South Portland, ME Code of Ordinances ch. 12 (Housing)

Citation
South Portland, ME Code of Ordinances ch. 12 (Housing)
Source
Official source
Original Source
https://southportland.gov/DocumentCenter/View/1428/CH-12-Housing ↗

Related Parts of This Source

Full Text

1,195 chars 
Base Rent means the reference point from which the Annual Rent Adjustment
shall be determined. For tenancies commencing on or before January 1, 2023 that
remain in effect as of the Applicability Date, the initial Base Rent is the monthly
rent in effect on January 1, 2023. For tenancies commencing after January 1, 2023
that are in effect as of or after the Applicability Date, the initial Base Rent is
the monthly rent set forth in the Lease or Rental Agreement, or if there is no Lease
or Rental Agreement, the amount charged by the Landlord upon the commencement of the
first residential tenancy in the Housing Unit after January 1, 2023.

Control by an Owner means the direct or indirect ownership, control, or
holding with power to vote, by that Owner of 20% or more of the outstanding voting
securities issued by, or other ownership interests in, a Person, other than an Owner
who holds such securities or ownership interests as a fiduciary or agent without
sole discretionary power to vote the securities or ownership interests, or solely to
secure a debt, if the Owner has not, solely or with others, exercised the power to
vote or otherwise exercise management control over that Person.