Allocable rent definition
Allocable rent means, for any period with respect to any Functional Unit as of any date of determination, the sum of the portions of the principal component of each payment of Rent required to reduce the Functional Unit Balance of such Functional Unit to the amount specified in Schedule IV of the applicable Lease Supplement as of each Payment Date, plus interest that would accrue during the relevant period on such principal amount at the Interest Rate.
Allocable rent means for any housesite and for any taxable year 21
Allocable rent means for any housesite and for any taxable year 21 percent of the gross rent. "Gross rent" means the rent actually paid during the taxable year by the individual or other members of the household solely for the right of occupancy of the housesite during the taxable year. "Allocable rent" shall not include payments made under a written homesharing agreement pursuant to a nonprofit homesharing program, or payments for a room in a nursing home in any month for which Medicaid payments have been made on behalf of the claimant to the nursing home for room charges. "Fair market rent" means the fair market rent for the county in which the claimant resides, as determined by the U.S. Department of Housing and Urban Development