Median Market Rent definition

Median Market Rent means the median monthly rents by unit type as determined in the annual fall survey of rents for the prior calendar year published by the CMHC. If median market rents are not made available, the average market rents may be used or other rents as determined by the Region;
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Median Market Rent means the median monthly rents by unit type as determined in the annual fall survey of rents for the prior calendar year published by the CMHC. If Median Market Rents are not made available, the average market rents may be used or other rents as determined by the Region;
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Median Market Rent means the residential rent or payment rate in the community where the Lands are located, as determined on an annual basis by the Canada Mortgage and Housing Corporation’s annual rental market survey, or in the case of rural communities, refer to the annual Apartment Vacancy and Rental Cost survey prepared by the Government of Alberta, or equivalent;
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Examples of Median Market Rent in a sentence

  • Immediately increase Rent Assist’s maximum benefit to 75 percent of Median Market Rent for people on and off Employment and Income Assistance (EIA) without cutting other income-related benefits, and index the benefit to annual increases in the Median Market Rent.1-3.

  • For instance, the Median Market Rent Estimate does not differentiate rents by dwelling unit size.

  • Subsequent to initial recognition, these positions are measured at amortized cost with any difference between cost and redemption value being recognized in the Income statement over the period of the loan, using the effective interest method.

  • Where no affordability criteria exist, affordability for rental housing is based on the Median Market Rent (MMR).

  • Table H 3-19 Fair Market Rents, Sacramento Metropolitan AreaSource: HUD, The Final FY 2012 FMRs for All Bedroom Sizes, 2012.1 Median Market Rent for December 2012 from Zillow.com.

  • I advised the Accounting Officer to ensure adequate supervision by officers responsible and also ensure continued site visits for projects.

  • Unless otherwise provided by a By-law enacted pursuant to section 3 of this By-law, where the Median Market Rent is under 120%, available Affordable Housing Units subject to a Municipal Housing Project Facilities Agreement shall be made available first to eligible Households on the Waiting List.

  • Rent AssistIn 2017/18 more than $7.0 million was invested to increase maximum Rent Assist benefits to maintain 75 per cent of Median Market Rent.

  • Rent Assist benefits will reach the target of 75% of Median Market Rent by December 2015.

  • As illustrated, a new HUD-commissioned RCS will be required if owner’s comparable gross rent potential exceeds $2,800 and it also exceeds 105 percent of the current HAP rents.RCS Rent submitted by owner ACS-based Median Market Rent for Zip Code $2,800 $2,000+$3,000 $2,000+$3,000 $2,000+TEST 1: Does RCS Rent Exceed 140% ofIs $2,800 > $2,800?Is $3,000 > $2,800?Is $3,000 > $2,800?Results of Test 1If "NO", RCS Rent prevails.


More Definitions of Median Market Rent

Median Market Rent means the middle value of all monthly rents paid, inclusive of essential utilities, when placed in order of value for a designated market area and by unit type, as further set out in Appendix “D”.
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Median Market Rent means the rent for the specific Housing Unit type as determined by the most recent Canada Mortgage and Housing Corporation's annual Rental Market Survey (for Alberta urban communities with populations over 10,000), or Alberta's Apartment Vacancy and Rental Rate survey (for rural communities with populations between 1,000 and 10,000) for the municipality where the Project is located. If the municipality is not listed, then the median market rent for the next closest community included in the survey applies;
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Median Market Rent or “MMR” means the rent for the specific Housing Unit type as determined by the most recent Canada Mortgage and Housing Corporation's annual Rental Market Survey (for Alberta urban communities with populations over 10,000), or Alberta's Apartment Vacancy and Rental Rate survey (for rural communities with populations between 1,000 and 10,000) for the municipality where the Project is located. If the municipality is not listed, then the MMR for the next census metropolitan area included in the survey applies;
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Median Market Rent or “MMR'' means the median monthly market rent for a rental housing unit, by unit type, as published by CMHC for the London CMA
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Median Market Rent or “MMR'' means the median monthly market rent for a rental housing unit,
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Median Market Rent means the median, or midpoint, value for rent in a particular geographic area, as defined by CMHC in the annual Rental Market Survey.
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Related to Median Market Rent

  • Market Rent the yearly rent at which the Premises might reasonably be expected to be let on the open market on the Rent Review Date, on the terms of the Hypothetical Lease and applying the Assumptions and the Disregards.87 Rent review On the Rent Review Date, the Main Rent is to be reviewed to the higher of: the Main Rent reserved immediately before the Rent Review Date; and the Market Rent. The reviewed Main Rent will be payable from and including the Rent Review Date. Dispute resolution The Market Rent at the Rent Review Date may be agreed between the Landlord and the Tenant. If they have not done so (whether or not they have tried) by [the date three months before] the Rent Review Date, either the Landlord or the Tenant can require the Market Rent to be decided by an independent [expert/arbitrator].88 If the Landlord and the Tenant do not agree on who should decide the Market Rent, the [expert/arbitrator] will be appointed by the President of the Royal Institution of Chartered Surveyors on the application of either the Landlord or the Tenant. [The arbitration must be conducted in accordance with the Arbitration Act 1996.][The expert will:] [invite the Landlord and the Tenant to submit to him a proposal for the Market Rent with any relevant supporting documentation; give the Landlord and the Tenant an opportunity to make counter submissions; give written reasons for his decisions, which will be binding on the parties; and be paid by the Landlord and the Tenant in the shares and in the manner that he decides (or failing a decision, in equal shares).] The [expert/arbitrator] must be an independent chartered surveyor of not less than ten years’ standing who is experienced in the rental valuation of property similar to the Premises and who knows the local market for such premises. If the [expert/arbitrator] dies, becomes unwilling or incapable of acting or it becomes apparent for any other reason that he will be unable to decide the Market Rent within a reasonable time, he may be replaced by a new [expert/arbitrator] who must be appointed on the terms set out in this paragraph 3. Responsibility for the costs of referring a dispute to an [expert/arbitrator], including costs connected with the appointment of the [expert/arbitrator] but not the legal and other professional costs of any party in relation to a dispute, will be decided by the [expert/arbitrator] and failing a decision, they will be shared equally between the parties. Consequences of delay in agreeing the revised rent If, by the Rent Review Date, the reviewed Main Rent has not been ascertained, then: the Main Rent reserved under this Lease immediately before the Rent Review Date will continue to be payable until the reviewed Main Rent has been ascertained; following the ascertainment of the reviewed Main Rent, the Landlord will demand the difference (if any) between the amount the Tenant has actually paid and the amount that would have been payable had the Main Rent been ascertained before the Rent Review Date; and the Tenant must pay that difference to the Landlord within 10 Business Days after that demand and interest at three per cent below the Interest Rate calculated on a daily basis on each instalment of that difference from the date on which each instalment would have become payable to the date of payment. If not paid those sums will be treated as rent in arrear. Rent review memorandum When the Market Rent has been ascertained, a memorandum recording the Main Rent reserved on review must be entered into. The Landlord and the Tenant will each bear their own costs in relation to that memorandum. Time not of the essence For the purpose of this Schedule 2 time is not of the essence.89

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

  • Renewal Term has the meaning set forth in Section 2.

  • Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.

  • Gross Fair Market Value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.