Affordable Rental Unit definition

Affordable Rental Unit means a Rental Unit for which the Monthly Rent, plus Utilities, at the time the Mayor received the Offer of Sale, was equal to or less than the Maximum Rent for a Rental Unit at the fifty percent (50%) MFI Level.

Affordable Rental Unit means a dwelling unit in an eligible

Affordable Rental Unit means a Dwelling that is rented to an Eligible Tenant at Affordable Rent; (d)“Agreement” means this agreement and includes all recitals, instruments, schedules, and amendments thereto;

Examples of Affordable Rental Unit in a sentence

• Affordable Rental Unit - an Affordable Housing unit required to be rented to an Eligible Household.

• For an Affordable Rental Unit, the monthly rent payment, including utilities and parking, shall not exceed 30 percent of the maximum monthly income permissible for an Eligible Household, assuming a family size equal to the number of bedrooms in the unit plus one, unless other affordable program rent limits approved by the DHCD shall apply.

• The income level to which each Affordable Rental Unit is restricted is set forth in the Affordable Housing Participation Agreement or comparable deed restrictions recorded against the rental property.

• The monthly rent payment for an Affordable Rental Unit, including utilities and parking, shall not exceed thirty percent (30%) of the maximum monthly income permissible for an Eligible Household, assuming a household size equal to the number of bedrooms in the unit plus one, except in the event of an Eligible Household with a Section 8 voucher in which case program rent limits shall apply.

• For an Affordable Rental Unit, the monthly rent payment, including applicable utility allowances, shall not exceed 30 percent of the maximum monthly income permissible for an Eligible Household, assuming a family size equal to the number of bedrooms in the unit plus one, unless another affordable housing program methodology for calculating rent limits, as approved by DHCD, applies.

More Definitions of Affordable Rental Unit

Affordable Rental Unit means a Unit that is rented to an Eligible Tenant Household at an Affordable Rent.

Affordable Rental Unit means either the ADU or the remainder of the Home that is rented to an Eligible Tenant Household at an Affordable Rent.

Affordable Rental Unit means Residential Dwelling Units to be constructed on Block F of the University Endowment Lands or on an airspace parcel subdivided out of Block F that are available for rent at an Affordable Rental Rate;

Affordable Rental Unit means a dwelling let by Local Authorities or Registered Providers of social housing to households who are eligible for social rented housing and is subject to rent controls that do not exceed 80% of the rent that would have been charged had the rent been valued on an open market basis inclusive of any service charges

Affordable Rental Unit means a Dwelling Unit within the Development that are to be used and occupied in accordance with Sections 2.1 and 2.2 of this Agreement;

Affordable Rental Unit means each Rental Unit that is owned or operated by any government agency, or any individual Rental Unit for which the Rent is limited to no more than affordable rent, as such term is defined in California Health & Safety Code Section 50053, for lower income households pursuant to legally binding restrictions recorded for the benefit of a government agency. However, if the ownership or operation, or the Rent limitation ceases, then the Rental Unit will no longer be considered an Affordable Rental Unit. The presence of one or more Affordable Rental Units in a Multiple Dwelling shall not exempt any other Rental Unit in the same building that does not also meet the definition of Affordable Rental Unit.

Affordable Rental Unit has the meaning given to that term in section 3.1(a);