What Does Income Based Rent Mean

Usually, rent in public housing is a percentage of your anticipated yearly income. This is called income-based rent because it is based on your income. … The housing authority then determines your rent based on a percentage of your net or adjusted income.

What is it called when your rent is based on income?

For income-restricted housing, the apartment home’s monthly rent is based on a percentage of the area’s income, taking into account the going rental market rates as well as the size of the apartment itself.

What does based rent mean?

Base rent usually refers to the stated monthly rental rate in a commercial lease. Base rent also sometimes is called net rent or minimum rent. Base rent may be the same throughout the lease term, or the lease may provide for annual increases in base rent.