Renting Below the Benchmark Sample Clauses

Renting Below the Benchmark. Service personnel can rent a property that costs less than the benchmark and the Rental Payment will not ordinarily be adjusted. This means that if a Service person rents a property costing less than the benchmark cost, they will have a smaller personal contribution. The value of the monthly rental payment must not exceed the actual rent paid by the Service person. Therefore, if the rent for the chosen property is less than the entitled rental payment, the rental payment will need to be reduced (see figure two). This will be checked by Unit HR when the Service person submits their rental agreement. If during the tenancy the rental payment starts to exceed the rent, the Service person must tell Unit HR. In these instances, Unit HR should stop the rental payment from the date it begins to exceed the rent and place the Service person on a Specially Approved Rate (SAR) at the value of the rent instead. If a Service person is found through annual checks or audit to be receiving a rental payment greater than their actual rent, the overpayment will be reclaimed. If renting below the benchmark, Service personnel should carefully consider whether the size and standard of accommodation is suitable for them and their family.
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Related to Renting Below the Benchmark

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  • NOW IT IS HEREBY AGREED as follows:

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  • NOW, THEREFORE the parties hereto agree as follows:

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  • NOW THEREFORE THIS AGREEMENT WITNESSETH that, in consideration of the mutual covenants and provisos herein contained, THE PARTIES HERETO AGREE AS FOLLOWS:

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