Affordable rental definition

Affordable rental means that monthly rent and utilities do not exceed 30 percent of that amount which represents the percentage of the median adjusted gross annual income for extremely-low-income, very-low-income, low-income, or moderate-income persons.
Sample 1Sample 2
Affordable rental means rent that is outside the national rent regime but is subject to other rent controls that require it to be offered to eligible households at a rent of up to 80% of local market rents (inclusive of service charge) and Registered Provider of Social Housing will be required to calculate the rent based on the Royal Institute for Chartered Surveyors (RICS) approved valuations “Affordable Selling Price” means the valuation of the freehold interest in the Affordable Unit subject to the Local Occupancy Restriction as determined by the District Valuer or such other valuer agreed in writing by the Authority and the Mortgagee in Possession in accordance with the provisions of the Agreement “Affordable Unit” means a dwelling to rent at not more than an Approved Rental in accordance with the requirements set out in Schedule 1 of this Agreement “Application” means the application for planning permission for the Development registered by the Authority under the 1990 Act registered on the and given reference “Approved Rental” means any rental exceeding the Affordable Rental and determined from time to time by the Authority in accordance with paragraph 1(3) of Schedule 1 as being the maximum permitted rental for the Dwelling “Approved Selling Price” means a valuation of the freehold interest in the Dwelling subject to the Local Occupancy Restriction, as determined by the District Valuer in accordance with the provisions of this Agreement “Assured Tenancy” and “Assured Shorthold Tenancy” have the meaning ascribed to them by Sections 1 and 20 respectively of the Housing Xxx 0000 “Cascade Provisions” means the provisions set out in the Schedule 1 “Owner” respectively include their successors and assigns; “Commencement of Development” means the implementation of the Planning Permission by the carrying out of a material operation as defined at Section 56 of the Act of 1990 which is exclusively referable to the Planning Permission other than works of site clearance, archaeological research, ground investigation and decontamination or the erection of site hoardings, and the phrase “Commence Development” shall be construed accordingly “Defined Area” has the meaning ascribed to it by whichever of paragraphs 2(3), 2(4), 2(5), 2(6), 2(7), 2(8) or 3(4) of the Schedule 1 is for the time being applicable to the Dwelling
Sample 1

Examples of Affordable rental in a sentence

  • Affordable rental housing development policies of the C&D Policies Plan adapted for use in the Plan incorporate the Growth Management Principles of the C&D Policies Plan, which call for revitalizing regional centers, expanding housing opportunity and choice, as well as concentrating investments that support both development and transportation.

  • Affordable rental homes in integrated urban environments through sustainable institutions.

  • Affordable rental housing development policies of the C&D Policies Plan adapted for use in this Plan incorporate the Growth Management Principles of C&D Policies Plan which call for revitalizing regional centers, expanding housing opportunity and choice, as well as concentrating investments that support both development and transportation.

  • Affordable rental housing projects that provide services and assistance directly to residents upon request.

  • Affordable rental housing generally charges low cost rents at or below the HUD’s published Fair Market Rents.Fair Market Rent (FMR) is an amount determined by the U.S. Department of Housing and Urban Development (HUD) to be the cost of modest, non-luxury rental units in a specific market area.

  • Affordable rental units must have standard quality finishes, must have occupancy permits, and shall meet the following standards: • The minimum unit size for congregate senior projects shall be comparable to the size of market-rate units for all types and bedroom sizes, consistent with SCCC 17.10.032.

  • Affordable rental projects financed years ago are nearing the end of their affordability periods and are at risk of loss.

  • This monitoring is intended to verify that Affordable homeownership units remain owner- occupied and are resold at a price affordable to low- or moderate-income homebuyers, and that Affordable rental units are occupied by low- or moderate-income tenants at rents they can afford.

  • Affordable rental housing may be acquired and/or rehabilitated, or constructed.

  • This review will consist of the following general categories: Existing unit approvals and performance; Affordable rental concentrations; and Social and economic viability Specific datasets and metrics are used in examining each category.

Related to Affordable rental

  • Affordable Rent means a rent which does not exceed eighty per centum (80%) of the market rent (inclusive of service charges) for an equivalent property of the relevant size and location such rent to be assessed and set in accordance with the applicable requirements of Legislation and of the Rent Standard;

  • Affordable Housing Cost means an amount satisfied by:

  • Affordable Unit means a housing unit proposed or created pursuant to the Act and approved for crediting by the Court and/or funded through an affordable housing trust fund.

  • Affordable housing project means, for purposes of this part, title fourteen of article twenty seven of the environmental conservation law and section twenty-one of the tax law only, a project that is developed for residential use or mixed residential use that must include affordable residential rental units and/or affordable home ownership units.

  • Additional Rental has the meaning set forth in Section 4.03.

  • FHA Approved Mortgagee means a corporation or institution approved as a mortgagee by the FHA under the National Housing Act, as amended from time to time, and applicable FHA Regulations, and eligible to own and service mortgage loans such as the FHA Loans.

  • Affordable housing means, unless the context clearly

  • Rental means the Supplier’s charging rate for the hire of the Hire Goods which is current from time to time during the Hire Period;

  • Comprehensive assessment means the gathering of relevant social, psychological, medical and level of care information by the case manager and is used as a basis for the development of the consumer service plan.

  • Cathodic protection tester means a person who can demonstrate an understanding of the principles and measurements of all common types of cathodic protection systems as applied to buried or submerged metal piping and tank systems. At a minimum, such persons must have education and experience in soil resistivity, stray current, structure-to-soil potential, and component electrical isolation measurements of buried metal piping and tank systems.

  • Affordable means, a sales price or rent level that is within the means of a low- or moderate- income household as defined within N.J.A.C. 5:93-7.4, and, in the case of an ownership unit, that the sales price for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.6, as may be amended and supplemented, and, in the case of a rental unit, that the rent for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.12, as may be amended and supplemented.

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Rent means “eligible rent” to which regulation 12 of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 refer, less any deductions in respect of non-dependants which fall to be made under paragraph 30 (non-dependant deductions);

  • Insurance Rent the sums described in paragraph 1.1 of Schedule 4; “Insured Risks” the risks of fire (including subterranean fire), lightning, explosion, storm, flood, subsidence, landslip, heave, earthquake, burst or overflowing water pipes, tanks or apparatus, impact by aircraft or other aerial devices and any articles dropped from them, impact by vehicles, terrorism, riot, civil commotion and malicious damage to the extent, in each case, that cover is generally available on normal commercial terms in the UK insurance market at the time the insurance is taken out, and any other risks against which the Landlord reasonably insures from time to time, subject in all cases to any excesses, limitations and exclusions imposed by the insurers;10

  • Affordable housing development means a development included in the Housing Element and Fair Share Plan, and includes, but is not limited to, an inclusionary development, a municipal construction project or a 100 percent affordable development.

  • Urban renewal project means undertakings and activities of a municipality in an urban renewal area for the elimination and for the prevention of the development or spread of slums and blight, and may involve slum clearance and redevelopment in an urban renewal area, or rehabilitation or conservation in an urban renewal area, or any combination or part of them in accordance with an urban renewal plan. These undertakings and activities may include:

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Gross Rents means the actual sum of money or other consideration payable for the use or possession of property. "Gross rents" shall include, but not be limited to:

  • Historic building means a building, including its structural components, that is located in this state and that is either individually listed on the national register of historic places under 16 U.S.C. 470a, located in a registered historic district, and certified by the state historic preservation officer as being of historic significance to the district, or is individually listed as an historic landmark designated by a local government certified under 16 U.S.C. 470a(c).

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Restricted Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • School premises means either of the following:

  • Affordable Units means units that have rents that do not

  • Water-oriented use means a use that is water-dependent, water-related, or water-enjoyment, or a combination of such uses.

  • High Cost Home Mortgage Loan as defined in the Massachusetts Predatory Home Loan Practices Act effective November 7, 2004 or (iv) a "High-Cost Home Loan" as defined by the Indiana High Cost Home Loan Law effective January 1, 2005.