Tenant Qualification Sample Clauses
Tenant Qualification. (i) Borrower covenants and agrees that at the time of the initial occupancy of an Income-Restricted Unit by a qualified Tenant, the Borrower shall have established that each household that leases an Income-Restricted Unit covered by this Agreement (A) meets the County Manager’s or her designee’s administrative requirements for the determination and verification of income and occupancy of such Income-Restricted Unit, and (B) has an income that qualifies it for occupancy of such Income-Restricted Unit as set forth in this Agreement. Annually thereafter, the Borrower shall obtain from each household that leases an Income-Restricted Unit a signed Income Certification for Income-Restricted Units Form, a sample of which is attached hereto as Exhibit H, establishing the continued eligibility of such household, based on then current income, to occupy the Income-Restricted Unit under the terms of this Agreement, together with a signed Annual Rental Occupancy Affidavit Form, a sample of which attached hereto as Exhibit I, certifying that such household continues to occupy the Income-Restricted Unit.
Tenant Qualification. (i) Borrower covenants and agrees that at the time of the initial occupancy of an Income-Restricted Unit by a qualified Tenant, the Borrower shall have established that each household that leases an Income-Restricted Unit covered by this Agreement (A) meets the County Manager’s or his designee’s administrative requirements for the determination and verification of income and occupancy of such Income-Restricted Unit, and (B) has an income that qualifies it for occupancy of such Income-Restricted Unit as set forth in this Agreement. Annually thereafter, the Borrower shall obtain from each household that leases an Income-Restricted Unit a signed Income Certification for Income-Restricted Units Form, a sample of which is attached hereto as Exhibit J, establishing the continued eligibility of such household, based on then current income, to occupy the Income-Restricted Unit under the terms of this Agreement, together with a signed Annual Rental Occupancy Affidavit Form, a sample of which attached hereto as Exhibit K, certifying that such household continues to occupy the Income-Restricted Unit.
(ii) Borrower covenants and agrees to accept Qualified Households for occupancy of the Permanent Supportive Housing Units. “Qualified Households” are persons who are identified by DHS who (A) have a mental and/or physical disability, (B) have a critical housing need, (C) require support services to live independently, and (D) for whom an independent apartment arrangement is appropriate – as determined by DHS. DHS shall refer Qualified Households to Borrower for tenant qualification and, when requested by DHS, Borrower shall waive the minimum income and credit requirements (including past evictions) for Qualified Households without violent criminal histories.
Tenant Qualification. 5.1 The Owner covenants and agrees that each Affordable Housing Unit shall only be rented or leased to a Tenant whose Total Household Income is equal to or less than a Moderate Income as determined under section 5.2.
5.2 For the purposes of this Agreement, a "Moderate Income" means the total income from all sources of a Household that is equal to or less than eighty (80%) percent of the median household income of residents of the City of Parksville (or nearest metropolitan area for which Statistics Canada complies such data, if that agency does not compile separate household income data for the City of Parksville), as determined from time to time by Statistics Canada under the most recent census conducted by that agency. In the event that Statistics Canada does not determine the median household income, as aforesaid, in a calendar year while this Agreement is in effect, then for such year (the "Current Year") the Moderate Income as calculated for the previous year of this Agreement (the "Previous Year") shall be adjusted in an amount equal to the percentage change in the Consumer Price Index (All Items) maintained by Statistics Canada for the City of Parksville or closest metropolitan area, from January 1 of the Previous Year to January 1 of the Current Year.
Tenant Qualification a. The Affordable Units are to be leased to and occupied by Eligible Tenants for use as their Principal Residence. Immediately prior to any occupancy of an Affordable Unit, Owner shall obtain from each applicant, and maintain on file, an Income Certification Form, that certifies the applicant’s income based on the current Gross Income of each adult Household member. The Income Certification Form shall be dated immediately prior to the date of initial occupancy of the Affordable Unit by the applicant.
b. Owner shall be required to accept tenants for Affordable Units submitted by City to Owner from the list of eligible program participants maintained by the Rent Stabilization and Housing Division of the City of West Hollywood, as provided in Section 9 hereof (“City List”). Affordable Units shall not be rented to Owner, its partners, members, their officers and employees, or their immediate relatives, including spouses, children, grandchildren, parents, grandparents, brothers, sisters, fathers-in-law, mothers-in-law, sons-in-law, daughters-in-law, aunts, uncles, niece, nephews, sisters-in-law and brothers-in-law.
c. Owner shall not be required to accept a tenant from the City List if Owner can demonstrate that the applicant cannot satisfactorily maintain an Affordable Unit in good condition and repair. In the event a rental application is rejected, Owner shall deliver to City written notice stating the reasons therefore within five business days after receipt by Owner of the application. This does not relieve Owner from the requirement to accept a subsequent tenant from the City List.
d. The Owner shall use diligent efforts to verify the qualifications of an applicant to reside in an Affordable Unit by obtaining the following applicable information from each adult Household:
(a) a certification of the applicant’s household size; (b) proof of income for the most recent three months; (c) copies of the federal and state income tax returns; (d) written verification of income and employment; an income verification form for the Social Security Administration and/or California Department of Social Services; and (e) any other information that City may reasonably require to verify the eligibility of a prospective applicant.
e. Four months following the end of each calendar year, Owner shall recertify the income of each tenant in an Affordable Unit by obtaining a from the tenant completed a Tenant Income Certification Form (Exhibit 5) based on the current income of eac...
Tenant Qualification. 1 For example, if in year one, the AMI increase is 2%, then the rent increase shall be 2% (which is the lesser of 2% or 2.5%). Assume the following year, the AMI increase is 3.0%, the rent increase would be calculated to be the lesser of the AMI increase or 2.5%. Since the AMI increase in year two is more than 2.5% (and in the prior year it was less than 2.5%), the AMI Adjustment Factor will apply and the percentage difference between the AMI increase from the previous year and 2.5% (0.5%) will be carried forward and added to the rental rate increase, which would be 2.5% plus 0.5% for a total rental rate increase of 3.0%.
(A) Borrower covenants and agrees that at the time of the initial occupancy of an Income-Restricted Unit by a qualified Tenant, the Borrower shall have established that each household that leases an Income-Restricted Unit covered by this Agreement (A) meets the County Manager’s or his designee’s administrative requirements for the determination and verification of income and occupancy of such Income-Restricted Unit, and (B) has an income that qualifies it for occupancy of such Income-Restricted Unit as set forth in this Agreement. Annually thereafter, the Borrower shall obtain from each household that leases an Income-Restricted Unit a signed Income Certification for Income-Restricted Units Form, a sample of which is attached hereto as Exhibit K, establishing the continued eligibility of such household, based on then current income, to occupy the Income-Restricted Unit under the terms of this Agreement, together with a signed Annual Rental Occupancy Affidavit Form, a sample of which is attached hereto as Exhibit L, certifying that such household continues to occupy the Income-Restricted Unit.
Tenant Qualification. Tenant shall not assign this Lease or sublet any part of the Leased Premises to any individual, entity, or organization that is not primarily engaged in business, research, or development this is consistent with the use and operation of the Research Park.
Tenant Qualification. Borrower covenants and agrees that at the time of the initial occupancy of an Income-Restricted Unit by a qualified Tenant, the Borrower shall have established that each household that leases an Income-Restricted Unit covered by this Agreement has an income that qualifies it for occupancy of such Income-Restricted Unit as set forth in this Agreement. Annually thereafter, the Borrower shall obtain from each household that leases an Income-Restricted Unit a signed Income Certification for Income-Restricted Units Form, attached hereto as Exhibit J, establishing the continued eligibility of such household, based on then current income, to occupy the Income-Restricted Unit under the terms of this Agreement, together with a signed Annual Rental Occupancy Affidavit, a form of which is provided by the County and attached hereto as Exhibit K, certifying that such household continues to occupy the Income-Restricted Unit.