Contract Rent [HUD] Law and Legal Definition
Pursuant to 24 CFR 81.2 [Title 24 Housing and Urban Development; Subtitle A Office of the Secretary, Department of Housing and Urban Development; Part 81 Regulations Implementing the Authority of the Secretary of the Department of Housing and Urban Development over the Conduct of the Secondary Market Operations of the Federal National Mortgage Association (FNMA); Subpart A General], the term Contract Rent means “the total rent that is, or is anticipated to be, specified in the rental contract as payable by the tenant to the owner for rental of a dwelling unit, including fees or charges for management and maintenance services and those utility charges that are included in the rental contract. In determining contract rent, rent concessions shall not be considered, i.e., contract rent is not decreased by any rent concessions. Contract rent is rent net of rental subsidies.”
