Maximum Allowable Rent definition

Maximum Allowable Rent as defined in Section 4.4.2.
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Maximum Allowable Rent or “MAR”) for each Rental Affordable Unit shall be determined through the use of one of the two following formulas: (a) MAR = (AMI * DAL * OSF * 30%) / 12 – MU (if the Household pays any Utility costs directly to the Utility providers) or (b) MAR = (AMI * DAL * OSF * 30%) / 12 (if all Utility costs are included in the rent payment to Owner) (“Rental Formula”), where:
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Maximum Allowable Rent is the maximum rental rate of a Rental Inclusionary Unit as determined pursuant to the IZ Implementation Regulations.
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Examples of Maximum Allowable Rent in a sentence

  • By execution of a lease for a workforce Housing Unit, the Developer shall be deemed to represent and warrant to the City, which may rely on the following, that: (i) based upon tenant supplied information, the Household is a Qualified Tenant, and (ii) the Developer is not charging the Workforce Housing Unit tenant more than the Maximum Allowable Rent.


More Definitions of Maximum Allowable Rent

Maximum Allowable Rent means the highest lawful rent amount that can be charged for a rental unit subject to rent stabilization.
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Maximum Allowable Rent. Maximum Allowable Rent is established annually by the Housing Authority for all unit categories within 60 days of the Riverside County Updated Income Limits being published. Effective August 1, 2019, households will receive an adjustment in their rent annually at lease renewal. Renewal rents will adjust to the Maximum Rent for their unit category, or by 10%, whichever is less. In no case will rent adjustments exceed the Maximum Rent. This policy is separate and distinct from the Rent Reassignment Policy. If at annual income recertification and lease renewal a household goes over income for the unit category in which they reside, the procedures outlined in the Rent Reassignment Policy will prevail. Xxx Xxxx Deputy Executive Director
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Maximum Allowable Rent means the maximum amount of rent permitted to be charged a tenant for a mobilehome space under this chapter.
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Maximum Allowable Rent or "MAR") for each Rental Affordable Unit shall be an amount equal to the equivalent of the then current Maximum LIHTC Gross Rent for such category of Affordable Housing Unit (studio, one-bedroom, two-bedrooms, etc.) permitted to be charged by the Virginia Housing Development Authority by owners of projects in the City of Richmond, Virginia that are participating in the Federal Low-Income Housing Tax Credit (LIHTC) program, without allowance being provided for Utilities in the determination of such rents.
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Maximum Allowable Rent means the periodic amount which would be required to be paid by a family in a particular municipality for rent and utilities (except telephone), ranges, refrigerators and all maintenance, management and other services as determined by the Commissioner in order to obtain privately owned existing, decent, safe and sanitary rental housing.
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Maximum Allowable Rent means the maximum Rent the Landlord may charge for the use or occupancy of any Rent-Stabilized Unit.
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Related to Maximum Allowable Rent

  • Maximum allowable cost list means a list of drugs for

  • Maximum Applied Water Allowance (MAWA) means the upper limit of annual applied water for the established landscaped area as specified in Section 492.4. It is based upon the area's reference evapotranspiration, the ET Adjustment Factor, and the size of the landscape area. The Estimated Total Water Use shall not exceed the Maximum Applied Water Allowance. Special Landscape Areas, including recreation areas, areas permanently and solely dedicated to edible plants such as orchards and vegetable gardens, and areas irrigated with recycled water are subject to the MAWA with an ETAF not to exceed 1.0. MAWA = (ETo) (0.62) [(ETAF x LA) + ((1-ETAF) x SLA)]

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

  • Base Rent As defined in Section 3.1.

  • Utility Allowance means a monthly allowance, as provided by the local public housing authority or as otherwise allowed by HUD rules and the GLO rules, for utilities and services (excluding telephone services) to be paid by the tenant. Contextual Note: Unless the context clearly indicates otherwise, an above definition for a singular term shall also apply (where appropriate) to the plural form of such term and vice versa to the extent necessary for giving the proper meanings to the terms defined in this Article II and/or terms otherwise used in this Agreement.

  • Additional Rent means all sums of money, other than Base Rent, that shall become due from and payable by Tenant pursuant to this Lease.

  • Allowable Cost means a cost that complies with all legal requirements that apply to a particular federal education program, including statutes, regulations, guidance, applications, and approved grant awards.

  • 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.

  • Maximum Lawful Rate has the meaning set forth in Section 2.7.

  • 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.

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