7.3 HRSR 01-04-2016 - Laserfiche WebLink

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APPENDIX -DEFINITIONS two meals per day and weekly housekeeping in the monthly fee, wi meal and personal care (either included in the monthly fee or for an additional cost). Assi living properties also have either staff on duty 24 hours per da-hour emergency response. Building Permit Building permits track housing starts and the number of housing units authorized to be built by the local governing authority. Most j permits for new construction, major renovations, as well as othe Building permits ensure that all the work meets applicable building and safety rules and is typically required to be completed by a licensed professional. and meets the inspectors satisfaction, the jurisdiction will is Occupancy. Building permits are a key barometer for the health of the housing market and are often a leading indicator in the rest of the economy as it has a spending. Capture Rate The percentage of age, size, and income-qualified renter households in a given area or Market Area that the property must capture to fill the unit calculated by dividing the total number of units at the property and income-qualified renter households in the designated area. Comparable PropertyA property that is representative of the rental housing choices designated area or Market Area that is similar in construction age. Concession Discount or incentives given to a prospective tenant to induce signature of a lease. Concessions typically are in the form of reduced rent or term, or free amenities, which are normally charged separately, Congregate (or independent living with services available) Congregate properties offer support services such as meals and/or housekeeping, either on an amount included in the rents. These properties typically dedica building area to common areas, in part, because the units are smaller than in adult in part to encourage socialization among residents. Congregate older target market than adult housing, typically seniors age 75also above those of the active adult buildings, even excluding the services Contract Rent The actual monthly rent payable by the tenant, including any ren on behalf of the tenant, to the owner, inclusive of all terms of Demand The total number of households that would potentially move into renovated housing project. These households must be of appropri size for a specific proposed development. Components vary and ce, but are not limited to: turnover, people living in substandard conditions, r-burdened households, income-qualified households and age of householder. Demand is project 116 MAXFIELD RESEARCH & CONSULTING, LLC