Rent Restriction Clause Samples
A Rent Restriction clause limits the amount by which rent can be increased during the term of a lease. Typically, it sets a maximum percentage or a fixed amount by which the landlord may raise the rent, often tied to an index such as inflation or a specific schedule. This clause provides tenants with predictability regarding future rental costs and protects them from sudden or excessive rent hikes, thereby ensuring affordability and financial planning stability.
Rent Restriction. Section 34.01 If at the commencement of, or at any time(s) ------------- during the term of this Lease, the Rent(s) reserved in this Lease shall not be fully collectible by reason of any Federal, State, County or local law, proclamation, order or regulation, or direction of public officer or body pursuant to law, Tenant shall enter into such agreement(s) and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of the term of this Lease, (a) the rents shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination and (b) Tenant shall pay to Landlord, if legally permissible, an amount equal to the rents which would have been paid pursuant to this Lease but for such legal rent restriction less the rents paid by Tenant to Landlord during the period(s) such legal rent restriction was in effect.
Rent Restriction. The Owner shall not rent or otherwise Lease the Home to another party, unless such rental or Lease is to an Eligible Proximity Workforce Household. Owner shall provide the County with notice of any rental or Lease of the Home to an Eligible Proximity Workforce Household which notice shall include information necessary for the County to determine the Household's status as an Eligible Proximity Workforce Househol. Any rental or Lease of the Home to anyone other than an Eligible Proximity Workforce Household is prohibited and shall constitute a Default by Owner and the County may then exercise any of the remedies set forth in Section 9.2 below.
Rent Restriction. From the date the certificate of occupancy for the improvements to be constructed on the Property is issued, and thereafter for the remainder of the Term, the Owner shall charge rent to the tenants of the Property of no more than thirty percent (30%) of their gross monthly income. The rent charged shall take into account and follow the provisions for rent and utilities as specified in the HUD HOME regulations 24 CFR Part 92.525.
Rent Restriction. Initial Rents - the Agency shall establish a rent schedule for the Project that complies with the HUD established HOME rent limit affordability requirements of 24 CFR Section 92.252. The maximum HOME rent limits are recalculated on a periodic basis after HUD determines fair market rents and median incomes. The Agency shall provide to the City for its review and approval, a rent schedule for the Project that does not exceed the current HUD established HOME rent limits, and that identifies the monthly allowances for tenant paid utilities and services (excluding telephone), prior to the commencement of marketing or initial occupancy. Current HOME Rent Limits can be found at: ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇/manage-a-program/home-rent-limits/ From the Effective Date for the Project, the Agency shall charge only those rents approved by the City and established pursuant to federal, state and HOME Program statutes and regulations; provided that in no event will such rents exceed the maximum rent permitted under Internal Revenue Code Section 42 and the regulations thereunder. In determining maximum allowable rents and utility allowances, the Agency shall comply with the 2013 HOME Final Rules issued by HUD, and referenced in the Rules and Regulations in the Federal Register, Vol. 78, No. 142, July 24, 2013. Rents for the HOME-Assisted Units shall not exceed thirty percent (30%) of the income of the target population to be served in that unit, as stated in Exhibit A. Maximum rents are determined by the number of bedrooms in each unit minus the monthly allowance for utilities (excluding telephone, cable television and other telecommunications), paid by the tenant.
Rent Restriction. Throughout the term of this Restrictive Covenant, each Restricted Unit shall be rented only to a Qualified Occupant earning at or less than 100% AMI, except as provided in section 4.B., above, to be used by such Qualified Occupant as their primary residence. The monthly rental rate charged to each Qualified Occupant shall not exceed the Colorado Housing and Finance Authority (“CHFA”) limits for Mesa County for the 100% AMI group as published in CHFA’s annual Income Limit and Maximum Rent Tables for All Colorado Counties.
Rent Restriction. No Unit Owner may, except with prior written approval of the County and subject to the County’sconditions of approval, rent his or her Unit for any period of time. Prior to occupancy, any tenant must be approved by the County as a Qualified Resident, and by the Association if required by its bylaws. Except as provided below, the County shall not approve any Unit rental if such rental is being utilized by the Unit Owner as an income producing asset. Leases shall be approved in advance by the County Housing Director and shall be for a term of at least three (3) consecutive months in duration. A signed copy of the lease must be provided to the County prior to occupancy by any tenant.