Annual rent adjustment definition

Annual rent adjustment means the percentage by which the rent for an existing tenancy in a rental unit is increased within a 12-month period.
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Annual rent adjustment. The monthly base rent for each twelve month period subsequent to the first complete twelve month period occurring during the term of this Lease or any renewal thereof shall be computed by multiplying the base rent, as set forth in Paragraph Two, by a fraction whose numerator shall be the number reported by the U.S. Department of Labor, Bureau of Labor Statistics as the Revised Urban Wage Earners and Clerical Workers Index for the third month prior to the respective anniversary date and whose denominator shall be the number supplied for the third month prior to the commencement date of the Lease, provided that in no event shall such rent be less than the rent paid by TENANT for each twelve (12) month period of this Lease immediately prior to each anniversary date of this Lease. The LANDLORD shall notify the lessee of the adjusted monthly base rent, in writing, if such adjustment occurs. The TENANT agrees to pay the adjusted monthly base rent, together with any applicable taxes, on the first day of each and every month for the following twelve (12) month period. In the event the Bureau of Labor Statistics changes the form or the basis of calculating the Index, the parties agree that the burden shall be upon the LANDLORD to select the new Index to be used. The new Index selected by LANDLORD shall be an index comparable to the Index set forth hereinabove. TENANT'S annual rental payment due LANDLORD for each subsequent year that this lease shall be in effect shall be capped at a maximum of a three (3%) percent increase annually based upon the amount of the prior year's rental payment.
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Annual rent adjustment. The first sentence of paragraph 4.2 is hereby modified to read as follows: "During the first ten (10) years of the Lease Term and during any extension of the Lease Term pursuant to paragraph 19.0 of this Lease, the Base Monthly Rent specified in paragraph 1.3 shall be subject to annual increases determined by reference to the Consumer Price Index for All Urban Consumers, San Francisco-Oakland-San Jose, California. All Items (1992-84-100), published by the United States Bureau of Labor Statistics (the "CPI")." The following language shall be inserted after the first sentence of paragraph 4.2 of the Lease: "During the eleventh and twelfth year of the Lease Term, the Base Monthly Rent shall be identical to the Base Monthly Rent due and payable under the terms of the Lease for the last month of the tenth year of the Lease Term."
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Examples of Annual rent adjustment in a sentence

  • A landlord may also offer a tenant a lease for the rental unit for a shorter term.5.156.050 Annual rent adjustment; Notice of rent increase.

  • Annual rent adjustment of not more than five-percent, set to expire December 31, 2030.3. Local enforcement; and4.

  • Tenant relocation assistance for no-fault just cause evictions equal to (i) two months of the tenant’s rent that was in effect when the owner issued the notice to terminate the tenancy, or(ii) $5,000, whichever is greater.2. Annual rent adjustment of not more than five percent;3.


More Definitions of Annual rent adjustment

Annual rent adjustment and “Annual Rent Adjustment Date” are defined in Section 4.01(b).
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Annual rent adjustment means the rent adjustment made to the Base Rent not more frequently than once every 365 days.
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Related to Annual rent adjustment

  • RENT ADJUSTMENT Any amounts owed by Tenant for payment of Operating Expenses. The Rent Adjustments shall be determined and paid as provided in Article Four.

  • Annual Rent means the amount payable by Tenant to Landlord in respect of each year of the Term under Article 4.01.

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Base Rent As defined in Section 3.1.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Minimum Rent means the sum of Sixty-Six Million One Hundred Seventy-Six Thousand Five Hundred and Twenty-Six Dollars ($66,176,526) per annum; subject, in each case, to adjustment as provided in Section 3.1.1(b).

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Additional Rent means any and all amounts, other than Basic Rent, required to be paid by the Tenant under this Lease, whether or not same are designated “Additional Rent” or whether or not the same are payable by Landlord;

  • 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.

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

  • Percentage Rent As defined in Subsection 3.1(b).

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Base Year means the period set forth in Section 5 of the Summary.

  • 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 Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary, (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.

  • Comparison Year is defined as each calendar year during the term of this Lease subsequent to the Base Year; provided, however, Lessee shall have no obligation to pay a share of the Operating Expense Increase applicable to the first twelve (12) months of the Lease Term (other than such as are mandated by a governmental authority, as to which government mandated expenses Lessee shall pay Lessee's Share, notwithstanding they occur during the first twelve (12) months). Lessee's Share of the Operating Expense Increase for the first and last Comparison Years of the Lease Term shall be prorated according to that portion of such Comparison Year as to which Lessee is responsible for a share of such increase.