Dictionary of Real Estate Terms: basic rent
basic rent
the minimum rent a tenant must pay under a HUD-subsidized housing program such as Section 236.
Example: Depending on the income level and number of dependents, an elderly person with a low-to-moderate income level living in a HUD 236 subsidized-rent apartment may be required to pay rent equal to at least 30% of income, with the remainder paid by the federal government. If the person's income increases, rent can still not beraised above fair market rent.
