Hi All,
Was wondering what restrictions apply to 55+ communities. Can we buy ourselves if we aren’t 55 and sell or rent out the unit? It’s a huge market here.
Thanks.
It’s becoming a huge market everywhere. In my town a very nice condo complex just was built (prices from the high $200’s on up) and a very nice apt building (probably 50 units or more). I’m interested to hear the answer as well.
I don’t see why you can’t buy and rent out. The restrictions are on who can live in the property, and it was designed to somewhat bypass the fair housing act since you cannot discriminate based on age. Old people vote in numbers and I guess gov gave in 
I once had a 55 plus property and managed it, I was 32 then. I even lived there with my wife and 2 children in the managers unit. At first a few residents had a fit about the kids but soon got over it. I simply told them that if they wanted to purchase the community we would move out.
Richard Stephens