USE OF BELOW-MARKET RENTAL UNITS Sample Clauses

USE OF BELOW-MARKET RENTAL UNITS. 3.1 Occupancy and Tenure of Below-Market Rental Units – The Owner must not rent, lease, license or otherwise permit occupancy of any Below-Market Rental Unit except in accordance with the additional conditions: (a) the Below-Market Rental Units must be used or occupied only for residential rental purposes pursuant to a Tenancy Agreement; (b) each Below-Market Rental Unit may only be tenanted to an Eligible Tenant, who: (i) at the time of entering into the tenancy, resides in Langford; and (ii) at the time of entering into the tenancy, does not own any land as defined by the Interpretation Act. (c) the Owner, and/or any immediate family member (spouse, parent, sibling, child by blood, marriage, or adoption), will not reside in a Below-Market Rental Unit; (d) the Owner will enter into a minimum 1-year Tenancy Agreement for each of the Below-Market Rental Units which will convert to a month-to-month tenancy at the end of the first-year term; (e) the Owner will not require the Tenant or any permitted occupant to pay any extra charges or fees for sanitary sewer, storm sewer, water or property or similar tax; (f) the Owner will attach a copy of this Agreement, or at a minimum Articles 2 and 3 of this Agreement, to every Tenancy Agreement; (g) the Owner will notify the City when a Tenancy Agreement terminates for any reason and will notify the City when the Owner enters into a Tenancy Agreement; and (h) the Owner will forthwith deliver a true copy of any Tenancy Agreement to the City upon demand.
Sample 1
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USE OF BELOW-MARKET RENTAL UNITS 
Sample 1

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