55+ communities must be registered with the State of Florida and must renew their status every two years. They must maintain at minimum 80% of their units OCCUPIED by at least one person who is 55 years old.
I have a Community Association Manager license as well.
Prudential Florida Realty
There are some wonderful opportunities in age restricted communities as prices in many are lagging behind the overall market which is very strong in many market segments. You certainly can purchase and rent the unit to someone who meets the requirement soy that community and its bylaws. As pointed our below make sure of any rental restrictions in the communities you are contemplating. Also pay very close attention to the association fees as in many of these communities they can be high due to the many services and amenities available to residents.
Not sure the numbers work out in most places as rents, like prices, in these communities tend to be lower. If you are looking for solid cash on cash returns and looking for opportunities in the best areas where potential appreciation is the highest please feel free to contact me and I would be happy to send you some examples of deals that work.
I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
being under 55 and having the intention to rent the unit out. But there are many
that have " restrictions " on ownership,renting , or both!! Only a thorough review of
Community " Docs " will provide the assurance you need!
An agent familiar with a prospective community and the management can give
some guidance- but you need to review the "Doc"s on the requirements.
You may want to looki into " traditionally over 55 " communities that have recently
"de-controlled " .as well. Best of luck! Contact me directly -Glad to help!
BOB BRUBAKER HIGHLIGHT REALTY PALM BEACH COUNTY FL. 561-876-6649
As you can see there are a large number of variables and the best thing to do is to contact me and I can do some research based on some specific requirements of yours.
Keyes Real Estate, Mortgage and Title Services
Delray Beach, FL.