Maximum Annual Rent definition

Maximum Annual Rent means (a) for each Rental Payment Period, $21,042,228, provided that if Facilities are released upon the expiration of the respective term of such Facilities in accordance with Section 2.02 of the Facilities Lease, such amount shall be reduced to (i) $17,274,057 after June 1, 2018, (ii) $15,942,466 after June 1, 2023 and (iii) $13,836,267 after June 1, 2026, or, (b) if the fair rental value of the Facilities has changed after the Effective Date (other than as described in (a) above), including through the substitution, release or addition of real property pursuant to Section 2.03 of the Facilities Lease, the fair rental value of the Facilities for such Rental Payment Period as determined by a written appraisal of an independent appraiser or as otherwise reasonably determined by the County in accordance with the Facilities Lease.
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Maximum Annual Rent means the maximum rent that a housing developer
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Maximum Annual Rent means (a) for each Rental Payment Period, $8,037,050.23 or,
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Examples of Maximum Annual Rent in a sentence

  • The Maximum Annual Rent for a BMR Rental Unit is set assuming a Household size and income level that follows Planning Code and HUD rules.

  • The Project Owner may require a minimum income for BMR Renters but must not require any applicant to have a minimum Gross Income of more than 2 times the annual Maximum Annual Rent.

  • The material terms of the lease shall not change from year to year, except for the Maximum Annual Rent and other changes required or approved by MOHCD.

  • A legal document called a Notice of Special Restrictions (NSR) includes the specific income level for calculating the Maximum Annual Rent that may be charged for each BMR Unit.

  • If an applicant is using a rent subsidy such as a Housing Choice Voucher, the minimum Gross Income will be based on the BMR Renter’s monthly share of rent rather than the Maximum Annual Rent amount, which will be partially covered by the voucher.

  • Such fees will be allowed only if applied to all renters in the Project and only if the fees or rent do not increase the Maximum Annual Rent under the Program.Certain optional fees may be allowed outside of the Maximum Annual Rent, such as a pet fee, but only if approved by MOHCD through the Marketing Plan and Resident Selection Criteria review.

  • MOHCD uses three Maximum Annual Rent levels for BMR Rental Units to distinguish between the utilities included in a tenant’s monthly rent payment and those utilities the BMR renter pays directly to the utility provider because the unit is individually metered or submetered; and the utility provider is able to track individual unit consumption.

  • In Projects where parking is included in the sales price or monthly rent amount of a market rate unit, then parking spaces must also be granted to BMR Owners or Renters within the Maximum Affordable Purchase or Maximum Annual Rent.

  • The amount of rent charged cannot exceed the published Maximum Annual Rent without utilities.

  • Project Sponsors must provide MOHCD with documentation that demonstrates that the rental subsidy amount is limited to the Maximum Annual Rent.


More Definitions of Maximum Annual Rent

Maximum Annual Rent means the maximum rent that a housing developer may charge any tenant occupying an affordable unit for the calendar year. The maximum annual rent for an affordable housing unit of the size indicated below shall be no more than 30 percent of the annual gross income for a household of low income as defined in this Section, as adjusted for the
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Maximum Annual Rent means, for each Rental Payment Period, [$ ] or, if the fair rental value of the Facilities has changed after the Effective Date, including through the release of Facilities pursuant to Section 2.02 of the Facilities Lease or the substitution, release or addition of real property pursuant to Section 2.03 of the Facilities Lease, the fair rental value of the Facilities for such Rental Payment Period as determined by a written appraisal of an independent appraiser or as otherwise reasonably determined by the County in accordance with the Facilities Lease.
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Maximum Annual Rent means an amount equal to $ or, if the Purchaser delivers an appraisal to the City pursuant to and meeting the requirements of Section 4.10 of the General Sublease Agreement and Section 2.02 hereof, the Appraised Fair Rental Value.
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Maximum Annual Rent means £175,000.
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Related to Maximum Annual Rent

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

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • 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.

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

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

  • 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.

  • Minimum Rent means the sum of Thirty-Three Million, Six Hundred Seventy-Nine Thousand, Seven Hundred Sixteen and 55/100 Dollars ($33,679,716.55) per annum.

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • 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.

  • 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).

  • 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.

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

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

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

  • 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.

  • Rental Rate means the average annualized composite rate for United States treasury bonds issued for periods of ten years and longer plus two percent. The rental rate shall not exceed ten and three-quarters percent nor fall below eight and one-quarter percent.

  • 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);

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

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Minimum Royalty has the meaning set forth in Section 4.4(c).

  • 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.

  • Advance Rent means moneys paid to the landlord to be applied to future rent payment periods, but does not include rent paid in advance for a current rent payment period.

  • Rent Expense means, for any Person for any period of determination, such Person’s operating lease expense computed in accordance with GAAP, including, without limitation, all contingent rentals, but excluding all common area maintenance expenses.