or the Issuer or the Administrator, as applicable, to comply with Regulation AB.