Transcription of CHAPTER 6. LEASE REQUIREMENTS AND LEASING …
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CHAPTER 6. LEASE REQUIREMENTS AND LEASING …
HUD Occupancy Handbook 6-1 6/07 CHAPTER 6: LEASE REQUIREMENTS and LEASING activities REV-1 CHAPTER 6. LEASE REQUIREMENTS AND LEASING activities 6-1 Introduction A. The previous chapters provided guidance on determining eligibility, organizing and managing waiting lists, determining income, and calculating rents. At this point in the process, residents are ready to sign a LEASE . A LEASE is a contract between the owner and tenant that explains the terms for residing in the unit. A LEASE is a legally binding contract and is enforceable in a court of law. Owners and tenants alike should be familiar with the provisions of the LEASE (when relevant, the applicable HUD model LEASE ) so they can better understand their responsibilities under the LEASE .
Chapter 6: Lease Requirements and Leasing Activities 4350.3 REV-1 6-2 Key Terms A. There are a number of technical terms used in this chapter that have very specific definitions established by federal statute or regulations or by HUD. These terms are listed in Figure 6-1, and their definitions can be found in the Glossary to this handbook.
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