Permitted Rent definition

Permitted Rent means the monthly rent that the Grantor may charge an Eligible Tenant for an Affordable Unit, which monthly rent shall not exceed 1/12 of 30% of the Eligible Tenant(s) collective before-tax annual income;

Permitted Rent means therent for each particular Affordable Housing Unit Tier 1 and each Affordable Housing Unit Tier 2, which Permitted Rent shall not exceed:

Permitted Rent means, with respect to an Employee Unit, a monthly rent of no greater than:

Examples of Permitted Rent in a sentence

• Following occupancy of the building, the Owner must provide the City with a statutory declaration in the form attached hereto as Schedule A-1 on the first business day of January each year, that declares that the Permitted Rent of the Affordable Rental Units and the Income Thresholds of the Income Tested Tenants who hold Tenancy Agreements for the Affordable Rental Units all meet the requirements found within this Housing Agreement.

• The Owner agrees that, in addition to any other remedies available to the City under this Agreement or at law or in equity, if a Dwelling Unit is used or occupied in breach of this Agreement, if an Dwelling Unit is rented at a rate in excess of the Permitted Rent or the Owner imposes in respect of any tenancy of a Dwelling Unit any fee or charge of whatsoever nature other than Permitted Tenant Charges, the Owner will pay the Excess Charges to the City.

• The Owner agrees covenants and agrees that Tenants of the Affordable Rental Units must not be charged rent in excess of the Permitted Rent, excluding Permitted Tenant Charges.

More Definitions of Permitted Rent

Permitted Rent means the maximum rent set out in Schedule B of this Agreement in respect of the Affordable Rental Units in question;

Permitted Rent means no greater than (exclusive ofGST):

Permitted Rent means the rent for each Affordable Housing Unit, which Permitted Rent shall not exceed 90% of the Market Rent;

Permitted Rent means the rent for each particular Below-Market Housing Unit, which Permitted Rent shall be set at least fifteen (15%) percent below Market Rent;

Permitted Rent means the rent for each particular Non‐Market Housing Unit which is equal to either:

Permitted Rent means no greater than $1,480.00 (exclusive of GST) a month for a three (or more) bedroom unit, provided that, commencing January 1, 2019, the rents set-out above shall be adjusted annually on January 1st of each year this Agreement is in force and effect, by a percentage equal to the percentage of the increase in the CPI for the period January 1 to December 31 of the immediately preceding calendar year. In the event that, in applying the values set-out above, {00497112; 5 } Housing Agreement (Section 483 Local Government Act) Address: 4300, 4320, 0000 Xxxxxxxx Xxxx, and 4291, 4331, 4431, 0000 Xxxxxxxx Xxxx Application No. RZ I5-713048 Bylaw9681 Rezoning Consideration No. 13 the rental increase is at any time greater than the rental increase permitted by the Residential Tenancy Act, then the increase will be reduced to the maximum amount permitted by the Residential Tenancy Act. If there is a decrease in the CPT for the period January 1 to December 31 of the immediately preceding calendar year, the permitted rents set-out above for the subsequent year shall remain unchanged from the previous yeru:. In the absence of obvious error or mistake, any calculation by the City of the Permitted Rent in any particular year shall be final and conclusive;

Permitted Rent means $2.90 per square foot of Gross Floor Area for rental of an entire Employee Unit or $1000 per bedroom per month in the case of a shared living arrangement.