Examples of Operating and Maintenance Expense in a sentence
Where a landlord Operating and Maintenance Expense petition to 19 increase base rent is granted, based upon a petition pending or filed on or after October 28, 20 2003 for a property with six or more residential units, the same landlord shall not impose more 21 than a total seven percent (7%) base rent increase on any unit in any five (5) year period due to 22 increases in operating and maintenance costs.
Calculation consistent with last rate proceeding.In absence of a rate proceeding, Class A utilities will use the Balance Sheet Method and Class B Utilities will use the One-eighth Operating and Maintenance Expense Method.
The majority of the depreciation and amortization (non-cash) expenses included in Operating and Maintenance Expense are for amortization of conservation expenses that are recognized over a 20-year period.
Operating and Maintenance Expense increases shall be based on actual costs 23 incurred by the landlord, prorated on a monthly basis where appropriate, allocated over the 24 period of time the services were substantially rendered and/or the costs were substantially 25 incurred in a manner that allows a fair comparison between Year 1 and Year 2.
Notwithstanding the provisions of (4)(A), the landlord’s failure to file the 7 Operating and Maintenance Expense petition within three years of the date of its purchase of the 8 property shall raise a rebuttable presumption that the landlord did not reasonably rely on the 9 ability to pass through the increase in debt service and/or property taxes to the tenants at the 10 time of purchase.
Calculation of the Current Operating and Maintenance Expense to Income RatioEach year the Board estimates the current average proportion of the rent roll which owners spend on operating and maintenance costs.
Calculating of the Current Operating and Maintenance Expense to Rent Ratio Each year the Board estimates the current average proportion of the rent roll which owners spend on operating and maintenance costs.
The City will pay all Operating and Maintenance Expense and otherwise meet the obligations of the City as herein set forth.
The City Council declares that in fixing the amounts to be paid into the Bond Fund under this ordinance it has exercised due regard for Operating and Maintenance Expense and has not obligated the City to set aside and pay into the Bond Fund a greater amount of Gross Revenue of the Utility System than in its judgment will be available over and above such Operating and Maintenance Expense.
Prior to depositing amounts into the Fund in a given fiscal year, all obligations related to Operating and Maintenance Expense, Bond Parity Obligations or other debt, and Gross Earnings Tax must first be met.