WinB (Florida)
Posts: 4
Posts: 4
Posted:
Does any one know what the laws are for renting in an over 55 gated community?
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over 55 renting criteria
Started by WinB • 14 replies • 1379 views
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WinB (Florida)
Posts: 4
Posts: 4
Posted:
The state is FLORIDA.
DonnaS (Tennessee)
Posts: 5,671
Posts: 5,671
Posted:
Win,
There are no laws or restrictions for renting units in Florida. Only your individual documents can or might have any restrictions written. Scour thru your docs to see if you have any in there. The Federal Government only restricts the maximum amount of people living in a 55+ community to 20% maximum, otherwise, you cannot be classified as "Housing For Older Americans"
The only thing that you will find in the Florida Statutes is under Tenants Rights, which protects the rights of renters.
Are you considering a rental ban? There are several threads in our Archives on this site, relating to this subject.
DonnaS (Tennessee)
Posts: 5,671
Posts: 5,671
Posted:
How about if I rewrite that to "Fed restricts people under age 55 to no more than 20% of the total residents" Sounds better now.
RobertR1 (South Carolina)
Posts: 5,164
Posts: 5,164
Posted:
Check this site out for info.
http://www.senioroutlook.com/search.asp
http://www.senioroutlook.com/search.asp
WinB (Florida)
Posts: 4
Posts: 4
Posted:
what if the community is totally restricted to over 55, what is the down side of that?
BrianB (California)
Posts: 2,820
Posts: 2,820
Posted:
downsides:
1) potential market downside among buyers (granted, younger buyers, but still...)
2) problems with terminology: Owners 55+, folks who live there 55+, one or both people 55+, no one under 55 allowed?
3) hard to fit that many LTD's and Chryslers into parking spaces
4) smaller pool/population for rentals
5) depends
6) makes the property ineligible to be passed along in wills to children, etc.
1) potential market downside among buyers (granted, younger buyers, but still...)
2) problems with terminology: Owners 55+, folks who live there 55+, one or both people 55+, no one under 55 allowed?
3) hard to fit that many LTD's and Chryslers into parking spaces
4) smaller pool/population for rentals
5) depends
6) makes the property ineligible to be passed along in wills to children, etc.
BrianB (California)
Posts: 2,820
Posts: 2,820
Posted:
oh come on, an over 55 thread and a depends joke, and not a single comment?
hello, is this thing on? Is anyone out there?
hello, is this thing on? Is anyone out there?
WinB (Florida)
Posts: 4
Posts: 4
Posted:
This is serious stuff. Don't need jokes.
RobertR1 (South Carolina)
Posts: 5,164
Posts: 5,164
Posted:
Brian,
I can't hear you, you will have to speak up.
I know one thing, I am going to go there if when you get there you can be 55, I'm 77.
Associations that require specific restrictions for membership will always have more restrictions on a day to day level. They will have the same restrictions that are required in an open membership plus the restrictions to maintain the age requirement.
As far as upside and downside, that will be relevant to the individual. Who knows what lights some one else's fire. If you have any doubt, don't do it.
If your interest is strictly renting, probably this is not the place to look for that kind of advice.
I can't hear you, you will have to speak up.
I know one thing, I am going to go there if when you get there you can be 55, I'm 77.
Associations that require specific restrictions for membership will always have more restrictions on a day to day level. They will have the same restrictions that are required in an open membership plus the restrictions to maintain the age requirement.
As far as upside and downside, that will be relevant to the individual. Who knows what lights some one else's fire. If you have any doubt, don't do it.
If your interest is strictly renting, probably this is not the place to look for that kind of advice.
PaulM (Pennsylvania)
Posts: 1,347
Posts: 1,347
Posted:
WinB: My experience has been with an over 55 community not restricted to ALL units selling (renting) to those 55 and over; only a portion. And, also, only
one person on the deed needs to be 55 and over. But, check with your local and state laws. The downside of preventing ALL age brackets to rent certainly limits the ability to rent at all.
In this time of slow economy and it hitting the RE market hard, I don't know if it would be an asset or deterrant to limit to 55 and over. Many older folks are having to sell their larger homes (if they can!) and move to smaller quarters, and renting may be a viable option for them. Being on a fixed income is not fun in this day and age and you are seeing more and more older folks working at McDonald's and Starbucks because of meager finances. So, to rent might be an answer for some who cannot afford all that comes with owning a home: taxes, maintenance.
Perhaps you could network with local realtors in your area to learn of the trends they are experiencing.
one person on the deed needs to be 55 and over. But, check with your local and state laws. The downside of preventing ALL age brackets to rent certainly limits the ability to rent at all.
In this time of slow economy and it hitting the RE market hard, I don't know if it would be an asset or deterrant to limit to 55 and over. Many older folks are having to sell their larger homes (if they can!) and move to smaller quarters, and renting may be a viable option for them. Being on a fixed income is not fun in this day and age and you are seeing more and more older folks working at McDonald's and Starbucks because of meager finances. So, to rent might be an answer for some who cannot afford all that comes with owning a home: taxes, maintenance.
Perhaps you could network with local realtors in your area to learn of the trends they are experiencing.
BrianB (California)
Posts: 2,820
Posts: 2,820
Posted:
Quote:
Posted By WinB on 03/20/2008 4:07 AM
This is serious stuff. Don't need jokes.
This is serious stuff. Don't need jokes.
there is nothing in life so serious that a little humour can't make it worse.
DonnaS (Tennessee)
Posts: 5,671
Posts: 5,671
Posted:
Win,
Restricting that all residents be 55 or over is going to shoot you guys in the foot, in this very tight housing market. I am 64 so I am not defending the young rental age but with some very tight rental restrictions, any community can maintain the "older American housing concept". I do not condone rentals being so restricted that many of the units will become empty with a lack of having them rented. Do not let the "all renters are bad" mentality stop your Board from making the right decision and that is to NOT ban all renters unless they are 55. There are circumstances when you might need to rent out your unit to earn some money for an emergency that you are not prepaired for.
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Win,
I would say the same rules apply whether the home is occupied by the owner or a renter. The HUD rule does not apply to who "owns" the home but rather who "occupys" the home. Here's the rule (unless your gov. docs. are more restrictive):"An exempt property will not violate the Fair Housing Act if it includes families with children, but it does not have to do so. Of course, the property must meet the Act's requirements that at least 80 percent of its occupied units have at least one occupant who is 55 or older, and that it publish and follow policies and procedures that demonstrate an intent to be 55 and older housing."
I would suggest you abide by the HUD rules else you may stand to lose your 55+ status!
Mary
I would say the same rules apply whether the home is occupied by the owner or a renter. The HUD rule does not apply to who "owns" the home but rather who "occupys" the home. Here's the rule (unless your gov. docs. are more restrictive):"An exempt property will not violate the Fair Housing Act if it includes families with children, but it does not have to do so. Of course, the property must meet the Act's requirements that at least 80 percent of its occupied units have at least one occupant who is 55 or older, and that it publish and follow policies and procedures that demonstrate an intent to be 55 and older housing."
I would suggest you abide by the HUD rules else you may stand to lose your 55+ status!
Mary
JanM (Texas)
Posts: 142
Posts: 142
Posted:
We have an area that we call the "camper" section where ppl reside in 5th wheels and RVs amoung a few mobiles. We had a very heated meeting with the majority of these residents who are over 55 last night about a 19 yr old who lives amoung them. I have suggested to the board to change the restrictions to make it a 55 and older area for any NEW residents. The 19 yr old has paid all dues on time and is basically just rude and obnoxious. He does occasionally speed down the road, spin gravel and play loud music, but our safety dept has never witnessed it, so of course they call favoritism. I feel this is a generation gap problem and it has gotten ridiculous with the name-calling going back and forth. Changing the rules seems to be the only way to have this type of situation reoccur, but it doesn't solve the problem we have now.
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