Approved housing assistance programs—market rent
22 Approved housing assistance programs—market rent
If housing is being rented to an entity under an approved housing assistance program, the entity must be charged market rent for the housing.
However, an approved housing assistance program may provide for a rebate of rent in accordance with the program.
Subsection (4) applies if—
an entity is currently being charged less than the market rent for the housing (disregarding any rent rebate); and
if the housing commissioner were to increase the rent to market rent—the increase would be more than the amount prescribed by regulation for the Residential Tenancies Act 1997, section 64B (Limitation on rent increases—amount).
Despite subsection (1), the housing commissioner may decide to only increase the rent by an amount up to the prescribed amount.
In this section:
market rent, for housing, means the rent that would be charged by the lessor for the housing if the housing were rented by a willing lessor to a willing tenant—
dealing with each other at arm’s length; and
each of whom had acted knowledgeably, sensibly and without compulsion.
This Act’s bill:Explanatory statementSecond reading speech
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