Xxxxx Xxxx, Amount of Rent a. The initial term of this Lease is twelve (12) months, unless otherwise modified or terminated in accordance with Section 17. The Lease shall automatically be renewed for successive terms of one year.
b. At admission and each annual recertification the Tenant will be given a choice between paying an income-based rent or flat rent. The formula for income-based rent is established in Federal Regulations. Unless revised in the regulations, a Tenant pays the greater of 30 percent of adjusted monthly income or 10 percent of monthly income, but never less than the HACC minimum rent of $ . Flat rent is a market-based rent that reflects the age, size, location, condition and amenities of each of HACC’s developments.
c. Families that include at least one member who is either a U.S. citizen or an eligible immigrant and other members who are neither U.S. citizens nor eligible immigrants are called “Mixed Families”. As required by Federal law, these families will pay a higher pro-rated rent based on the percentage of members who are eligible for housing assistance.
d. In developments with Tenant-paid utilities, only tenants who pay an income-based rent will receive a Utility Allowance. Flat rent payers do not receive a Utility Allowance.
e. The rent amount is stated in the Part 1 of the Lease. Rent shall remain in effect unless adjusted by HACC in accordance with Section 2 of this Lease. The amount of the rent shall be determined by HACC in compliance with the HUD regulations.
f. Rent is due and payable in advance without demand on the first day of each month. Rent is late if not paid by the later of the 5th business day of the month or two business days after the documented receipt of income from government assistance (TANF, SSI, Social Security).
g. Failure to pay rent on time is a serious lease violation and grounds for lease termination, but HACC shall not penalize Tenant for government payments that are late.
h. Three late payments within any 12 month period shall be considered repeated late payment and shall be a serious lease violation and grounds for lease termination, although the Manager must take the date income is actually received into account in making a determination of late payment.
Xxxxx Xxxx, Amount of Rent. The initial term of this Lease is twelve (12) months, unless otherwise modified or terminated in accordance with Section 17. The Lease shall automatically be renewed for successive terms of one year. At admission and each annual recertification the Tenant will be given a choice between paying an income-based rent or flat rent. The formula for income-based rent is established in Federal Regulations. Unless revised in the regulations, a Tenant pays the greater of 30 percent of adjusted monthly income or 10 percent of monthly income, but never less than the PHA minimum rent of $ . Flat rent is a market-based rent that reflects the age, size, location, condition and amenities of each of PHA’s developments. Families that include at least one member who is either a U.S. citizen or an eligible immigrant and other members who are neither U.S. citizens nor eligible immigrants are called “Mixed Families”. As required by Federal law, these families will pay a higher pro-rated rent based on the percentage of members who are eligible for housing assistance. In developments with Tenant-paid utilities, only tenants who pay an income-based rent will receive a Utility Allowance. Flat rent payers do not receive a Utility Allowance. The rent amount is stated in the Part 1 of the Lease. Rent shall remain in effect unless adjusted by PHA in accordance with Section 5 of this Lease. The amount of the rent shall be determined by PHA in compliance with the HUD regulations. Rent is due and payable in advance without demand on the first day of each month. Rent is late if not paid by the later of the 5th business day of the month or two business days after the documented receipt of income from government assistance (TANF, SSI, Social Security).
