Cepco Management



Make copies of this to use as a tool when meeting with applicants to determine what their rent may be.How to calculate a person’s gross weekly, monthly and annual incomeHourly Rate $_______ x Weekly Hours Worked _______ = $____________ Gross Weekly IncomeGross Weekly Income x 52 Weeks = ______________ Gross Annual IncomeGross Annual Income divided by 12 Months = ______________ Gross Monthly IncomeHow to Calculate Rent______________Total Gross Monthly Income (include all income from all household members) x .30 = ______________Gross Rent --______________ Subtract Utility Allowance for Unit Size from Gross Rent =______________ Net Tenant ContributionHow to determine what the rent amount isBasic Rent for unit size = $________ Market Rent for unit size = $________Is there rental assistance available? _______. If yes and the Net Tenant Contribution is less than the Basic Rent amount for the unit size, then the Net Tenant Contribution is the rent amountIf No and the Net Tenant Contribution is less than the Basic Rent amount for the unit then Basic Rent is the rent amount. If the Net Tenant Contribution is more than the Basic Rent amount for the unit, their rent will be the Net Tenant contribution amount up to the Market Rent amount for the unit size.Example: The Basic Rent is $420 and the Market Rent is $600The Net Tenant Contribution calculates to $320 and there is rental assistance available, so the rent amount is $320. The Net Tenant Contribution calculates to $320 but there is no rental assistance available, so the rent amount is $420 (Basic Rent)The Net Tenant Contribution calculates to $485. $485 is what the rent amount will be. ................
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