7.7.12.6 Corporate Leases

A. Corporations and businesses are eligible residential residents in insured projects so long as the lease term equals or exceeds 30 days, although compliance with the policy on Short-Term Lease Premiums above is required and the number of units subject to the leases cannot exceed 10% of the units. For underwriting and valuation purposes, the percentage of total gross income obtained from corporate leases shall not exceed 10%. Requests to waive this guidance will rarely, if ever, be approved.