Fair Rental Values
Fair rental values is a type of home insurance benefit provided by Coverage D of homeowners insurance. Fair rental value is payable when a loss covered by a home insurance policy prevents the residence from being used.
The PHA determines a payment standard that is between 90 percent and 110 percent of the Fair Market Rents (FMRs). FMRs regularly published by HUD, represent the cost to rent a moderately-priced dwelling unit in the local housing market. The housing voucher tenant must pay 30 percent of its monthly adjusted gross income for rent and utilities, and if the unit rent is greater than the payment standard, the tenant is required to pay the additional amount.
Find your FMR here: https://www.huduser.gov/portal/datasets/fmr.html
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