Definitions for condominium lease rent rules

For the purposes of this chapter, the following definitions apply unless the context clearly indicates or requires a different meaning. Apartment, Association of Apartment Owners, Condominium, Declaration of Horizontal Property Regime, and Declaration of Condominium Property Regime. Have the same meaning as defined in HRS Chapter 514B. Apartment Lease. An apartment owner-occupant’s lease for the owner-occupant’s apartment and includes any lease to an apartment owner-occupant for the land upon which the owner-occupant’s apartment is situated, including but not limited to a ground lease or a condominium conveyance document, or both. Apartment Owner. A person holding, or the persons jointly or in common holding, a leasehold interest in a residential apartment. Apartment Owner-Occupant. Has the same meaning as defined in § 39-1.2 . Condominium Project. A building containing at least one residential apartment. Consumer Price Index. The Consumer Price Index For All Urban Consumers (CPI-U) for Honolulu published by the Bureau of Labor Statistics of the United States Department of Labor. Declaration. A declaration of horizontal property regime or declaration of condominium property regime. Department. The department of community services. Fixed Rent Period. The period of a lease during which the lease rent for a residential apartment is stated in the lease, even if the rent is not held constant for the entire period. Initial Lease Rent. The beginning lease rent specified in an apartment lease or the reasonable market value rent prevailing at the effective date of the apartment lease determined as specified in § 39-1.4 , whichever is greater. This term specifically excludes any lease rents that reflect reduced rent at the beginning of the lease due to construction of the project or due to special negotiations between the developer and the land owner. Land Owner. The person holding the leased fee interest in the land on which a condominium project is situated. Lease. A lease or master lease, including any sandwich interest, affecting a residential apartment. A sandwich interest means any lease or sublease in the chain of title between the land owner’s interest in the land and the apartment lease. Lease Rent. The rent payable by a lessee to a lessor for the leasehold interest for a residential apartment under an apartment lease. Lessee. Any person to whom land on which a condominium project is situated is leased or subleased. Lessor. Any person who leases or subleases land on which a condominium project is situated. Maximum Annual Renegotiated Lease Rent, Maximum Lease Rent, or Maximum. The maximum annual renegotiated lease rent applicable to an apartment owner-occupant, as determined under § 39-1.5 or biennially adjusted under § 39-1.6 . Renegotiated Lease Rent. The lease rent determined in accordance with this chapter on the renegotiation dates specified in the lease. Renegotiated Rent Period. Any period of a lease following the expiration of the fixed rent period. Renegotiation Date. The date on which a renegotiated lease rent is to take effect. Residential Apartment. A condominium apartment that is used for residential purposes. The term does not include the following: (1) An apartment used for commercial purposes; (2) An apartment used as a timeshare unit or transient vacation unit, as defined under Chapter 21, Article 10 ; or (3) Any parking, recreational, or other nonresidential condominium apartment.