Maximum Monthly Rent definition

Maximum Monthly Rent means the monthly rent agreed to by the Owner and a Qualified Renter to rent a Rental Unit which shall not exceed thirty percent (30%) of the total monthly Income of the Qualified Renter at the time the Rental Unit is occupied by the Qualified Renter;
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Maximum Monthly Rent means the monthly rent agreed to by the Owner and a Qualified Renter to rent an Affordable Housing Unit which shall not exceed 30% of the total combined monthly gross household income of the Qualified Renter(s) at the time the Affordable Housing Unit is occupied by the Qualified Renter(s), except in the case of an Affordable Market Unit;
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Maximum Monthly Rent means the monthly rent agreed to by the Owner and a Qualified Renter to rent a Rental Unit provided the monthly rent is not more than forty percent (40%) of the monthly Income of the persons who will occupy the Rental Unit;
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Examples of Maximum Monthly Rent in a sentence

  • BMR Rental Units currently being marketed may adjust their Maximum Household Income used for qualifying applicants, but not for establishing the Maximum Monthly Rent, as new Maximum Household Income levels are published by MOH at the beginning of each calendar year.

  • Permissible Rent Increases for BMR Rental Units The Project Owner shall adjust (up or down) the Maximum Monthly Rent allowed for each BMR Renter on each anniversary of a BMR Renter’s occupancy in an amount that does not exceed the amount determined by MOH based on the percent of median income established in Use Restrictions.

  • The material terms of the lease shall not change from year to year but for the Maximum Monthly Rent level.

  • Prior to marketing a BMR Unit for initial rental, the Project Sponsor shall transmit a copy of the Notice of Special Restrictions (“NSR”), final planning approval and approved floor plans indicating the location of the BMR Units in the building to MOH, together with a request for determination of initial Maximum Monthly Rent on a form provided by MOH.

  • It is strictly forbidden to contact a child outside of the predefined framework of a project, for motives other than professional or through different means than predefined with children and within the project proposal.

  • Methodology for Establishing Maximum Monthly Rent Levels upon Re-rental of BMR Rental Units Rental rates for Qualified Renter Households shall not exceed the applicable amounts published in accordance with the provisions of Section II (C) of this Manual.

  • Methodology for Establishing Maximum Monthly Rent Levels for BMR Rental Units MOH shall calculate initial rent levels of the BMR Rental Unit according to the following assumptions: (1) the income limits specified in Use Restrictions; (2) total payments of no more than thirty (30) percent of gross monthly income, based on the income limits required by Use Restrictions (and not based on an individual Household’s income); and (3) a Utility Allowance reduction where applicable.

  • MOH shall require the completion of a standard form in order to request BMR Unit Maximum Monthly Rent levels.

  • In the case of renters using a Section 8 Voucher, Project Owners may collect the fully allowed rental reimbursement amount from the Housing Authority but shall not charge the tenant a rent higher than the Maximum Monthly Rent established by MOH.

  • Increases to the line item quantities and the addition of new line items have been incorporated into the new bid.


More Definitions of Maximum Monthly Rent

Maximum Monthly Rent means an amount determined pursuant to 68 RCNY § 10-05 that the rent for a CityFHEPS unit can generally not exceed during the first year of CityFHEPS rental assistance, and from which the CityFHEPS rental assistance payment amount is calculated.
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Maximum Monthly Rent shall have the meaning stated be defined as set forth in Section 2.2 below.
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Maximum Monthly Rent means the monthly rent agreed to by the Owner and a Qualified Renter to rent an Affordable Housing Unit which shall not exceed the lesser of the current Province of BC Shelter Allowance rate for Regional Housing First Program (RHFP) designated units during the term of
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Related to Maximum Monthly 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.

  • 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.

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

  • 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.

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

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

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

  • 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;

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

  • 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.

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • 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

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

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

  • 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.

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

  • Past Due Rent Payment is defined in Section 2.2(g).

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

  • 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.

  • 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).

  • Maximum Cap Rate For any Distribution Date with respect to the Group I Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group I Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group II Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group II Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current Certificate Principal Balance of the related Class A Certificates) of the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans and the Group II Mortgage Loans, in each case, weighted on the basis of the outstanding Stated Principal Balances of the related Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12.

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

  • 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.

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

  • 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.

  • 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.