Under the current system a Target Rent is calculated for each dwelling. Existing Octavia tenants transferring to existing properties owned by Octavia at 30 November are charged rents based on the previous Target Rent system.
Rents on New Lettings :Where properties are let on Assured tenancies except for those identified as Affordable Rent — see section C to people who are not existing Octavia tenants, the starting rent for their new home will be the Target Rent for their property see Appendix 1 , except if this is higher than the Government Rent Cap for the property see Appendix 1 , in which case the Government Rent Cap will be charged.
All of the elements of the formula are published by the Office of National Statistics, with the only variable element being the open market value of the property in existing use as at January The Target Rent is calculated using a formula based on the value of the property in , average local earnings and national average rents and adjusted for the number of bedrooms.
Where tenants request a transfer or it is for housing management reasons, a new rent will be charged at the Target Rent for the property see Appendix 1 which will not be higher than the relevant Government Rent Cap for the property or the rent assessed by the local authority Rent Officer service. Rents on Transfers :Existing Octavia general needs assured tenants requesting a transfer except those identified as Affordable Rent — see Section C will enter into a new Assured Tenancy for their new home with a starting rent of the Target Rent for their new property see Appendix 1 ,except if this is higher than either a the Government Rent Cap for the property see Appendix 1 ,when the Cap will apply, or b the Affordable Rent see section C , when the Affordable Rent will apply.
Sample 1. Sample 2. Target Rent shall have the meaning given such term in the Rent Addendum. Target Rent means target rents for Social Rented Housing or its equivalent as determined through the national rent regime and published from time to time by the Regulator or such other body as may replace the Regulator, having responsibility for setting target rents for social housing.
Examples of Target Rent in a sentence Under the current system a Target Rent is calculated for each dwelling. Target Rent means the target rent published by the Authority from time to time as being the maximum permitted rent for the Affordable Dwelling based upon the target rents charged by other housing associations.
Target Rent means rent within the Regulator 's national rent restructuring regime Tenure Neutral means that it will not be immediately obvious from the external appearance whether the tenure of the Residential Units is Affordable Housing or Market Housing.
Target Rent means the target rent published by the Authority from time to time as being the maximum permitted rent for the Affordable Dwelling based upon the target rents charged by other housing associations and Registered Social Landlords within the Peak District National Park. Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent which indebtedness is paid first to Landlord and less the Re-entry Costs which costs are paid second to Landlord.
Market Rent as used in this Lease, shall be derived from an analysis as such derivation and analysis are set forth in this Exhibit F of the "Net Equivalent Lease Rates," of the "Comparable Transactions".
The "Market Rent," as used in this Lease, shall be equal to the annual rent per rentable square foot as would be applicable on the commencement of the Option Term at which tenants, are, pursuant to transactions consummated within the twelve 12 month period immediately preceding the first day of the Option Term provided that timing adjustments shall be made to reflect any perceived changes which will occur in the Market Rent following the date of any particular Comparable Transaction up to the date of the commencement of the Option Term leasing non-sublease, non-encumbered, non-equity space comparable in location and quality to the Premises and consisting of one full floor or greater transactions, for a comparable term, in an arm's-length transaction, which comparable space is located in the "Comparable Buildings," as that term is defined in Section 4, below transactions satisfying the foregoing criteria shall be known as the "Comparable Transactions".
The Market Rent shall include adjustment of the stated size of the Premises, based upon the standards of measurement utilized in the Comparable Transactions. In no event shall Alterations or improvements constructed by Tenant at Tenant's cost be considered in determining the comparability of other space.
Basic Rent means Basic Rent as defined in Paragraph 6. Open Market Rent means subject to paragraph 4 below the clear yearly rack rent at which the Assumed Premises could reasonably be expected to be let as a whole on the open market at the Relevant Review Date by a willing landlord to a willing tenant with vacant possession and without any premium or any consideration other than rent for the grant thereof for a term of ten 10 years commencing on the Relevant Review Date and otherwise on the terms and conditions and subject to the covenants and provisions contained in this Lease other than the amount of the Rent payable hereunder and subject to the provisions for the review of the Rent contained in this Schedule and making the Assumptions but disregarding the Disregarded Matters.
Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease. Fair Market Rent for purposes of this ARTICLE 41 shall mean the rent base rent and additional rent adjusted, if necessary, to reflect the base years to be used for the applicable period per rentable square foot for similar office space in the Building and in comparable buildings as reasonably located in the City of Boston, i without taking into account actual improvements regardless of who paid for such improvements , or the cost of demolition of the space, and ii taking into account A the magnitude of any free rent or buildout allowance, B length of lease, C building amenities, D the location and floor levels of the premises, E services provided, F surrender rights, if any, G parking rights and obligations, H free rent, tenant allowances or other concessions and I all other relevant market factors and iii taking into account the brokerage commissions, if any, to be paid in connection with the renewal.
If within such thirty 30 day period the parties have not agreed on the Fair Market Rent rate in writing, then Landlord and Tenant shall, during the ensuing fifteen 15 days, attempt to agree on an arbitrator not affiliated with either party and if they are unable to do so, either party may request that the President of the American Arbitration Association in Boston choose an arbitrator, as promptly as possible, meeting the criteria set forth below; provided, however, the parties shall have the right during the ten 10 day period following the end of the fifteen 15 day period to submit the names of not more than two 2 potential arbitrators meeting the said criteria and if the parties or either of them makes such a submission, the choice of the President of the American Arbitration Association shall be made from the list of potential arbitrators so submitted.
Sample 1. Sample 2. Social Rented Housing means rented housing owned and managed by local authorities and Registered Providers to be provided in relation to the Existing Residents at a rent which reflects their current rental arrangements , and in relation to the New Residents at the Affordable Rent levels and such housing may include housing owned or managed by other persons and provided under equivalent rental arrangements to those specified above as agreed with the Council or with Homes England ;.
Examples of Social Rented Housing in a sentence Social Rented Housing - Rented housing owned and managed by local authorities and registered social landlords, for which guideline target rents are determined through the national rent regime. Social Rented Housing means housing owned by local authorities and Registered Providers for which guideline target rents are determined through the national rent regime and may also be owned by other persons and provided under equivalent rental arrangements to the above as agreed with the local authority or with the Homes and Communities Agency or any successor agency or body.
Social Rented Housing means rented housing owned and managed by local authorities and housing associations for which guideline target rents are determined through the national rent regime and includes rented housing owned or managed by other persons and provided under equivalent rental arrangements to the above unless otherwise agreed in writing by the Council.
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