if i buy a property here i will be allow to rent it out?

Asked by mar_cela74, Sunrise, FL Thu Apr 11, 2013

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This question was asked from this property: http://www.trulia.com/property/37243465-538-Woodgate-Cir-Sun…

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3
Gino Flores, , Miami, FL
Tue Jun 11, 2013
Requirements
Federal Register 24 CFR Part 100; section 760.24-760.37 (4a), Florida Statutes

For a community to be considered "housing for older persons" as a 55+ community, the housing must be intended and operated for occupancy by persons 55 years of age or older and meet the following requirements:

1.At least 80% of the occupied units are occupied by at least one person 55 years of age or older.
2.The facility or community publishes and adheres to policies and procedures that demonstrate its intent to in fact be a provider of housing for older persons.
3.The facility or community complies with rules established by the U.S. Department of Housing and Urban Development (HUD) for verification of occupancy.

This should allow for 20% of the community to not have to necessarily be 55 + to qualify to live in there but the HOA board can block that by coming up with an excuse to not let you buy into the community unless they know you or are influence by other means.
0 votes
would like to buy a property condo and be allow to rent it out !


were can i find those property wich area ?

thank you for your ansers

Lucie from Montréal powerpack@videotron.ca
Flag Mon Feb 24, 2014
Stefanie Coh…, Agent, Weston, FL
Thu Apr 11, 2013
Yes, rentals are allowed in this community.

Stefanie Cohen, PA, ABR, SFR
Prudential Florida Realty
Scohen77@aol.com
0 votes
Hello
in wich community ? can we by a condo and rent it to others

Regards
Lucy from Montréal
Flag Thu Feb 20, 2014
Angela Schra…, Agent, Pembroke Pines, FL
Thu Apr 11, 2013
Hi Marcela!

This particular property is under contract and no longer available. It is also an unapproved short sale so, depending on the situation, the price could change and/or it may not be approved by the lender or it could take months and months to get an answer from the bank. However, this doesn't mean that all short sales (or even this one) fall into this situation, it's just something to be very aware of when looking at short sales.

To answer your question, there are no rental restrictions in Woodgate and, in fact, there is a very nice 3/2 waterfront unit with new kitchen, floors, etc. currently available for rent in there listed at $1,750. This will give you an idea of the rent you can anticipate.

Many condo/townhouse communities in the area do have rental restrictions, so it is important to avoid these.

I strongly recommend that you work with an experienced local Realtor who knows the market well. I'd be happy to help you and we'd also be able to help you secure a good tenant once you have your property. Let me know if I can help.

Best of luck and best regards,

Angela
Villa G Realty, Inc.
Tel: 954-816-7996
Web Reference:  http://www.villagrealty.com
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