Examples of Fair Market Rate in a sentence
HUD Fair Market Rent (FMR) Methodology HUD Fair Market Rate (FMR) Method - This method uses HUD FMR rental amounts as a proxy for housing costs.
If Landlord disagrees with Tenant’s opinion of the Fair Market Rate, Landlord shall notify Tenant of Landlord’s opinion of Fair Market Rate within fifteen (15) days after receipt of Tenant’s opinion of Fair Market Rate (“Landlord’s Value Notice”).
Within thirty (30) days of Option Notice, Tenant shall notify Landlord of Tenant’s option of Fair Market Rate for the applicable renewal period.
Rent:Maximum rent is based on the appropriate Fair Market Rate (FMR) (based on the number of bedrooms excluding rooms occupied by live-in service providers) divided by the number of bedrooms excluding rooms occupied by live-in service providers.
HUD’s Fair Market Rate for a one- bedroom apartment in the City far exceeds that figure, leaving subsidized housing as the only option, other than sub-standard housing, for this community.