Ceiling Rent definition
Ceiling Rent means in respect of Social Rented Dwellings, the total weekly sum payable in rent which sum shall be limited to Homes England’s Target Rents for social rented accommodation in Torbay or successor regime approved by the Affordable Housing Manager
Examples of Ceiling Rent in a sentence
Flat and Ceiling Rent amounts already represent the deduction of a Utility Allowance.
If a resident is granted a reduction in rent between annual re-examinations, the resident is then subject to an Interim increase in rent if the household’s income increases, although such an Interim increase will not exceed the Ceiling Rent, which is equal to the flat rent plus the Utility Allowance applicable to the Resident’s unit.
Flat Rent and Ceiling Rent are a market-based rent that reflects the age, size, location, condition and amenities of each of PHA’s developments.