Rental Assistance definition

Rental Assistance or “Subsidy” means Gross Rent minus the sum of the utility allowance and the Eligible Household’s payment of 30% of their monthly net income.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Rental Assistance means a voucher, operating subsidy, or privately funded assistance that provides the difference between the monthly rental rate and the tenant’s contribution of thirty percent (30%) of their income (after certain deductions are taken out) to pay for rent and utilities combined. Examples of Rental Assistance include the following federal programs: Section 8 Project-Based Vouchers, Section 8 HAP Contracts, Public Housing, HUD 202 and HUD 811 Supportive Housing Programs for the Elderly and for People with Disabilities, Housing Opportunities for People with AIDS/HIV (“HOPWA”), McKinney-Vento permanent housing programs for the homeless, USDA Section 514/515 rental assistance and USDA Section 521 Rural Rental Assistance program. Other privately and governmentally funded programs that provide the same level of assistance to a Project as the federal programs specified in the prior sentence are also Rental Assistance. If privately funded, Applicant must substantiate a minimum of three (3) years of providing Rental Assistance in other Projects. In order to be acceptable to ADOH, privately funded Rental Assistance must include sufficient resources to pay seventy-five percent (75%) of the total pro-forma gross rent for every Unit for which Rental Assistance is claimed in the Application for the entire Compliance Period, and if federally funded, through the Period of Affordability for the HOME funds. The Applicant shall provide evidence that the Rental Assistance meets this definition.

Rental Assistance means the provision of housing vouchers to provide Homelessness Prevention, transitional or Permanent Housing to eligible persons.

Examples of Rental Assistance in a sentence

• To date, Florida has received all of the distributions for the State Fiscal Recovery Fund ($8,816.6 million), Local Fiscal Recovery Fund ($1,416.4 million), and the Homeowners Assistance Fund ($676.1 million), and a partial distribution for Emergency Rental Assistance ($296.2 million).

• If the (program administrator) determines that the Landlord is not entitled to any payments received, in addition to other remedies, the (program administrator) may deduct the amount of the overpayment from any amounts due the Landlord, including the amounts due under any other Rental Assistance Coupon Contract.

• HUD's Tenant Rental Assistance System (TRACS) compares the transmitted voucher information to HUD data on file.

• As a condition to making the Funding Loan, Funding Lender has required Borrower to establish the Rental Assistance Contract Reserve to ensure that adequate funds are available for, among other things, payment of any Projected Deficit.

• Funding Lender will first apply the funds in the Rental Assistance Contract Reserve as required to pay the Indebtedness and other sums when due and will thereafter release such funds to Borrower as are necessary for the operation of the Mortgaged Property.

More Definitions of Rental Assistance

Rental Assistance means Section 8 Vouchers, Vash Vouchers or privately funded assistance. If privately funded, Applicant must substantiate a minimum of three years of providing rental assistance in other Projects including documentation that the proposed privately funded assistance is available and sustainable through the Compliance Period.

Rental Assistance means cash payments to compensate for unpaid rent provided to the landlord by any federal, State, county, or local rental assistance program.

Rental Assistance means cash payments to compensate for

Rental Assistance means financial assistance to rent tem- porary housing accommodations while a survivor is displaced from a primary residence.

Rental Assistance. (also known as housing assistance or subsidy) means the amount HUD pays the PHA or private owner for a unit occupied by a tenant assisted under one of PIH’s or MF Housing’s assistance programs. It includes HUD’s share of the contract rent and any utility reimbursement due to the tenant.

Rental Assistance means the FCHI-2 rental assistance as outlined under Schedules “B” and “D” of this Agreement, which corresponds to the difference between the Occupancy Charge and the Rent-Geared-to-Income charged to the Assisted Household.

Rental Assistance means no less than ninety-one days and no more than twenty-four months of assistance to help homeless families with children and other populations described in RCW 43.185C.210(1) pay the cost of rent and utilities for amounts that are consistent with local practices.