RENT

HOW RENT IS DETERMINED

Monthly rent is determined by income.  Every form of income must be  reported, as well as assets.  Deductions for out-of-pocket medical premiums and expenses are also taken into account.

The rent a family will pay is the highest of the following amounts:

* 30% of the family's monthly adjusted income

* 10% of the family's monthly income

                       OR

* $25.00 Minimum Rent

INCOME DETERMINATIONS

 

 

The anticiapted income, subject to exclusions and deductions the family will recieve duing the next twelve (12) months,

is used to determine the family's monthly rent.

Applicants will be required to provide accurate family composition information, report all income and assets* and sign consent forms for income verification. 

 

*Assets include: Checking and savings accounts, retirement and pension funds, stocks, bonds, money market accounts, certificates of deposit, individual retirement and Keogh accounts, cash held in safe deposit boxes or at home, cash value of whole life insurance policies available to the individual before death, equity in rental property and other capital investments, personal property held as an investmnet, lump sum receipts of one-time receipts, mortgage or deed of trust held by an applicant, assets disposed of for less than fair market value.

Farrow Place does not discriminate on the basis of handicapped status in the admission or access to or treatment or employment in, its Federally assisted programs and activities.

1098 Ebinport Rd., Rock Hill, SC 29732      803-328-8955     TD 800-735-2905
See other properties at:  www.mansermar.com