Rental Cap Clause Samples
A Rental Cap clause sets a maximum limit on the number or percentage of units within a property or community that may be rented out at any given time. Typically found in condominium or homeowners association agreements, this clause restricts owners from leasing their units once the cap is reached, often requiring them to join a waiting list for rental approval. The primary purpose of a Rental Cap is to maintain a balance between owner-occupied and rental units, which can help preserve property values, ensure community stability, and comply with lending requirements.
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Rental Cap. During the Term, including any extension thereof, the total number of Systems Ones (i.e. ▇▇▇-▇▇-▇▇▇, ▇▇▇-▇▇-▇▇▇, ▇▇▇▇▇▇-▇-▇▇▇, ▇▇▇▇▇▇-▇-▇▇▇ or FW-X00-MTM) that Customer may rent from NxStage shall not exceed [**] (the “Rental Cap”) of the aggregate number of System Ones (i.e. NXS-03-PUR or NXS-02-PUR) (less any returns) that Customer purchased from NxStage from the Effective Date through the date of any calculation of the Rental Cap. The minimum rental period for any System must be for [**] full [**]. All rentals of Systems will be billed at the start of the calendar month. All rentals of a System will be automatically extended on a month-to-month basis until [**] days advance written cancellation notice is provided by Customer to NxStage.
Rental Cap. The maximum affordable monthly rent of this ADU shall be limited to % of the current years Summit County Area Median Income for rentals as published by HUD.
Rental Cap. Landlord and Tenant agree that Landlord’s Investment shall not exceed $14,300,000.00 (“Maximum Landlord’s Investment”). The current estimate of Landlord’s Investment, including the complete current estimate of the Cost of the Work (“Estimated Cost of the Work”), is attached to the Work Letter attached as Exhibit B to this Lease.