Rent Differential Payment definition

Rent Differential Payment means the difference between the lawful Rent that the Tenant was paying at the time of displacement and the fair market rent, as established by the payment standards for the Sectiom 8 Housing Choice Voucher Program in the City of Richmond based on rental market information published each year by the U.S. Department of Housing and Urban Development, for a comparable Rental Unit based on the number of bedrooms.
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Rent Differential Payment means the difference between the lawful Rent that the Tenant was paying at the time of displacement and the fair market rent, as established by the Richmond Housing Authority as the payment standards for the Housing Choice Voucher Program, for a comparable Rental Unit based on the number of bedorooms.
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Rent Differential Payment means the difference between the lawful Rent that the Tenant was paying at the time of displacement and the fair market rent, as
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Examples of Rent Differential Payment in a sentence

  • If you would prefer to negotiate a buy out with SFCM in lieu of accepting (i) a Temporary Replacement Unit or the Rent Differential Payment; and (ii) the right to rent an apartment at the newly constructed project, SFCM is willing to negotiate a buy out on terms to be mutually agreed upon by you and SFCM.

  • All Existing Tenants who remain in good standing pursuant to their rental agreement or lease with SFCM until completion of construction of the new Project and Existing Tenants who elect to receive the Rent Differential Payment will be offered a new permanent replacement unit in the Replacement Housing Element of the Project ("Permanent Replacement Units").

  • Existing Tenants electing to receive the Rent Differential Payment rather than moving to Temporary Replacement Units are responsible for keeping SFCM informed of their contact information for purposes of receiving the Rent Differential Payments and providing notices of availability of the Replacement Housing in the Project.

  • SFCM cannot guaranty that Existing Tenants who elect the Rent Differential Payment at the commencement of construction will have the option during construction to change their election and move to a Temporary Replacement Unit.

  • The Land Rent Differential Payment shall be calculated by ILPCS within ten (10) days of the Final Closing and promptly confirmed by Purchaser, and shall thereafter be paid monthly on the same day of the month as the Tower Rent payments are due, with the first such payment being due in the month following the month in which the Final Closing occurs.

  • If the Existing Tenants cannot agree upon the option, the entire household will be offered the Rent Differential Payment.

  • In the event the Estimated Average Rent shall exceed the Actual Average Rent, the Land Rent Differential Payment shall be paid by Purchaser to ILPCS.

  • The Rent Differential Payment and the Pro-Rated Rent may be adjusted in the event that the Effective Date is changed, as mutually agreed by the parties.

  • SFCM shall make the Rent Differential Payment to the Existing Tenant on a monthly basis unless otherwise approved by the City.

  • Existing Tenants electing the Rent Differential Payment will also receive Moving Expenses as defined below.


More Definitions of Rent Differential Payment

Rent Differential Payment means the amount by which the tenant’s monthly rent obligation at an interim housing location (including a utility allowance for those utilities paid by the tenant consistent with the monthly rate established by the Detroit Housing Commission) exceeds the Current Rents (including utility allowances as described in this definition).
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