Tenant Rent Options Clause Samples

Tenant Rent Options a. Annual choice by family. Once a year, the Landlord will give you the opportunity to choose between two methods for determining the amount of Tenant Rent payable monthly. You may choose to pay as Tenant Rent either a flat rent as determined in accordance with paragraph (b) of this section, or an income-based rent as determined in accordance with paragraph (c) of this section. Notwithstanding anything to the contrary, the Tenant Rent may not exceed the maximum allowable low income housing tax credit or other affordable housing program rents, if those programs were used to finance your unit. Except for financial hardship cases as provided in paragraph (d) of this section, you may not be offered this choice more than once a year.